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Nov 3, 2023 · Tax Implications. A key aspect of hand pays in the U.S. is the requirement to complete W-2G tax paperwork for any jackpot exceeding $1,200. Here are some key points on how this affects your winnings: The casino will withhold 24% off the top for federal gambling taxes if the amount won is over $5,000.

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The bombastic live streamer went on a wild session where he was betting $500 a spin before finally landing a jackpot prize worth nearly six figures. ... Hand Pay scored an $11,500 handpay on a hold-and-spin feature at around the 10-minute mark of the session, and at the 29-minute mark he hit another hold-and-spin bonus worth $39,500.

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