My sister in law and her husband just got back from Vegas. Her husband won a handpay on a $2 Double Gold slot machine. He wouldn't tell us the amount of his handpay and for the life of me I can't figure out why. But according to his pic he sent us I figured he won about $1600.
He won it toward the end of their trip. He also mentioned that he "only" lost half of his bankroll this trip and that he can live with that. "Only" half....?! Gee, if he didn't win that handpay he would have been up sh*t creek.
Another thing I noticed about the changes in Vegas is how the slot machines operate nowadays. Like CMO mentioned there are more bonuses now when you play machines.
However, I've experienced earning bonuses after putting in several hundys only to win a paltry 38 bucks or so. But the way the machine shows all the bells and whistles and visuals you'd think you won the mega-bucks, LOL!
i've kind of stayed away from the video slot machines. Some of the penny machines actually cost $3-$5 per spin if you cover all the combinations which you normally have to play in order to win the bonuses. So, when you hit a low-end win on the penny slots, you often wind up winning less than your bet amount.
Having said that, my daughter's first trip to Vegas showed me you don't need to know what you're doing on video slots. She put $100 in her first machine ever, and she cashed out with over $2,000! She came over to where I was, showed me the ticket and asked, "Is this real money?"

That was at the Hard Rock casino where we'd just eaten lunch at the Pink Taco. I played some BJ, cashed out ahead and was starting to look for her. I gave her $500 to play as a birthday gift (Happy 21!). The next day at the Golden Nugget, she played that same machine (has howling wolves on the tiles), and won another $600.
I'd like to say all her gaming went as well, but she wound up spending some of it on "tuition" learning how to play the table games.
The hand-pay thing wasn't as prominent then as it is now. The casinos used to only collect tax info if you cashed out $10K or more. Now from my reading, you have to fill out that info for wins over much lower thresholds the IRS decided:
Report gambling winnings on Form W-2G if:
The winnings (not reduced by the wager) are $1,200 or more from a bingo game or slot machine;
The winnings (reduced by the wager) are $1,500 or more from a keno game;
The winnings (reduced by the wager or buy-in) are more than $5,000 from a poker tournament;
The winnings (except winnings from bingo, slot machines, keno, and poker tournaments) reduced, at the option of the payer, by the wager are:
$600 or more, and
At least 300 times the amount of the wager; or
The winnings are subject to federal income tax withholding (either regular gambling withholding or backup withholding).
https://www.irs.gov/instructions/iw2g#idm140175815431712I've cashed out at BJ for between $1,600 and $2,000. If I flat bet $25 every hand, that's $7,500 I can cash out without triggering an IRS form. if i played $100 hands, the tax forms would apply after cashing out with at least $30,000. The threshold changes as it's a multiple of your bet.
Looking at the IRS site, the
300 times your bet amount rule should apply to craps, baccarat, roulette, Heads-up Texas Hold'em, and other table games. Bingo, slots, keno and poker tournaments have their own rules.
The withholding requirement can get complicated. In short, "Regular gambling withholding doesn't apply to winnings from bingo, keno, or slot machines, nor does it apply to winnings from other wagering transactions if the winnings are $5,000 or less."