Montgomery Group Pull

Cost: $55 buy-in per seat ($50/seat + $5 funding fee)

Please bring exact change.

Sign-in and door prizes: Between 1:15 - 1:45 pm. Meet upstairs inside BB King's. There's seating upstairs. The hostess can show you how to get upstairs. But they may be too busy to assist you. Just go past the entry around and to the right. Follow along the wall to the back corner and go up the elevator to the second floor.

Start Time: Slot pull start at 2:00 pm

End Time: 3:30 pm

Pay Out Time: when all play is over

How it’s Run

We play on a slot machine at max bet, we will probably play the high limit machines at $6. Each player will take 8 spins if a $6 max bet.

For security and tax purposes a single SS card will be used to track play on a win/loss statement. More on that in a moment. But just so you know, any who wish to dispute this may talk me prior to the close of sign-in before we go on the floor to play.

Couples may choose to “share” a seat, dividing the set number of spins as they see fit. Individuals may choose to have multiple seats, doubling or even tripling their odds.

If a large enough jackpot is won and all participants agree, play may be halted at that point even if everyone has not had a chance to take their spins. All must agree otherwise we will continue to spin till all have had their equal chance to increase the winnings. If no jackpot is won, time allows, and the group wants (majority vote) after each player has had at least 1 round of play to hold the second round of spins, the number of spins will depend on the remaining credit balance on the machine.

All play will end by 3:30 pm so those who want to stay and/or play longer can or just mingle to chat with your newfound friends!

End of Game Payout: After each participant has spun, the remaining credits will be divided to the nearest dollar and paid out back to each player. The uneven remainder (if any) will be added to the group’s budget for buying supplies, door prizes, and goodies for the group and to cover administrative or hosting costs.

TAXES: If any single winning pull results in a credit payout exceeding $1,199 (USD) the casino will issue a hand payout and fill out a 1099-G form reporting the win to a single SS# to the IRS. To not wipe out one person’s share of the overall winnings, 20% of the hand payout amount - the group buy-in will be taken off the top of the community pot and given to the “winner of record” (the person accepting the IRS paperwork) to cover the additional income tax burden; i.e. taxes will be deducted prior to the group's final payout.

Example: If we have 10 players at $50 per seat ($500 group buy-in) and hit a jackpot of $4000, then 20% of $4,000 ($800) will be given separately to the person whose name appears on the paperwork to cover the income tax burden and all participants will evenly split the remaining $3,200 for $320 each. To put it simply, 20% is taken off the top and awarded to the tax-bearer. Most likely the casino will take out the taxes prior to receiving the winnings. The remainder is split among the participants.

Good fortune to all.