Payouts in Canada
Hi Top Dollar:
I must admit -- I not had a jackpot larger than $3,000. However ... I have never signed a form ... and I have always been paid in cash. There is likely a point where they issue a cashier's check ... but I'm not sure about the threshold.
I think there is a limit on the funds going over the border ... however, you should be able to deposit funds into your US bank account or mail a check to yourself.
In Ontario, Canada, the government (Ontario Lottery Gaming Corporation) runs all of the casinos in the Province. Lottery winnings are also non-taxable.
Technically ... as a US-resident, I guess you are expected to claim big wins in your income -- but I wonder if the IRS will late you claim Canadian losses? I have my doubts.
I think tracking your $$ meticulously is not a bad idea ... you can see the machines are are ahead of over the long run -- and which ones drain you the most.
/\/\/\/\ the Shamus /\/\/\/\
PS - Sorry I didn't get back to you on a timely basis.
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