Won/Loss Statement

The lighter side... playing for entertainment, less concerned about "the math."
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Jstark
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Re: Won/Loss Statement

Post by Jstark »

olds442jetaway wrote:
Sat Feb 22, 2020 8:21 am
So if that is the case, if you put in a hundred, play one hand for 5 bucks, lose that hand and cash out, will they say the coin in was only 5 bucks? But if you play all day say 3,000 hands at 5 bucks a hand with the same hundred and cash out nothing, your coin in would be 15,000 bucks? But your win loss would be negative 100 bucks. I guess what I’m trying to say is simply putting a ticket in a machine and taking it out without playing it at all is simply not counted?
Coin in/out is the amount played through the machine. Not how much actual cash was inserted into it. When someone says "I ran $50,000 coin in", that means they played that much. If it was a single line, $1 machine with a $5 max bet, then they played 1000 hands, no matter how much they won or lost.

olds442jetaway
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Post by olds442jetaway »

I think u meant 10,000 hands but at any rate I get it. Thats how I always count my coin in, but I wasn’t sure if the casino considered other factors.

Jstark
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Post by Jstark »

Apparently my simple math sucks today! :lol: :lol:

FAA
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Post by FAA »

I vary my bet so much that I am reliant on coin in figure. I just guesstimate hands from there.

tech58
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Post by tech58 »

olds442jetaway wrote:
Sat Feb 22, 2020 4:40 pm
Forgot to add... my mentor who served during WW2, was National Champion with the colt 1911 45 ACP. at that time. He was my mentor in the 1970’s and we remained friends and neighbors until he passed at age 101. Now if only I could translate those skills to video poker and shoot a few holes in the casino’s profits!!!
Previous post mentioned a 10-ring single hole, this one mentions a pistol (usually off-hand).
I am not a paper puncher, but that sounds like world class territory. ;) :up:

tech58
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Post by tech58 »

Jstark wrote:
Sat Feb 22, 2020 5:07 pm
olds442jetaway wrote:
Sat Feb 22, 2020 8:21 am
So if that is the case, if you put in a hundred, play one hand for 5 bucks, lose that hand and cash out, will they say the coin in was only 5 bucks? But if you play all day say 3,000 hands at 5 bucks a hand with the same hundred and cash out nothing, your coin in would be 15,000 bucks? But your win loss would be negative 100 bucks. I guess what I’m trying to say is simply putting a ticket in a machine and taking it out without playing it at all is simply not counted?
Coin in/out is the amount played through the machine. Not how much actual cash was inserted into it. When someone says "I ran $50,000 coin in", that means they played that much. If it was a single line, $1 machine with a $5 max bet, then they played 1000 hands, no matter how much they won or lost.
JS it appears to me that the term "coin-in" can be used in two completely different ways.
Commonly used exactly as you point out, but for the purpose of "Win/Loss" it could be viewed as something else.
Take the simplest possible case as an example: A world renowned VP wizard reviews his yearly log and it shows that he inserted one $100 dollar bill into a machine, played one hand with $5 at risk, and a high pair returned his investment. Whereupon he cashed out receiving the return of his $100 and promptly retired for the year.
At the end of the year what would his "Win/Loss" statement show?
It might show,as i was told is the case where i play, Coin-in = $100 and Coin-out = $100 yielding a net
win or loss = $0. This looks at the matter on a cash-in cash-out basis for a "session".
It also might show, Coin-in = $5 and Coin-out = $5 yielding the same net win or loss = $0. This looks at the matter on a hand-by-hand basis.
BTW it seems to me that casinos that use the hand-by-hand would include hand-pays in the Win/Loss.
Which is not the case at my regular casino. It was the case at Turtle Creek, my previous haunt.

Another BTW the smart player in my example did better than i did last year. :cry:

FloridaPhil
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Post by FloridaPhil »

With today's computer networks and tracking software, I believe casinos know far more about us than we may suspect. They know what games we play and for how long. They know how much we run through the machines. They know when we bet small and when we bet big. They know how accurate we play, how much we win and how much we lose. Wherever we use our player's card, they know what we do. If we have a tendency to go on tilt, they know that too.

They use this information to calculate comps and determine the offers we receive. They reward their best customers and penalize their worst. Their best customers are not necessarily the biggest and definitely not the most successful gamblers. This is one reason that slot players get better comps than video poker players. If you only play full pay games at near 100% accuracy, you may find your comps cut and/or your offers reduced. If you win big enough long enough, you could be asked to play somewhere else.

Jstark
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Post by Jstark »

I've never seen coin in figures on my win/loss statements in the past (I dont use players cards in my name anymore). Just dollar figures for wins or losses, with losses, if any, being in parentheses

tech58
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Post by tech58 »

Jstark wrote:
Tue Feb 25, 2020 1:13 pm
I've never seen coin in figures on my win/loss statements in the past (I dont use players cards in my name anymore). Just dollar figures for wins or losses, with losses, if any, being in parentheses
Looking at my statement as i type. Dollars in with a $X,XXX,XXX, and Dollars out with a
$X,XXX,XXX. No parentheses or netting of the two numbers. And as stated before hand-pays are NOT included in Dollars out. I have used coin instead of dollars in previous posts my apologies.
Just curious JS but if your account is not in your name, how can you use a Win/Loss statement for tax purposes?

tech58
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Post by tech58 »

JS?

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