Players dream of hitting a big jackpot when they play the slots. When that day comes for you, you'll have questions about the taxes you must pay on the winnings.
Hand Pay Jackpots
Money Bags has made me thousands of dollars from jackpots and non-jackpot big money winnings. Find the high roller lounges and you will find these slots for $1,$5, $10, $25, and $100 a spin and those rooms have multiple jackpots every time I am in there. Winstar INTRODUCTION. Winstar is a 5-reel 10-line slot machine game with a Space theme. Get a win for matching 3 or more symbols on a winline, with all wins paying adjacent. Each symbol is stacked on the reel giving the player more chances to win big! How To Play Progressive Jackpot Auto Play Payout Information and Game Rules RTP.
Experience the excitement of WinStar from home with the WinStar Online Gaming app! Play over 40 free eGames and eTables including Blackjack, Roulette, Video Poker and so much more. We give you 5,000 chips when you join, at least 500 more chips every day you play as well as bonus chips from the Fortune Wheel which you can spin every 4 hours! That’s before we’ve even got to the amazing. Winstar Slot Feature Whilst the prizes on offer could take you to the stars and back, you don’t need to be a high-roller to reach for the stars. With as little as 20 pence, players can get started playing Winstar slots online. And furthermore, you could win up to 500 times your original bet with the game’s progressive jackpot. Winstar Jackpot Winners The live casino games are all powered by Evolution Gaming, a software provider who has won numerous awards for Casino Supplier Winstar Jackpot Winners of the Year and Innovation in Casino Winstar Jackpot Winners Entertainment. With innovative games like Lightning Roulette, Infinite Blackjack, Speed Baccarat and more.
When you hit the winning combination of symbols for a large jackpot, your slot machine locks up. Depending on the machine, the lights on top of the machine may come on and start flashing, music may play or bells ring. A slot attendant arrives promptly to see what you have won.
On jackpots smaller than $5,000, an attendant verifies that you hit the jackpot and then assists you in claiming your money at the cashier's cage. In the case of a large or progressive jackpot, the casino may have technicians come and check the machine to certify that it was functioning properly when the jackpot hit. If you hit one of the wide-area progressive machines such as MegaBucks, the slot company that operates the game comes out and verifies that machine before giving you a check.
When you hit a jackpot, you have the option of taking your winnings in cash or check. Usually, large amounts are paid by check. In the case of the MegaBucks or similar multi-million dollar jackpots, you receive a check for the partial amount, and then you have 90 days to decide if you want to be paid a lump sum or an annual annuity on the balance. If you select the lump sum option, you receive only a percentage of your actual winnings. For example, the full winnings of one multi-million slot jackpot is paid in 25 annual installments, or you can take a lump sum of 60 percent of the winnings.
IRS Withholding
All casino winnings are subject to federal taxes. However, the IRS only requires the casinos to report wins over $1,200 on slots and video poker machines or other games such as keno, lottery or horse racing. When you have a win equal to or greater than $1200, you are issued a W-2G form. This form lists your name, address and Social Security number. The casinos are not required to take out withholding tax on jackpots under $5,000 as long you supply your Social Security number. If you don’t provide your Social Security number, the casinos withhold 28 percent on small jackpots.
You can request a specific amount of withholding tax to be taken out of any jackpot you win. Some players like to do this to avoid a big tax payment in April when they file their income tax returns. The additional withholding may not be necessary if you keep a log book. The law allows you to deduct gambling losses up to the amount of your winnings. You can only do this if you have documentation of your losses. Gambling legal age. Keeping a diary or log book is the way to do this.
Proper Identification
Casinos can refuse to pay you until you produce proper identification—a photo ID such as a driver’s license, military ID or passport.
If you don’t produce an ID, you are photographed and the casino holds your winnings until you come back with proper ID. For this reason, you should always carry a valid form of identification with you when you visit the casino.
When the casino checks your identification, it also checks your age to make sure you are legally old enough to play. The minimum age for gambling varies from state to state, but under-age gamblers are not be paid if they hit a jackpot. This is the law in all jurisdictions, and it has been upheld in court.
