{"id":79096,"date":"2018-05-29T10:30:24","date_gmt":"2018-05-29T17:30:24","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=79096"},"modified":"2018-05-29T15:41:32","modified_gmt":"2018-05-29T22:41:32","slug":"wheel-of-fortune-slot-player-wins-1-3m-jackpot-at-cosmopolitan","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/wheel-of-fortune-slot-player-wins-1-3m-jackpot-at-cosmopolitan\/","title":{"rendered":"Wheel of Fortune Slots Player at Cosmopolitan Las Vegas Wins $1.3M Jackpot"},"content":{"rendered":"<p class=\"p1\">A progressive Wheel of Fortune slot machine jackpot was hit on Saturday at the Cosmopolitan of Las Vegas casino resort that paid a fortunate gambler $1,322,750.87.<\/p>\n<figure id=\"attachment_79100\" aria-describedby=\"caption-attachment-79100\" data-style=\"width: 1200px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-79100\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/05\/26fbf967-216d-4659-9273-9970dd852a23-large16x9_WheelofFortuneJackpotWinner_52618_TheCosmopolitanofLasVegas-1.jpg\" alt=\"Wheel of Fortune slot jackpot Cosmopolitan\" width=\"1200\" height=\"843\" srcset=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/05\/26fbf967-216d-4659-9273-9970dd852a23-large16x9_WheelofFortuneJackpotWinner_52618_TheCosmopolitanofLasVegas-1.jpg 1200w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/05\/26fbf967-216d-4659-9273-9970dd852a23-large16x9_WheelofFortuneJackpotWinner_52618_TheCosmopolitanofLasVegas-1-142x100.jpg 142w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/05\/26fbf967-216d-4659-9273-9970dd852a23-large16x9_WheelofFortuneJackpotWinner_52618_TheCosmopolitanofLasVegas-1-1024x719.jpg 1024w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/05\/26fbf967-216d-4659-9273-9970dd852a23-large16x9_WheelofFortuneJackpotWinner_52618_TheCosmopolitanofLasVegas-1-768x540.jpg 768w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/05\/26fbf967-216d-4659-9273-9970dd852a23-large16x9_WheelofFortuneJackpotWinner_52618_TheCosmopolitanofLasVegas-1-157x110.jpg 157w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2018\/05\/26fbf967-216d-4659-9273-9970dd852a23-large16x9_WheelofFortuneJackpotWinner_52618_TheCosmopolitanofLasVegas-1-427x300.jpg 427w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><figcaption  id=\"caption-attachment-79100\"class=\"text-description\">One fortunate Canadian is leaving Las Vegas $1 million wealthier after hitting a Wheel of Fortune slot jackpot. (Image: Cosmopolitan of Las Vegas)<\/figcaption><\/figure>\n<p class=\"p1\">According to the Strip casino, a man visiting Las Vegas for a birthday and bachelor party with his two brothers won the progressive jackpot roughly 30 minutes after sitting down at the slot machine. The three brothers are reportedly Canadian citizens, which might complicate just how much of that $1.3 million will actually go home with them.<\/p>\n<blockquote class=\"main-blockquote\">\n<p class=\"p1\">&#8220;He knows how to celebrate Memorial Day Weekend right \u2013 congrats,&#8221; the casino resort said in a tweet.<\/p>\n<\/blockquote>\n<p class=\"p1\">Wheel of Fortune is a licensed slot machine manufactured by IGT. The Cosmopolitan nor IGT confirmed how much the lucky man had bet on the progressive.<\/p>\n<h2 class=\"p1\"><b>Casino Taxes<\/b><\/h2>\n<p class=\"p1\">According to <i>TurboTax<\/i>, gambling winnings, unlike income taxes, are not progressive. That means it doesn&#8217;t matter if you win $10,000 or $1 million, the federal rate remains the same flat 24 percent. That&#8217;s a one percent decrease from the previous 25 percent tax rate, which changed for the 2018 tax year.<\/p>\n<p class=\"p1\">Casinos are required to withhold 24 percent for the Internal Revenue Service (IRS) on winnings totaling:<\/p>\n<ul>\n<li class=\"p1\">$600 or more at a horse racetrack (if that is 300 times your bet)<\/li>\n<li class=\"p1\">$1,200 or more on a slot machine or bingo game<\/li>\n<li class=\"p1\">$1,500 or more in keno winnings<\/li>\n<li class=\"p1\">$5,000 or more in poker tournament earnings<\/li>\n<\/ul>\n<p class=\"p1\">Under federal law, the Cosmopolitan kept $317,460.20 of the Wheel of Fortune jackpot for the IRS, and issued the player a check for $1,005,290.67.