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Slot win: The casino's win, which flows to the revenue line of the income statement. Below I have two examples, one from Las Vegas Sands ' Venetian Macau and the other from Wynn Resorts ' Las ...
In essence, the court held that Section 165(d) only applies when a taxpayer is at a loss instead of a net gain and “serves to prevent the [taxpayer] from using that loss to offset other income.” However, if the taxpayer has a net gain, as the horse-race gambler did, then the taxpayer may deduct the expenses under Section 162, and Section ...
Theoretical loss is the amount of money a player is expected to lose based on the long run statistical advantage the casino has on the particular game being played. Theoretical loss algorithms differ by casino, but the logic behind the calculation generally works like this: Theoretical Loss = (Casino Advantage) × (Total Wager) [citation needed]
If the Jets win by 3, the advantage player collects on both bets. If the Jets win by either 2 or 4, the advantage player collects on one winning bet and the other "push." And if the Jets win or lose by any other total, the two bets cancel out, leaving the advantage player to pay only the vigorish on the bets.
On each loss, the bet is doubled. Thus, taking k as the number of preceding consecutive losses, the player will always bet 2 k units. With a win on any given spin, the gambler will net 1 unit over the total amount wagered to that point. Once this win is achieved, the gambler restarts the system with a 1 unit bet.
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For example, if one player takes team A and the other takes team B and each wager $110 to win $100, it doesn't matter what team wins; the casino makes money. They take $100 of the $110 from the losing bet and pay the winner, keeping the extra $10 for themselves.
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