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1. Slot Machine Jackpot Winners
2. Slot Machine Jackpots 2020
3. Largest Slot Machine Jackpot
4. Slot Machine Jackpot Sound
5. February 2020 Buffalo Slot Machine Jackpots
6. Slot Machine Jackpotter

Slot Machine Jackpot Winners

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.

Select a game with a jackpot. There are many slots online that distribute jackpot prizes, fixed for progressive ones. Some slot machines can even boast of up to 4 jackpots: minor, major, mystery, etc. Though, be careful when choosing a progressive machine because some of them require high stakes.

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

Slot Machine Jackpots 2020

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

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.

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.

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.

• RTP: 95.24%
• Autoplay Feature: Yes
• Number of Reels: 5
• Paylines: 20
• Volatility: Medium
• Jackpots: Yes
• Software Provider: Red Tiger Gaming

Besides craic, Ireland is best known for the four-leaf lucky clovers, magic leprechaun and pots of gold. Therefore, it doesn’t come by any surprise that Red Tiger’s new Rainbow Jackpots slot has all these features and more. The game boasts of an incredible RTP of 94.17% and has a progressive jackpot that sometimes spins to an excess of €1 million.

If you miss out on this prestigious win that most of the players seem to be searching for, the game has plenty of other symbols and features that work in sync to ensure you get as much as 1,000× multiplier on your bet.

How do you get the most out of Rainbow Jackpots? The simple way is to get a strategy that will ensure you get all the five gold coin wild symbols along an active payline. If you achieve this fete, you get to walk away with the prestigious progressive jackpot.

More tips on how you can increase your chances of lining up these symbols on the active payline and more details about how to play Rainbow Jackpots slot machine online are included in the brief review!

About Rainbow Jackpots Game

Is there any better way of describing treasures and prosperity than a pot filled with gold? Of course not and you can now grab one as you play Rainbow Jackpots for real money online. This fantastic and beautifully designed game give you astonishing graphics that are mixed with advanced animations, which perfectly blend in with the audio in the background. Together with the number of exciting bonus rounds, they make up a slot, which every slot fan should give a try!

The main field in Rainbow Jackpots slot constitutes of 3 rows, 5 reels and a maximum of 20 paylines. In order to win as you play Rainbow Jackpots casino slot online, you need to catch a minimum of three symbols, side by side starting from the leftmost reels.

In addition to the basic symbols, there are three very special ones. The Golden Coin symbol, which is the game’s Wild; the symbol representing three pints (beers), which is the bonus icon; and a pot full of gold, which gets you free spins.

Let’s take a quick look at what each one of these symbols contributes to the overall gameplay.

In-game Bonuses

The Free Spins Feature

Largest Slot Machine Jackpot

You don’t need to press any button to activate this round. Instead, all you need is to line-up a trio of gold pot symbols anywhere on the reels. Once it’s active, you are presented with a chance to click on any one of the pot symbols to show the number of free spins that you’ve been awarded.

The Beer Bonus

For this option to start, you also need to land a trio of beer icons. Once active, you’ll play a pick-and-win game where you can win multipliers and cash prizes, which are added to the base winnings.

The Lucky Leprechaun Game

Slot Machine Jackpot Sound

This is another bonus game, which unlike the two outgoing rounds, it’s randomly triggered by the Leprechaun himself. When it starts, you get to receive free spins that will add matching or coins into the reels, not forgetting to mention multipliers.

Additional Rules to Better Your Experience

February 2020 Buffalo Slot Machine Jackpots

1. Only choose the best casinos online if you want to have a fair gaming experience;
2. Play Rainbow after understanding the basic rules of how to play slot entirely;
3. To have a better understanding of the game, try it for free before committing real money.

Get Lucky!

Slot Machine Jackpotter

Red Tiger’s Rainbow Jackpots has only added to the value of the Irish-themed video slots. The game is as colourful as sin, crammed with different features, and most excitingly, a daily, mega and progressive jackpot for you to play for. Overall, this video slot punches with full weight and skill, and we won’t be shy to recommend it!