Need Tax Info?

It’s that time again – I am getting a lot of private e-mails with questions about how to handle gambling income on tax returns , particularly from recreational gamblers who are getting W-2Gs for the first time. Continue reading

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TV Appearance Tonight

In Vegas? Tune into Channel 3 tonight at 6 p.m. and there will be an appearance by the Frugal Gambler, talking about coupons and saving money!

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Calendar Time

Do you have your February gambling calendar made out? You do – especially if you visit a casino quite frequently and want to be a wise gambler and make your gambling bankroll go further. Continue reading

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Comment Feature Working Again

Some of you have reported that you could not leave comments recently. However, I think I have fixed it – so comment away!

And I think Subscribe feature is also working, albeit on a very messy page which I don’t know how to fix!

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Looking For TV Mistakes

One of my favorite TV series is back on HBO – Big Love. This is the 4th season – and there are some changes that disappoint me. I really hate the new introduction. I had loved the ice skating title sequences – and every time I heard “God Only Knows,” I felt so peaceful inside.

But we still have sinister characters. Even though the creepy Roman is dead, his body doesn’t seem destined to stay buried – and his evil apparition still lives in tortured minds. Plus son Alby is a worthy villain to take his place.

But Brad’s and my favorite pastime during the show is to see how many mistakes we can find in the casino scenes. Yes, our favorite polygamist family is running an Indian casino in Arizona, just across the border from Utah.

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Good Promotion Advice

Always double-check casino promotion details. I try to pick up the printed rules at the slot club desk BEFORE I start playing for any promotion. This usually is a full page (occasionally even multi-pages) full of fine-print exclusions, warnings, instructions, and lawyer-talk. I don’t know how many times I would have been “fooled” if I hadn’t read the rules.

If you don’t see the details posted or printed out at the slot club desk, then ask. Once in awhile they have only one master copy at the booth – and I have been known to “insist” – politely, of course – that I read it. Sometimes you might not know just what questions to ask, and slot club employees don’t always know the rules themselves!

This same admonition holds true for promotions you get in the mail – always read the fine print. The devil is truly in the details!

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Brad’s Birthday Day

Brad is celebrating his 78th birthday today with one of his favorite “celebrations” – playing VP on a bonus-point day. This isn’t always possible, but since today is a holiday, that makes it an easy-to-do activity.

Perhaps we will see you at South Point?

Posted in Brad Stories, Casino Promotions | 3 Comments

Gamblers and Charity

Here was one of the comments on my Jan. 3 blog entry about our New Orleans holiday visit at Harrah’s: “… it seemed that perhaps you could have shared some of your good fortune with those less fortunate. It would have been nice to read this, considering the city you were in.”

I think about the general subject of charity a lot – and down through the years I have shared some of my ideas about this on Internet forums and in other public writings. I have spoken about our long-time work with the Salvation Army and Visiting Nurse Service when we were living in Indianapolis. And here in Las Vegas I have organized some projects where my gambling friends could make donations for the needy. And I have mentioned several times how much I love my current volunteer project, working with kindergarteners in a school that serves many low-income families.

However, Brad and I prefer to do most of our charitable giving privately. Actually both years we have been in New Orleans we have contributed money and shared comps with a needy family in the city, but it feels like “bragging” if I write about those specifics.

I do plan to continue writing about this subject in general terms, and I continue to encourage gamblers to have a “balanced life.” The casino environment is very artificial and can tempt a person to be narrow-minded and self-centered. We have always fought that trend. And when we have good luck in a casino, we immediately look for ways to share our good fortune. (And the amazing thing about this is that the more we give away, the more that comes back to us! I don’t worship karma, but I surely can’t deny its existence!)

Right now the disaster in Haiti is forefront in our minds. You can find many Internet sites that will give you quick ways to find reliable charities that are helping. One of the easiest ways to contribute, especially for people who feel they can give only a small amount, is by texting a message, Haiti, to 90999 on your cell phone. $10 will be added to your phone bill and given directly to the Red Cross. For details on this and other ways to contribute, click here.

I encourage you to open your heart – and give as much as you feel you can afford – at least as much as you would spend on a few hands of the slot or VP machine you usually play! I bet it willl make you feel good!

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New Tax Memo

A new IRS tax memo just came out, once again affirming the validity of using the “session method” for keeping records and reporting gambling win/loss figures. In this case the IRS
conceded that $1100 (the net win of the day) was the “gambling win,” as opposed to the $2000 reported on the W-2G that was hit that day.

You have to always remember, however, that memos only refer to the case under question and have no legal basis for future cases. But they do show that the IRS is, albeit slowly, moving away from the absolute W-2Gs-are-your-wins position.

I may have more on this subject in a few months since the IRS is questioning our 2007 gambling figures. We’ll see if they accept our “session” method after I explain things to them!!!

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Lucky Mistakes

Reading about a mistake made by a convenience store clerk that netted one man $128.6 million made me start thinking about mistakes that I have made in my almost 26 years of gambling in casinos. And, yes, no matter how careful I try to be, I do still make mistakes – although I probably make fewer now than when I first started. Or, maybe not – “senior moments” seem to be increasing!

Usually gambling mistakes cause me to lose money, although I try to “learn a lesson” from each one so it won’t be a total loss. I’ve turned away from my machine to have a deep discussion with a friend and not noticed that someone came along and pushed the cashout button – that was about a $600 loss. I’ve hit a last-minute W-2G jackpot that delayed me from meeting friends for dinner, so when I got paid, I was in a hurry and forgot to cash out the balance left on my machine – about $200 gone when I remember to go back about 10 minutes later. Smaller losses have occured when I’ve misread coupons or not checked the details of a promotion I did and found out too late that I wasn’t going to get the bonus I expected.

I also have started playing a machine and not checked the paytable. Occasionally the casino had changed the schedule since I had last played there, but more frequently, the machine was on the default schedule (often the popular but lower-EV Double Double Bonus). I either neglected to choose the right game when I started to play or didn’t notice the machine had returned to the default game when I had run out of credits and had to insert more bills. I usually noticed and corrected my mistake within a few minutes and the loss was minimal even though I was often using the wrong strategy. However, my two biggest “lucky mistakes” came in this circumstance and made me big bucks. Both times I hit quads, one with a kicker, which paid thousands instead of hundreds! Hopefully that has covered a lot of my losing mistakes.

Posted in Casino Promotions, Video Poker | 6 Comments