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o.k, so you just hit a major progressive jackpot!!! what happens next ?

Discussion in 'Online Casinos' started by GGW Laurie, Jun 16, 2008.

    Jun 16, 2008
  1. GGW Laurie

    GGW Laurie Dormant account webmeister

    Occupation:
    Self Employed
    Location:
    In the Beautiful South !!
    just a question i have always thought about, its got to be like a billion to one odds but like they say in the lottery someone will win:D.if you were to be that lucky person and hit the over 3 million jackpot, how is it paid? partial, lump sum or what ever the casino pays out per week? could you ask for it to be sent to your bank and pay the taxes on it? i would like to know just how this is done and how any of the casinos have handled this on past winners, i mean they do exist, the over million dollar winners, right?...................laurie
     
  2. Jun 16, 2008
  3. GaryWatson

    GaryWatson Dormant account

    Occupation:
    Marketing Consultant
    Location:
    Europe
    I got paid in a $20 lump sum but I heard even bigger winners have been paid in installments, dependent on the site. As for tax. I dont pay tax on winnings. I think that is the standard in the UK, although ive never had a big enough win for it to be an issue.
     
    1 person likes this.
  4. Jun 16, 2008
  5. Casinomeister

    Casinomeister Forum Cheermeister Staff Member

    Occupation:
    Homemaker
    Location:
    Bierland
    It's usually lump sum - at least with Crypto, MGS and Playtech.

    If a casino offers to pay in installments, I would definitely turn that down. Lump sum and no exceptions.
     
    1 person likes this.
  6. Jun 16, 2008
  7. classymom

    classymom Senior Member

    Occupation:
    Customer Service
    Location:
    Port St lucie Florida
    But what if your in the States - wouldnt a big win cause a big flag to be waived with the banks?
     
    1 person likes this.
  8. Jun 16, 2008
  9. Mousey

    Mousey Ueber Meister Mouse CAG

    Occupation:
    Pencil Pusher
    Location:
    Up$hitCreek
    Since the UIGEA I will not play the big progressives... and even at RTGs, I stick with playing games w/JPs under $10k.

    While I've never hit a random or a progressive (and probably never will), let's just say, I don't won't the hassle of a huge windfall from an online casino right now.
     
    1 person likes this.
  10. Jun 16, 2008
  11. Casinomeister

    Casinomeister Forum Cheermeister Staff Member

    Occupation:
    Homemaker
    Location:
    Bierland
    Good question. You might have to make some sort of arrangements for payments. I know in the past of a guy in NY who won the Major Millions progressive for 1.6 mill. He had no problem getting paid - but this was before the new US law.
     
    1 person likes this.
  12. Jun 16, 2008
  13. uungy

    uungy Dormant account PABnononaccred PABnoaccred PABaccred

    If you win on a Wagerworks casino, you would get paid in installments
     
    1 person likes this.
  14. Jun 16, 2008
  15. Casinomeister

    Casinomeister Forum Cheermeister Staff Member

    Occupation:
    Homemaker
    Location:
    Bierland
    That sucks. But on the upside, Wagerworks is a well funded publicly traded company based in the US. Welching on payments wouldn't be an issue.
     
  16. Jun 16, 2008
  17. james01

    james01 Dormant account

    Occupation:
    Webmaster
    Location:
    Germany
    Unless they go under.
     
  18. Jun 16, 2008
  19. Casinomeister

    Casinomeister Forum Cheermeister Staff Member

    Occupation:
    Homemaker
    Location:
    Bierland
    I don't think IGT has "going under" in their business vocabulary :D
     
  20. Jun 16, 2008
  21. AuntieIdiot

    AuntieIdiot Meister Member

    Occupation:
    head chef and chief bottle washer
    Location:
    land of forbidden gambling
    I have also wondered how a "major progressive" would get paid to someone from the U.S. In 2005 (pre-UIGEA) I won almost $46,000 on LotsaLoot and it was wired to my bank account, no questions asked. I told my husband if I was to ever win another big jackpot I would fly out of country if I had to and pick up my check in person...is that an option? Inquiring minds do need to know!

    I have attached a screenshot of my LotsaLoot win as I have never posted it here before.
     
    16 people like this.
  22. Jun 16, 2008
  23. bb28

    bb28 Meister Member

    Occupation:
    Customer Service
    Location:
    US
    Wow! Bet that was awesome, belated congratulations!

    :thumbsup:
     
    1 person likes this.
  24. Jun 16, 2008
  25. GGW Laurie

    GGW Laurie Dormant account webmeister

    Occupation:
    Self Employed
    Location:
    In the Beautiful South !!
    ..........belated congrats also auntie:thumbsup: i have thought the same thing, id be packed and be on a plane as fast as you could say "jackpot":D im sure there is some law about how much you can bring back into the country, check or not.
     
    1 person likes this.
  26. Jun 17, 2008
  27. Westland Bowl

    Westland Bowl Tin Foil Hat Club Member CAG PABnonaccred

    Occupation:
    not applicable
    Location:
    America
    I myself wondered about this a while ago. I decided that if I win that kind of money, then I'll try to open a bank account in UK or elsewhere and get a debit/credit card from them to use Stateside. But if the American peso continues to fall, then that $3 million shrinks to what, below 1 million British Pounds?? (my keyboard doesn't have the pound sign.)
     
  28. Jun 17, 2008
  29. w8n4win

    w8n4win Full Member

    Occupation:
    Merchandiser
    Location:
    Right Here
    Wow, sweet win Auntie! Bet it took awhile to sink in that you had hit that!
     
  30. Jun 17, 2008
  31. AuntieIdiot

    AuntieIdiot Meister Member

    Occupation:
    head chef and chief bottle washer
    Location:
    land of forbidden gambling
    I literally sat there for an hour or so staring at the screen...I also called the casino to make sure it was for real...I was shocked beyond belief. I had just signed up at the casino (Maple Casino) a few days before that and was actually afraid that I wouldn't get paid because I didn't know much about them and had never requested a withdrawal before, but sent in my docs and was paid very quickly.
     
    2 people like this.
  32. Jun 17, 2008
  33. SlotKing

    SlotKing Experienced Member PABnonaccred

    Occupation:
    Building the Best Vehicles On Earth... Ford Escape
    Location:
    Kentucky, ya'll...
    I know of a few MG casinos where they will actually fly you out to the casino's operations to celebrate, etc.. but in order to collect on the JP you MUST be able to go over there and essentially be available for them to do whatever they want with their publicity dept (read the T&C's... it's there).... this means passports, visas, customs declarations (since you are bringing back more than $10,000 of goods you would be required to declare it, assuming you didn't have a bank wire done), etc....

    Just be ready to be publicized like you have never dreamed before... lol.... THEN start screaming... lol :D

    Kris
     
  34. Jun 19, 2008
  35. w8n4win

    w8n4win Full Member

    Occupation:
    Merchandiser
    Location:
    Right Here
    :lolup: I bet! I would never have thought to call the casino, I'll have to remember that, you know, just in case!
     
  36. Jun 19, 2008
  37. zebedy

    zebedy No!!!! Im Spartacus MM webmeister

    Occupation:
    brain stergeon
    Location:
    Up a Tree
    wtg AuntieIdiot thats a nice shot,






    i know what would happen if i won a few million on a progresive slot,

    id get run over by a bus as i went to pick up the check:sob:
     
  38. Jun 19, 2008
  39. GGW Laurie

    GGW Laurie Dormant account webmeister

    Occupation:
    Self Employed
    Location:
    In the Beautiful South !!
    .........:lolup:lmao:D
     

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