Recently I’ve been lucky enough to find big plays and have been getting a lot of handpays (and been running very good in general) I have started requesting that taxes be withheld on my jackpots. The reason I’ve been doing this is because with the larger plays I get some big swings in my bankroll and I like the idea of not having a 20k to 30k tax bill at the end of the year.

I know that the big downside to doing this is not having access to the money and the Feds are holding my money interest free where I could otherwise invest it or put it in the bank and make a couple of points interest off of it until tax time. I am ok with this because again like the idea of not having a huge tax bill at the end of the year or at least having it offset substantially by the withholdings especially if I suddenly start running bad around tax time and my bankroll is depleted.

Was recently thinking though. Are there any other downsides to doing this? For example is it a hassle for the casinos to withhold taxes and will draw attention or could the casinos care less?

Any feedback is much appreciated.

Thank you