Withholding Tax at US Casinos ??

JimmyHo

I am heading down to Seneca on Saturday. Just wondering how the withholding tax works when you are playing cash games. If you are ahead at the end of your session, will they withhold 30% when you try to cash out your chips? Does the 30% only apply to tournament wins? Can you buy chips at Seneca withhold a player's card and therefore withholding is not an issue with the cash games?

compuease

There is no withholding tax on cash games or anywhere that you don't have to provide ID. Only significant tournament wins would be subject to the withholding. Now as for amount I'm not 100% sure... I've never won enough, couple of $1000-1200 wins in Vegas but nothing more than that... Some places have said over $1200. or over $600. but it varies at different casino properties.

folded

I was held 30% at Seneca a few months ago in a couple tourneys i played. (Regardless of amount, they will withhold 30% off the top)

JimmyHo

thanks, so for most casinos in the US you can buy into the cash games without a player's card and cash out your winnings without ID? I was thinking you could always sell your chips to another player anyways to avoid the withholding (at a cash game). Hopefully I will have a withholding problem after the tournament

blackmagicz

With holding in vegas usually counts when there is a jackpot/tourney hit something the casino has to keep track of. Whenever I have played in vegas and cashed out over 1K at the poker room no one asks any questions.

The only casino in vegas that I know of that does not withhold taxes is the venetian, as I won a tourney there last year.

What they also do to if you don't really care about standings is they place a guy from the US as the winner (they did this in the mirage tourney for me) and me out of the money (So if top 2 get paid I finish 3). As long as they have a record of who one (accurate or not) it is ok.

The pit bosses are usually ok when it comes to these things and I have seen it done many times. They will even ask if there are any foreigners at the final table to let them know the 30% withholding is applicable...and how to get around it

JimmyHo

blackmagicz wrote: »

The pit bosses are usually ok when it comes to these things and I have seen it done many times. They will even ask if there are any foreigners at the final table to let them know the 30% withholding is applicable...and how to get around it

Wishful thinking; hopefully I will have a decent trip report next week. Thanks again for the help and suggestions.

blackmagicz

No problem....I hope to have some sort of trip report for the sunday game....I play way too much and never actually think to write any stuff down about my games.....

I will make mental notes about the tourney on sunday....

JimmyHo

blackmagicz wrote: »

No problem....I hope to have some sort of trip report for the sunday game....I play way too much and never actually think to write any stuff down about my games.....

I will make mental notes about the tourney on sunday....

I will also be playing in the Sunday Seneca tournament. Will you be trying any of the satellites for the $1k event? The $120 tournament at 7pm on Saturday seems pretty good w $3,500 in starting chips and 20 minute blinds. Better structure than the Niagara satellites. Good luck in the tournament. I will likely be wearing a Richmond Hill Soccer Club cap if you happen to be at my table.

blackmagicz

I was thinking about going up Saturday but I am staying with the g/f that night, so Sunday morning I am heading up (she is about 20 minutes form the border)

I'll be wearing my "HEE HAW" donkey cap

Inquirer

folded wrote: »

I was held 30% at Seneca a few months ago in a couple tourneys i played. (Regardless of amount, they will withhold 30% off the top)

So did you end up getting the 30% back? If so, could you go over the process of recovering that 30% or anyone who has had the portion held?

I managed to cash at the Seneca tournament today (or yesterday I guess). I was given some form at the cage but she didn't really offer any advice.