1/2 PLO is 100/500 buyin but doesn't usually run. 2/5 PLO runs much more often.

actually, you both keep your separate MLIFE account numbers for comps/offers/points, but can get the tier benefits and tier card (like free parking).

Thx.

Gn used to have bonus points as well so you can easily go from 'elite trade up ' to full elite within the 3 month time period.

But I don't see it anymore

Is there any reason why the 1/2 game doesn't run that often? I was there this weekend and sometimes there seem to be enough ppls on the list but look like Floor are more interest in getting the 2/5 going more than 1/2. Just a casual observation.

They call the list and the game doesn't go. Most of the people on it are sitting in other games, and they all wait to see if a full table will show up. When it does go, it may break quickly when they don't get players coming in.

I've been there some Saturday nights when it has run all night, others when they can't get it going and/or it doesn't last. If 2/5 is going, it probably takes some players who'd sustain a 1/2 if it was the only game. Most of the action junkies probably prefer the bigger game.

Did Borgata change their smoking policy recently (last six months)? The casino floor was WAY smokier than I remember.

They made some changes a few months ago to where the smoking areas are, but nothing major. The Racebook became non-smoking when sports betting opened.

pretty much this.
almost none of the plo borgat players want to play that low.this is why you'll see night with 3-4 2/5 plo games but no 1/2.

and then the few who do want to play 1/2 are all scared to play short handed even if it's just for a little while until the game fills.

what is the min max buy in for the 2/5 PLO?

Is it like vegas where they have a rock?

The 1/2 PLO in vegas was pretty good - $5 bring in. I would assume that is the same in borgata?

This is incorrect according to the online rep on here. You get credited beginning of each month

no rock
no 5 dollar bring in for the 1/2

the 1/2 at aria and wynn is a way better game than the 1/2 plo at borgata

How early can one realistically check-in to a Borgata room on a say Sunday or Monday morning during the Summer? I have a Gold Card if that matters.

Where are they playing the summer open? Will there be cash games by the afternoon on Saturday?

There is a tournament room next to Bobby Flay's restaurant and near the surface parking lot entrance where most of the tournament games are played. Sometimes, when there is more than one tournament going on, the games will also be held in the poker room.

There are always cash games running at Borgata.

Hi,

The most I won from a tournament was ~5k and I wasn't issued a tax form. Could anyone provide any information regarding taxes with poker winnings and table game winnings?

https://summerpokeropen.blog.theborg...-event-8-2018/

For event 8, 6 players split the prize pool - did they have to file taxes for their wins? I've heard winning exceeding 10k must be reported - is this true?

Also - what if you are playing 5-10 PLO and cashed out 10K+, will Borgata question/ask for id/issue tax form?

In another scenario - what if a black jack player cashes out 50K, will any questions be asked?

Thanks in advance if anyone can answer these questions!

not sure if joking but you have to file taxes for all of your winnings

you will be 100% asked for your card for any $10K+ cashout as Borg is required to submit a CTR (most of the time they will ask for one for anything over $5K)

Not joking - I've seen people in tournament final tables restructuring the payout to avoid having to pay taxes on them. I've cashed out 6k in chips from blackjack and no questions as asked - they simply asked to see my ID to verify I'm 21+. I've also seen high rollers ask multiple people to go cash their chips for them separately to avoid being issue a CTR. I know professional gamblers must keep a ledger of all wins and losses for the end of the year - as a recreational player - I am just asking because the rules aren't posted except for the poker room's cage where it states winning if 10K+ must be reported.

I haven't played a tourney since 2013, but at that time it was not legal in NJ to chop, so any chops were done by the players. This resulted in players having to take the tax equivalent of the position payouts, not on the chopped agreed amounts.

That was 5 years ago, not sure if NJ changed he rules since then

W-2G will be issues anytime your Cash amount - Buy-in > $5,000.

Example: In an opening event with a $600 buy-in, W-2G will be issued anytime player cashes for over $5,600.

Borgata now facilitates chops and actually rewrites prizes to report what each player actually got. When/if you chop for over $5k profit, make sure that the reflected amount is the one you are actually receiving. Otherwise, you could be subjecting yourself to significant tax liability.

