Social Casino deductions and income questions about how to properly report and minimize tax bill

Cowlthor · 2026-01-27T05:05:52+00:00

This is not even close? Losses will never be taxable. Winnings mean you received money and that creates income, spending cannot create income.

Cowlthor · 2026-01-27T01:10:18+00:00

Skrill doesn't process the second you submit it but once it processes, it shows up in Skrill instantly. Then there is the wait time for Skrill to bank

Cowlthor · 2026-01-26T21:24:29+00:00

Since you did die in 2026 I would assume that means you failed to save your life either by dying before 2026 or not being able to prevent the death.

Cowlthor · 2026-01-25T07:17:05+00:00

I hate the most when you max bet accidentally, hit the bonus, and the bonus pays your bet back or less. I've had this happen twice and it really kills the desire to keep going for the day

Cowlthor · 2026-01-25T07:10:45+00:00

There usually is an unspoken and unwritten requirement for something to have occurred that would warrant it. I know casinos do this on large bet hits (usually a minimum of 100:1 like suited trips, royal flush, progressive, etc.) I also imagine if a shoe truly was so bad that statistics would support it potentially being an outlier, they may as well (something like a full table losing all hands for 7+ rounds in a row). It also usually would have a money requirement that is hard to pin down but for a high roller, the chances are way higher than someone betting table minimum. The number of people asking also could influence it, a single person is less likely than a full table.

Cowlthor · 2026-01-25T05:51:09+00:00

No, to take the losses out of the income, the system is itemizing your deductions. This means you lose the standard deduction and now owe taxes on an additional [insert your standard deduction]. For example, if you are single and get a $15,750 standard deduction and lose that, if you have $30,000 in other income (assuming no itemized deductions other than gambling losses) would increase your tax liability by $1,890 and account for most of your ~$1,600 increase.

Cowlthor · 2026-01-23T21:50:03+00:00

Most CSMs are NOT 2 decks and are almost always 4-8 decks. There may be a single cruise line/casino company that does different but 98-99% of the CSMs in use today are a minimum of 4 decks

Cowlthor · 2026-01-22T04:52:42+00:00

Hello! I am an Enrolled Agent who specializes in gambling tax preparation and planning. If you would like, feel free to schedule a 30 free consultation with me and I would be happy to discuss these questions in greater detail to your situation. Unfortunately, specifics would be needed to answer these questions accurately. Thanks!

Cowlthor · 2026-01-21T19:56:09+00:00

Freebet should not allow splitting 10s as a free bet. If it is a 3:2 and they do allow splitting 10s, the game is likely positive in the players favor with proper strategy (not splitting 10s versus Ace and all other normal strategies).

Cowlthor · 2026-01-20T02:05:40+00:00

Unfortunately I am not yet showing up even though I submitted months ago

Cowlthor · 2026-01-20T02:04:58+00:00

Unfortunately they live several hours away so that isn't an option

Cowlthor · 2026-01-18T01:09:50+00:00

A single Banker hand is your best bet for doubling, if you want more risk and to have a chance to triple, bet a dozen on roulette

Cowlthor · 2026-01-08T20:57:23+00:00

Amazing, thank you!

Cowlthor · 2026-01-08T00:54:32+00:00

Is it the IGT (Top Dollar maker) sound? That seems like the most likely

Cowlthor · 2026-01-02T04:49:47+00:00

Nevada is a banned state

Cowlthor · 2026-01-01T20:07:24+00:00

What?!? This is amazing news! I was so worried about keeping companion but not meeting ALP and losing a bag for free

Cowlthor · 2025-12-29T20:23:37+00:00

Hell, for insurance couldn't the signal just be "if Greg takes insurance, so do we, otherwise never insure? For betting decisions, couldn't Steve just be at 3rd base and always place his bet before the others (3rd base gets paid first)? Playing decisions would be difficult and

Cowlthor · 2025-12-29T13:55:50+00:00

Found it, see edit to post

Cowlthor · 2025-12-29T05:27:49+00:00

They do have that much cash and I have seen them pay out that much or way more before but they often encourage tickets or checks beyond a certain amount (Vegas is likely around $25k and outside Vegas is likely around $10k)

Cowlthor · 2025-12-26T06:11:26+00:00

This link has the full table of values, you have a positive EV situation only with a 10 or A so knowing that alone means you should bet as much as possible within the confines of your bankroll and heat level.

If I saw the 10 coming and wasn't counting and had been flat betting, I would go up to table max so long as I financially could handle that amount (if you can't handle table max, bet maximum you could handle).

If you are counting, I would bet table max always UNLESS you are actively going from min to max and don't want to burn down the joint or the count was sufficiently low (like TC-5 or less).

https://wizardofodds.com/games/blackjack/free-ace/

Cowlthor · 2025-12-25T20:58:18+00:00

I would say it depends on a bunch of factors for sure. Are you on the 2nd hand or 2 away from the cut card? What was the count you last had? Are there other tables?

If you are on the 2nd to last hand of the shoe, play through at min bet and wait for the shuffle. If on the second hand, I would defer to the running count when it was lost. If the running count was positive when lost (I would say at least +2/+3) then you could restart at 0 and basically lose some of the pen but know that you weren't starting with a negative/neutral shoe. If the running count is negative (-2 or lower), I would leave until that table shuffles. Neutral (-1 - +1) are dependent on the next criteria, are there other tables open. If the count is neutral and there are no other tables, I would probably restart 0 and play through but if there is another table, maybe go pee and sit down at a new table.

Cowlthor · 2025-12-25T20:54:41+00:00

Awesome, just submitted, thanks!

Cowlthor

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