Plan Ahead
Before you start playing your favorite slot machine you should have a plan for the day you hit a jackpot. Players become excited when they hit the big one, and this may affect the decisions you make about your winnings. It is helpful if you know ahead of time how much withholding you want taken out or whether you want a check for all or some of the amount.
INTRODUCTION
Winstar is a 5-reel 10-line slot machine game with a Space theme. Get a win for matching 3 or more symbols on a winline, with all wins paying adjacent. Each symbol is stacked on the reel giving the player more chances to win big!
CONTENTS
How To Play
Progressive Jackpot
Auto Play
Payout Information and Game Rules
RTP
Progressive Jackpot
Auto Play
Payout Information and Game Rules
RTP
How To Play
Instructions
- Touch the Total Bet button to increase or decrease the amount of your TOTAL STAKE.
- Bet by touching the value of the Total Bet you wish to play (depending on Operator configuration and currency equivalent).
- Click 'SPIN' to start your game.
- The reels will spin and eventually stop at random.
- There is an Autoplay function in the game that will start each spin automatically. If you wish to cancel this during your auto spins then simply press the Stop Autoplay button which will appear where the Autoplay button was previously along with the remaining number of spins.
Reel Wins
- Line wins are multiplied by the value bet on the winning line.
- All Wins across all different lines are added together to form the total win.
- All line pay symbols must appear on a played line and on consecutive lines beginning with the far left reel.
- Only the highest line win is paid on each line.
Winstar Mystery Symbol
- During any spin if any Winstar symbols land on the reels they will animate and reveal a symbol at random, which will be displayed from every winstar symbol in view.
Progressive Jackpot
- The Progressive Jackpot can be won during any spin. Getting 5 Gold Reels during any Spin awards the progressive jackpot.
- The Progressive Jackpot is available on any stake.
- The Progressive Jackpot win and trigger mechanic is a random event.
- When the jackpot is won, it is reset to the Reserve Pot amount and begins to rise again (0.4% Reserve).
- Simultaneous jackpot wins cannot occur. Should two players appear to win the jackpot at the same time the first player to trigger the jackpot will win the whole jackpot amount, the second player would win the reserve pot plus any further contributions made.
- The first player triggering the Jackpot will be awarded the full win, with the secondary player being awarded the value of the reseeded amount plus any spin contributions (if any).In the event of a communication error after a progressive win result has been determined and before it has been displayed on screen, the win amount will automatically be transferred to the player's account.
- While the game is live, its jackpots cannot be terminated. If the game is removed, the outstanding pool amount can be transferred to another jackpot.
- Jackpots are funded by contributions from the player's stake except for the initial seed which is funded by the Operator (4% + 0.4% Reserve).
Auto Play
- There is an Autoplay function in the game that will start each spin automatically.
- By selecting 'AUTOPLAY' you can choose to place up to 100 bets automatically, one after the other.
- Select your stake as normal then press the 'AUTOPLAY' button to select the number of 'Autoplay' bets you want to play.
- Select your Loss Limit (maximum amount willing to lose for the autoplay session) and then press PLAY to begin your autoplays (other options are available).
- Auto Play will turn off if you get into any bonus round including Freespins, if you reach the set Loss Limit or if a Progressive pot is awarded (where applicable).
- You can stop Auto Play from continuing onto the next spin by clicking the 'STOP' button
(The following additional functions are also applicable depending on jurisdiction)
Winstar Casino Winners Gallery
Payout Information and Game Rules
- Line wins are multiplied by the value bet on the winning line.
- Wins on different paylines are added.
- All line pay symbols must appear on a played line and on consecutive adjacent reels. Only the highest line win is paid on each line.
- MALFUNCTION VOIDS ALL PLAYS AND PAYS.
RTP
- This game has a theoretical return to player of 92.03% plus promotional progressive jackpot. This is based on long term payback.
The maximum win from a single game is £250,000 or 10,000xBet - whichever is reached first (depending on currency. Other Operator limits may apply). Grand mondial casino.
Winstar World Casino Winners
Last modification date: 11/3/2020