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Players dream of hitting a big jackpot when they play the slots. When that day comes for you, you'll have questions about the taxes you must pay on the winnings.

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Hand Pay Jackpots

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When you hit the winning combination of symbols for a large jackpot, your slot machine locks up. Depending on the machine, the lights on top of the machine may come on and start flashing, music may play or bells ring. A slot attendant arrives promptly to see what you have won.

On jackpots smaller than $5,000, an attendant verifies that you hit the jackpot and then assists you in claiming your money at the cashier's cage. In the case of a large or progressive jackpot, the casino may have technicians come and check the machine to certify that it was functioning properly when the jackpot hit. If you hit one of the wide-area progressive machines such as MegaBucks, the slot company that operates the game comes out and verifies that machine before giving you a check.

When you hit a jackpot, you have the option of taking your winnings in cash or check. Usually, large amounts are paid by check. In the case of the MegaBucks or similar multi-million dollar jackpots, you receive a check for the partial amount, and then you have 90 days to decide if you want to be paid a lump sum or an annual annuity on the balance. If you select the lump sum option, you receive only a percentage of your actual winnings. For example, the full winnings of one multi-million slot jackpot is paid in 25 annual installments, or you can take a lump sum of 60 percent of the winnings.

IRS Withholding

All casino winnings are subject to federal taxes. However, the IRS only requires the casinos to report wins over $1,200 on slots and ​video poker machines or other games such as keno, lottery or horse racing. When you have a win equal to or greater than $1200, you are issued a W-2G form. This form lists your name, address and Social Security number. The casinos are not required to take out withholding tax on jackpots under $5,000 as long you supply your Social Security number. If you don’t provide your Social Security number, the casinos withhold 28 percent on small jackpots.

You can request a specific amount of withholding tax to be taken out of any jackpot you win. Some players like to do this to avoid a big tax payment in April when they file their income tax returns. The additional withholding may not be necessary if you keep a log book. The law allows you to deduct gambling losses up to the amount of your winnings. You can only do this if you have documentation of your losses. Keeping a diary or log book is the way to do this.

Proper Identification

Casinos can refuse to pay you until you produce proper identification—a photo ID such as a driver’s license, military ID or passport.

If you don’t produce an ID, you are photographed and the casino holds your winnings until you come back with proper ID. For this reason, you should always carry a valid form of identification with you when you visit the casino.

When the casino checks your identification, it also checks your age to make sure you are legally old enough to play. The minimum age for gambling varies from state to state, but under-age gamblers are not be paid if they hit a jackpot. This is the law in all jurisdictions, and it has been upheld in court.

Plan Ahead

Before you start playing your favorite slot machine you should have a plan for the day you hit a jackpot. Players become excited when they hit the big one, and this may affect the decisions you make about your winnings. It is helpful if you know ahead of time how much withholding you want taken out or whether you want a check for all or some of the amount.

For the purposes of organizing our detailed reviews of various slots games, we’ve organized this section of our site according to which companies design and manufacture which games. Slot machineproviders like IGT have been around for decades and serve both the land-based and online casino markets. Others, like Realtime Gaming, have been around for less than a decade and only serve theInternet market.

Clicking on the links to the providers’ pages will take you to the information page on that company. That page will include a list of the games that company provides. On this page, we providebrief overviews of each company, including a couple of examples of well-known games that each company produces.

We’ve done our best to make this section as comprehensive as possible, but there are literally thousands of slots games available. If we’ve left out a provider or a game that you feel is worthyof conclusion here, please use the information on our “contact us” page to let us know.

Ainsworth Game Technology is an Australian company that’s been in business for 20+ years. The company is named after its founder, Len Ainsworth. The company is publicly listed under the codeAGI on the Australian stock market. They have headquarters in Newington, Sydney, Australia. We offer detailed reviews of their most famous games, including Dragon Lines, Eaglebucks, and GrandDragon.

Amatic Industries is an international designer and manufacturer of slot machines games found in casinos all over the world. They’ve been in business since 1993. They offer more than just slots,though—they’re also one of the leading designers of electronic roulette games. The company has won multiple industry awards, including “Most Stylish Gaming Machine” at the Irish Gaming Show andthe Golden Dice Award at ICE. We offer comprehensive reviews of some of their best-love titles, including Admiral Nelson, Cool Diamonds, Eye of Ra, Lucky Coin and Wolf Moon.

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Amaya Gaming is best-known as the Internet juggernaut which bought PokerStars, making them the largest online poker provider in the world. It also catapulted them into the leading position oflargest publicly traded gambling company in the world. They do work in partnership with other companies—for example, their partnership with Aristocrat enables players to play some of the mostfamous Australian poker machines (pokies) online. Some of their more popular slot machine games include Casinomeister, Forrest Gump, Jenga, Superman, and The Flash.

Aristocrat Gaming Technology is another publicly traded company based out of Australia. (What can we say? Slot machines are really popular in that country, even if they call them “pokies”instead of “slots”.) The company was founded in 1953. They have licenses to operate in 240 different jurisdictions in 90 different countries throughout the world. Some of their better-knowngames include 50 Lions, Zorro, Sons of Anarchy, The Walking Dead, and Dumb and Dumber, among many others.

Ash Gaming has been in business since 2002 and focuses on providing specific games to specific clients, especially those in the sports betting industry who want to expand their offerings totheir player base. They also focus primarily on the Internet market. They don’t have the most extensive list of games in the industry, but some of their games are popular, including Alice inWonderland, Life of Brian, Nostradamus, and Who Wants to Be a Millionaire.

Bally Technologies is one of the oldest and best-known companies on this list. They’ve been in business since 1968, and they offer a huge range of games. If the name sounds familiar, it’sbecause the company is large enough to be involved in multiple aspects of the business. At one time, they were also popular providers of regular video games and pinball machines. They also havea casino in Las Vegas. They have a number of lucrative licensing deals, and they design and manufacture some of the following slot machines: Betty Boop, Double Dragon, Ducky Dynasty, Grease,Pawn Stars, Titanic, and ZZ Top.

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Barcrest Gaming is a UK company that’s been providing gambling machines to businesses since 1968. They were acquired by IGT in the late 1990s but were then sold to Scientific Games in 2011.Both IGT and Scientific Games saw the wisdom in letting the brand continue under its own name, which it still does. You’ll find pages on our site providing complete game details for thefollowing games: Crown Gems, Rainbow Riches, Thai Flower, and Wipeout.

Betsoft Gaming is famous for their innovative and impressive 3D gaming products available on the Internet. We try to be as objective as possible when writing about any company on this site.Spend some time here, and you’ll see that we rarely “toot a company’s horn”, as it were. But the games from this provider are so much more impressive than anything else on the market that it’shard to not brag on them at least a little bit. They focus more on Internet gaming than land-based casino games. Some of the games from Betsoft Gaming that we especially enjoy include: AfterNight Falls, A Night in Paris, Dr. Jekyll and Mr. Hyde, Good Girl Bad Girl, and Greedy Goblins. You’ll find more of their games listed on our page devoted exclusively to their company.

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Blueprint Gaming is a provider of gaming machines to the UK market, but they’re actually owned by a German company, the Gauselmann Group. They focus on creating games for Internet and mobilegamblers. They have multiple unusual licenses, including slots with the following themes: Austin Powers, Bejeweled, Chuzzle, Peggle, Plants vs Zombies, and Zuma. You can read about any of thoseindividual games here on our site, as well as find more details about Blueprint Gaming on their corporate profile page here.