So in your example, lets say the Borgata Open event $600 buyin

110th - 100th Place gets paid 5500 - No Tax
99th - 90th Place gets paid 6000 - 33% Taxed (5400 Profit) - 1782 goes to tax - Remaining profit - 4218

With ICM taken into consideration - you're better off busting between 110 - 100th than 99-90th?

Also - do you know about table games? If you buyin for 5k+ at a blackjack table you will get a W-2 issued?

I'm not an accountant, or lawyer.

My understanding is the same as AF.

You don't need to be issue a form to report your winnings and pay taxes. You still owe the taxes, even if they didn't file a form.


Yes, I suspect that not everyone reports all winning, or pays full taxes that they owe.

Yes, I've also heard about people trying to avoid reports by cashing out smaller amounts over different periods of time, by having others cash out for them, or simply keeping the chips (not cashing out). Still doesn't change the fact that taxes may be owed.

You are skirting dangerously close to discussion of illegal activities. Please avoid going over the line so we don't need to moderate anything.

1- No amount of structuring your cashouts will let you (legally or illegally) avoid "having to pay taxes". You are responsible for paying taxes on any gambling winnings (even $1) according to your local jurisdiction, regardless of how you take the cashout.

1a- You probably can't even avoid withholding (W-2G) in most cases, since most casinos have a formula they use for tourney wins, and will never issue W-2Gs for cash game wins (since they don't track how much you bought in for and have no idea whether a cashout even corresponds to a win or a loss).

2- The only thing you might accomplish is avoiding a CTR or SAR. These are not IRS/tax documents, they are FinCEN/Homeland Security ones. They don't give or remove tax liability, they allow DHS to track and prosecute money laundering. (Though there are some who believe that they may also find their way to the IRS and make audits more likely, I don't know if there is evidence to support this one way or another.)

3- Structuring your cashout to avoid CTRs is actually illegal, so if you do this you may take a completely legal activity (cashing out your money) and turn it into an illegal one (structuring). Don't do this.

4- If you structure and the casino finds out or even suspects (which they probably will, eventually... surveillance is very good at this), instead of a CTR you will get an SAR (suspicious activity report) filed against you instead, and you'll continue to generate them every time you cash out from that point forward. If you think having a CTR filed is bad, imagine what having hundreds of SARs will do for you.

5- The "rules" aren't posted because the casino is forbidden from discussing them by DHS. You will never get a straight answer about their reporting cutoffs, at least not formally/publicly. You can do all the research you want on the FinCEN anti-money-laundering laws, though. Or just listen to us here.

6- Bottom line, don't worry about CTRs. Cash out however you would normally, and just don't worry about it. You should also pay your taxes on your winnings, but whether you do or not has nothing to do with the issuance of CTRs.

Thank you for the info... just wanted to know as you mentioned casino almost never mention tax codes/regulations.

For smaller payouts for tourneys - the most I've won was roughly 4k at Borgata - no W2G was issued and no money were withheld for tax purposes - they simply asked if I wanted chips or cash. In turn, I thought that W2-G are only issued and have taxes withheld only if you won over a certain amount.

In my case - should money had been with held and I be issued a W2-G and Borgata simply didn't?

For example, $600 buyin Borgata Open:
110th - 100th Place gets paid 5500 - No Tax - $4900 Profit - No W2-G issued/Nothing is withheld for tax purposes.

99th - 90th Place gets paid 6000 - 33% Taxed (5400 Profit) - W2-G issued + 1782 is withheld for tax - Remaining profit - 4218

Are players better off busting between 110 - 100th than 99-90th?

Only the ones who intend to break the law by not reporting their winnings and not paying taxes on them.

The casino doesn't take the tax out ≠ You don't owe any tax.

Also the IRS rules for reporting
Winnings and losses
(or keeping written records,)
and other
Odds and ends is different in
New Jersey than it is in
Las Vegas, so keep that in
Mind too. (Don't rely on
Information your accountant
In Nevada gave you
A few years ago.)

The Summer Poker Open
Championship starts July 22,
Daily online qualifiers into
The Summer Poker Events
continue until July 22.
Meanwhile, the Borgata has
Some great promotions
This month, including
High hand of the hour
Promotions every 20
Minutes or 30 minutes.
A free buffet if you play
5 tournaments,
Monthly bonus express comps,
Exclusive room offer,
Free parking 2X a month,
your offer may vary,
- And I got a free
T-shirt for their
15th year anniversary!