We encounter a lot of players who get confused about a win loss statement and how to understand the data that’s presented on it. Often that confusion is linked with a statement such as “I didn’t spend X on slot machines” because of a misunderstanding of the data that is there.
So let’s take a look at a win loss statement and see how to read the elements that are there.
First of all, not all casinos provide all the data that we’re examining here. In the case of this example, we’re looking at a player’s data as captured from a screenshot from MGM, with permission to use from the player.
Let’s examine coin-in and coin-out. This is often what confuses players the most. Coin-in is the aggregate total of all your wagers for a given period of time. This is not the amount of money inserted into a machine. Regular slot players know that you can keep betting on the same amount of money for a long time when things are going well, and the casino will track each of those wagers.
Conversely, coin-out is the aggregate amount of money the machine has awarded you during your play. It’s not how much cash you took home with you, for the same reasons – many slot players will win and keep playing, and so on.
A third box may also add in any jackpots won, which are those reportable wins when you break the $1,200 handpay level winning on any single wager.
Table games will be broken out separately from slot machines, should you have also availed yourself of those.
And finally there will be a total amount won or lost. That will be a lot closer to what you actually ended up achieving playing at their casino (or casinos, as bigger chains will also roll up data from various properties).
Some properties will not give you access to all these columns. Many tribal gaming properties will only show a total won/lost without any backing data around it. Caesars will only show your slot and table game win/loss per property, without the complete coin-in and coin-out.
Another thing to be aware of: The odds are high it’s not 100 percent accurate, because if a machine failed to read a card, a player forgot to use a card, and so on, that data would be missing.
This is why win loss statements by themselves are not considered complete for any IRS audits, and players need to provide additional supporting information to prove your gambling wins and losses if ultimately audited.
But hopefully if you’re trying to understand how a win loss statement works, this will give you more information to work with!