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Winning big in Las Vegas is an important part of the allure when it comes to real money gambling in the casino capital of the world. When someone hits it big playing a progressive slot machine with a million-dollar jackpot, it is going to catch bettor’s attention all across the real money casino industry. SCROLL DOWN FOR MORE
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According to a report posted on PlaySlots4RealMoney.com, a Canadian man celebrating his birthday as part of a bachelor party weekend is the latest million-dollar winner at a Vegas casino. The Cosmopolitan of Las Vegas was the site of a $1.3 million jackpot hit on the progressive slot machine Wheel of Fortune on Saturday night. The actual payout registered on the machine was $1,322,750.87 as illustrated in a picture on the PlaySlots4RealMoney.com website which also included the unidentified winner standing next to the slot machine.
The Las Vegas Strip casino stated that the man was in town with his two brothers as part of the Memorial Day weekend celebration. He won the progressive jackpot after 30 minutes of play. That fact that he is from Canadian caused some major tax implications both in the US and north of the border. According to Turbo Tax all gambling winnings are taxed at the same flat of 24 percent rate regardless of the amount won. The good news for the winner that he did save $13,227 in US Federal tax since that rate was reduced from 25 percent as part of the new tax rates for 2018. The amount of this jackpot withheld by the Cosmopolitan for the IRS was $317,460.20. The check issued to the winner was $1,005,290.67.
