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Casino winnings, especially from jackpots or major tournaments, can be substantial. Winners are generally provided with two primary options for large payouts: a lump sum or annuity payments. Learn more about your casino payout options and their tax considerations to make a well-informed payout decision.

Casino Payouts: Annuity Payments for Casino Winnings

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When you win a substantial amount, a casino employee, often called a "slot attendant," will come to verify the win and process the payout. They may ask for your identification and information to ensure the jackpot is legitimate. In most cases, the casino will pay out the ja.

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