If you gamble, you may not feel like as much of a winner come tax season next year. Changes in the State of Oklahoma tax law a limiting how much you can write off as a 'loss.'

I only went to Winstar to see and make a TR. It’s not worth going to any of these OK casinos. Alcohol is NOT comped and overpriced. When I was there, a can of Coors light was $4.50, but it was happy hour, so $4.00. The tables are packed. People just don’t care about the ante. I think they see it as the cost of entertainment. The win/loss statement can be useful when reporting additional income or claiming losses. You are able to claim losses up to the amount of your winnings on Schedule A, Itemized Deductions under “Other Miscellaneous Deductions.” Your wins and losses will be reported separately. Please remember that your win/loss statement is only a reference tool.

'I see this for Oklahoman's as like the gambling penalty,' said Eileen Robinson, the head accountant at Gardner's Tax Services Inc.

In previous years, you could write off your total gambling losses in your adjusted income which is what you can still do for federal taxes, but for Oklahoma state taxes, you can't do that anymore.

'For federal you have to show in the income on the 1040, your schedule 'A' is where you take your itemized deductions and that's where you right off your gambling losses,' Robinson said. 'In Oklahoma, they limited the amount of itemized deductions you can take, you can take all of your donations but it limits the rest of it to that 17,000.'

This means you'll have to pay income tax for the total amount of big jackpots.

In the past, if you lost money while gambling, then won, you could deduct those losses from your winnings then only pay the tax on the difference.

'Now when you win that money you're going to have to pay the taxes whether you out that money back into the machine or not,' Robinson said.

Something that Robinson says has been an unpleasant surprise for her clients this year.

'They're in shock, most of them didn't know and of course not until we got ready to do their taxes,' Robinson explains.

It may be too late to make the adjustment this year, but there are ways to prepare for the tax change next season.

'I'd say 5% of all their winnings needs to be set aside to send in' Robinson said. 'So lets say if you won something you need to make sure you set back enough to be able to pay the taxes for the state and try not to plug that into the machine.'

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Thanks; Assuming RNG is random numerical generator, how would the consumer/gambler know whether it is programmed with a bias.

no way to know for sure
i say
i thinks also the programmers do not even know, by the method used, how much of a bias their rng they use actually has
they feel it is good enough
they should just use 2 sets of 6 cards like in CA
simple and easy and fair
my opinion

My 20 minute observation noted 'no' hardways 4's, 6's, 8's or 10's.

well the chance the next roll is not a hardway = 32/36
so for 20 rolls without a hardway = abouts 1 in 11
30 rolls = abouts 1 in 35
what do you think the chances are in 20 minutes to see no hardays are?
maybe 1 in 1 million?
so the rng could be rigged?
they could program the software
to produce a roll that would cause the most losses per roll
but i think most would stop playing after losing everything every time they play

Winstar Gambling Losses 2019

if you owned the casino, say
how would you have this done, cant use real dice
to make it fair?
it matters
Sally

what do you think the chances are in 20 minutes to see no hardays are?
maybe 1 in 1 million?
so the rng could be rigged?
Sally

That means you'd have to roll 120 times in 20 minutes, or one roll every 10 seconds. Assuming 2 rolls a minute, odds of no hardways are about 1%

why don't they use one of the electronic craps games available in the market? There's at least 3 different ones.

True craps is probably not approved by the state. The cards are a 'work around' to allow the game. I really don't know this for sure though.

Winstar Gambling Losses Income