This was originally posted in NVG but I guess a mod thought it was not appropriate for that sub-forum and buried it in the NVG low content thread.
Hopefully this sub-forum is better suited for it.
I recently returned from the native American Meskwaki casino in Tama, Iowa where I played in an MSPT event. In my view, they are overcharging the players in some of their events.
They had several tournaments they advertised as "$65 Multi-Table SUPER Satellite - 20% advance to $250 Qualifiers".
They also had qualifiers that were advertised as "$220+30+10 MSPT Main Event Qualifier - 20% advance".
The receipt for the $250 qualifiers showed:
Buy In - $220
Player Fee - $0
Administrative Fee - $30
Buy In Amount - $250
($220 went to the prize pool)
Players were charged $250 to enter and then when you got to your table you had the "option" of giving the dealer $10 for a "dealer appreciation add-on of 2000 additional chips.
These forced tips are fairly common any more. Technically they are "optional" but in practice they are competitively mandatory. I'll leave whether these are fair or deceptive to another thread.
Disregarding the "optional" add-on cost, if you played a $250 event you got a receipt for $250.
My problem was with the $65 events. Their receipts show:
Buy In - $50
Player Fee - $4.00
Administrative Fee - $6.00
Buy In Amount - $60
($50 went to the prize pool)
Players were charged $65 to enter and then had to pay another $5 at the table for their "dealer appreciation" add on chips.
I thought they had made a mistake and went back to the podium. Told them I had paid $65 which I thought was the entry fee plus the add-on "tip". I was told there was no mistake, that's how they did it. I pointed out that I had a receipt that, for tax purposes, showed I had paid $60 but actually cost me $65.
I realize I don't get a receipt for the "dealer appreciation" tip since technically it is optional and not a charge to enter.
I asked others at my table what they had paid and all said $65 plus the $5 add-on.
Some may consider this nit-picking but it actually has a major effect on the cost of play.
Say you played 1000 of these in a year at a cost of $65,000 (disregarding the add-on) and cashed for a total of $65,000. You would have had a break even year.
But come tax time, you are required to show $65,000 in income to the IRS and are only allowed to deduct $60,000 in buy ins, resulting in a $5000 gain in income on which you must pay 40% in taxes (ymmv).
So, by having a break even year, you will owe the IRS an additional $2000
Have any of you encountered this at other casinos? It's bad enough to pay the exorbitant rake involved in these small tournaments but I'd at least like to get a receipt for the actual amount I am charged to enter.
The MSPT advertises heavily the fact that their Main Event structure was designed by Allen Kessler and is "Chainsaw approved". I doubt he would approve of this hidden cost in their satellites.
Allen?
To be clear, after paying $65 to enter and $5 for dealer appreciation fee, total cost was $70. Receipt was for $60.
I'm not complaining about the dealer appreciation fee. My complaint is they charged $65 to enter but gave a receipt for $60.
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