<\/p>\n<p class=\"p1\">The one percent tax change for 2018 means the Canadian went home with an extra $13,227 than he would have, had he won in 2017.<\/p>\n<div class=\"callout\">\n<p class=\"p1\">In addition to the $1 million check, the casino also furnished the patron with a W2-G form with declarations of his gambling winnings. The document is used come tax filing to show the IRS that you&#8217;ve already paid taxes on the winnings.<\/p>\n<\/div>\n<p class=\"p1\">The feds will keep their $317,000 grab on the win, but the unnamed Canadian might be able to reduce his tax liability when he&#8217;s back home via a credit on paid foreign taxes on income received outside of Canada.<\/p>\n<h2 class=\"p1\"><b>Jackpot Records<\/b><\/h2>\n<p class=\"p1\">It was only last December that a Wheel of Fortune slot machine at the <a href=\"https:\/\/www.casino.org\/news\/seven-years-in-cosmopolitan-las-vegas-ready-for-100-million-overhaul\">Cosmopolitan of Las Vegas<\/a> paid out a large jackpot. Celebrating his 21st birthday with his first trip to Sin City, Aidan Gilbert of Arizona won $426,840 on the progressive just minutes after arriving in town.<\/p>\n<p class=\"p1\">In December 2012, a Cosmopolitan Wheel of Fortune machine hit a $1.359 million jackpot on a $1 wager.<\/p>\n<p class=\"p1\"><strong>While a million bucks is life changing for most, the jackpots are still relatively low compared to the richest hits in Las Vegas history. Last August, a California man won $11.8 million on a $3 bet while gambling at downtown&#8217;s Fremont Hotel and Casino.<\/strong><\/p>\n<p class=\"p1\">Las Vegas&#8217; <a href=\"https:\/\/www.casino.org\/news\/43m-slots-jackpot-malfunction-lawsuit-challenges-casino-refusal-to-pay\">biggest jackpot in city history<\/a> has stood now for over 15 years (it&#8217;s also the largest in US casino history). In 2003, a 25-year-old software engineer bet $100 on a Megabucks slot machine at the Excalibur that hit the jackpot on one in 16.7 million odds. The payout was $39,710,826.36.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A progressive Wheel of Fortune slot machine jackpot was hit on Saturday at the Cosmopolitan of Las Vegas casino resort that paid a fortunate gambler $1,322,750.87. According to the Strip casino, a man visiting Las Vegas for a birthday and bachelor party with his two brothers won the progressive jackpot roughly 30 minutes after sitting [&hellip;]<\/p>\n","protected":false},"author":25,"featured_media":79100,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,18],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Wheel of Fortune Slot Player Wins $1.3M Jackpot at Cosmopolitan LV<\/title>\n<meta name=\"description\" content=\"A Wheel of Fortune slot machine at the Cosmopolitan of Las Vegas casino paid a $1.3 million jackpot to a fortunate gambler visiting from Canada.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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Devin's passion for politics and background in the world of pop culture television gives him insight into the gaming industry backstories that often drive news these days. After graduating from Penn State University with a theater arts degree, he worked at MTV Networks\/Viacom from 2005 to 2010 as a writer and producer. His credits included Total Request Live, New Year's Eve specials, and a special featuring poker superstar Daniel Negreanu. He later moved on to the HGTV\/DIY Network, where he created, wrote, and produced three series specials: That's So House Hunters, That's So 80s, and That's So 90s. Devin came on board with Casino.org in 2014. He lives in Pennsylvania and is an avid marathoner, having completed 15 races. 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