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- If you win big while gambling in Las Vegas or Reno, you do not get to keep every penny of your winnings. Gambling winnings are taxable, and the Internal Revenue Service (IRS) wants its share of your casino loot. Before embarking on your Vegas trip seeking riches, make sure you understand the tax law.
- It is because you could win much larger sum while playing on the online slot machines if your paybacks are bigger.
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- On tables, a payout becomes taxable if it is $ or more AND more than to 1. This means you could win a to 1 payout on a game and not pay taxes if you only bet 1 dollar. You can win a to 1 payout with 10, bet and still be ok. On slots, you just have to win $ or less. $ or more.
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