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Yes, people actually win on slot machines. Here's a gallery of some of the jackpot photos that fellow Trippers have sent to us plus a couple of our own. If you've got a jackpot photo to share email it to us at: jackpots at vegastripping dot com along with a little description.
USED SLOT MACHINES
Used Slot Machines, refurbished slots and video poker machines.
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The slot machines are sold for home use and casino entertainment purpose and for gambling in casino! If you don’t see a slot machine you want please e-mail us as we are constantly updating our slot machine inventory and have over 500 slot machines in stock ! A slot machine or video poker machine will cost about $150.00 to $300.00 to ship it to your door. It will be crated and protected from damage for trucking company pick up.
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IGT Slot Machine BALLY Slot Machine WMS WILLIAMS Slot Machine CDS Slot Machine SIGMA Slot Machine KONAMI Slot Machine WMS Gaming Inc. manufacture some of the most popular and innovative Reel and video slot machine tittles in the world. A combination of the newest technologies, reliability and game personality make WMS Gaming a big time player for class 3 casino games. We are pleased to offer these late model WMS games completely Refurbished and at a price that will be very hard to beat. More Bally Proslots are in Stock and will be online soon! With a history dating back nearly 70 years, Bally Gaming Systems is firmly established as a leading supplier of innovative products to the gaming industry. In fact, Bally is one of only a few companies in the world that supplies the entire spectrum of gaming machines and technology, from reel-spinning and video slots to system software and wide-area progressives. IGT (International Game Technology) is the worlds largest supplier/manufacturer of Casino gaming machines. IGT has done for the gaming industry what Microsoft has done for the computer industry. IGT is known internationally for producing (by far) the most slot machine titles and slot machine themes. IGT has been acredited for popular slot machine titles such as “Double Diamonds”, “Red White & Blue”, “Five Times pay” and “Wild Cherry”. They are also known for their licensed or “Systems” games such as “Wheel of Fortune” and the “Mega Bucks”. while Innovations such as the “Game King” platform machines continue to be the most played games on today’s casino floor. IGT machines are extremely reliable in design and make an excellent choice, whether for a real casino or the home
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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
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
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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. Keeping a diary or log book is the way to do this.
Proper Identification
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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.
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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.
Huge Slot Machine Jackpots
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.