Those
teachable electrons
16 November 2007
By Mark Pilarski
Dear Mark: I played on a video poker game where
you were guaranteed at least one deuce. If, as
you say, the machine deals each randomly, how
can I be guaranteed a deuce? Gary N.
The casinos where I live, Gary, don't offer the
variation of video poker you write of: Deuce on
the Deal from Bally's, where you have the option
of playing five extra coins to guarantee you at
least one deuce on the opening hand.
Without some field testing where I would usually
take a whack at this version of video poker, I
am guessing with reasonable certainty that the
machine still uses a random number generator,
but it has been programmed to keep spitting out
hands until one of them contains a deuce. Then
that set of cards becomes your starting hand.
Likewise, if you don't pay the bonus coin
amount, you are essentially playing Deuces Wild
video poker.
Dear Mark: This year to date, I have two slot
jackpot wins, one of $1,200, and another of
$1,500. I was told by a friend not to worry
because you are allowed to deduct all of my
documented gaming losses for that year, which
total approximately $4,700? Is this true?
Maureen P.
Since, Maureen, you probably received W-2G's
from the casino, one for $1,200 and the other
for $1,500, those gambling wins will need to be
reported on tax form 1040 on the Other Income
Line. Don't try to go blotto on me and forget to
attach those W2-G's along with your occupation's
W-2 form(s) because any single-win amount in
slots over $1,200, is required to be reported to
the IRS by the casino. Luckily, Maureen, you can
offset the taxes on your win(s) by reporting
your losses if you keep flawless records.
Gambling losses, so long as you itemize rather
than take the standard deduction on your tax
return, can be used only to counterbalance
gambling wins during that same tax period. So
even though your overall losses for the year are
$4,700, to date, you can deduct only $2,700 of
your total losses in the Other Miscellaneous
Deductions section on your Schedule A.
Dear Mark: Is the side bets at Caribbean Stud
Poker worth a dollar wager? Really, what's a
buck when I have a chance of winning $100,000?
David O.
What you should be asking, David, is; "Are the
odds of being dealt a "natural" royal flush,"
along with a pipe dream payoff of $100,000,
worth it?"
Since the true odds are almost 650,000 to 1 of
getting a natural, unless you see a progressive
figure closing in on those high odds, the
$100,000 plus jackpot may look seductive; but
it's still not worth my dollar wager.
Dear Mark: When paid for a Five-card Charlie in
blackjack, how much of an edge do you get
against the casino? Larry W.
A Five-card Charlie occurs when after hitting
and receiving a total of five cards without
busting, and the dealer doesn't get a blackjack,
you automatically win, and get paid a bonus of
two-to-one for your gambling prowess.
Few casinos, Larry, award this hand. Still, as
with any rule variation in blackjack, they all
have some effect on the player's expected
return. So, taking into consideration typical
blackjack rules and the use of basic strategy,
getting paid for a Five-card Charlie, where or
if you can find it, rewards you with an
additional +1.46%, which now gives you a
positive expectation against the game.
Dear Mark: For the average player, does it make
any difference in blackjack whether there is one
player on the game, or if the table is full?
Kelly D.
Oops, I'm a bit short on space, Kelly, so you're
getting the 25¢ special today: NO.
Gambling Wisdom of the Week:
"Fear is the basis of all mankind. In cards, you
psyche 'em out, you shark 'em, you put the fear
of God in 'em." -- Puggy Pearson, 1973 WSOP
winner (1975)
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