Las Vegas Comes under Fire from Lawmakers

With the recent ruling by legislators that requires 25% of all winnings be withheld from winnings that total any amount over $5,000, it would seem that many higher-level poker and casino players have very little desire to participate in the high-level games anymore.  Considering that it is easier to win two $2500 jackpot and it is to win a $5000 jackpot anyway, it seems obvious that players might shy away from any type of activity that requires them to shell out a full 25% of their winnings for the government to take advantage of.  Considering the lucrative odds in Las Vegas and the amount of losses that are incurred on a regular basis, many gamers claim that the 25% tax is highly unfair due to the fact that the money is basically earned and not won, considering the amount of investment that is required before the player actually begins to win.  It is difficult to argue with that logic, as the government rarely gives tax credit for the amount that the player loses in the poker room and casino, but has no problem with assigning taxes to the profits that are earned in these types of establishments.  With this double standard, many gamblers and gamers feel that they are being poorly taken advantage of and that this type of taxation is somewhat unfair as there is no reciprocity involved.

As Las Vegas establishment proprietors begin to wonder what type of future they might actually have in the long run, the government has created a whole new generation of players who are less than pleased with the type of legislation coming from their world leaders and elected politicians in Washington.  With all of the attention by lawmakers, it is certainly far more difficult for the world-famous Las Vegas hotels and casinos to continue to generate income with the reluctance of players to participate in the higher level and high limit games.  Considering that every time the player wins $5,000 or more they are required to give up 25% on the spot, it isn’t hard to see that many players will be less than enthusiastic about this type of arrangement.  It is very likely that in the future, the amount of players willing to participate in these higher level and far more lucrative competitions will continue to dwindle. 

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