Thursday, August 5, 2021

Chinook Winds slot machine player wins $1.5 million jackpot

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Chinook Winds Winner

An unidentified woman won a slot machine jackpot of more than $1.5 million early Saturday morning at Chinook Winds Casino Resort.

A photo shared with Lincoln City Homepage confirms a progressive slot machine jackpot win of $1,585,455.05 shortly after midnight at the casino, 1777 NW 44th St. in Lincoln City.

According to an eyewitness who wished to remain anonymous, a woman wagered the maximum $3 bet on a Monopoly slot machine and was immediately whisked away by security.

“Somebody’s life just got changed,” the bystander said. “Not mine, but, hopefully, they needed it.”

The image, whose metadata included a digital timestamp and location information verifying that the photo was authentic, shows a gray box with the wording:

Call Attendant

Jackpot Handpay

$1,585,455.05

Chinook Winds staff on duty at 1:30 a.m. said it was unable to comment on the win, stating, “We can neither confirm or deny.”

Chinook Winds Casino winner

According to tax calculations, the winner should take home nearly $850,000.

In Oregon, gambling wins under $600 are exempt from income tax. Since it is over that amount, the winner is looking at approximately $155,000 in state taxes.

They will have 25 percent of the jackpot automatically withheld by Chinook Winds to be given to the federal government. That would amount to $396,363.76 and doesn’t cover total taxes owed on the win.

Having joined the highest tax bracket, the winner must pay about 34.56 percent tax, so they will owe 9.56 percent or $151,569 to the feds.

The Federal Insurance Contribution Act (FICA) tax that funds Social Security and Medicare is another 2.74 percent, or $43,419.

The breakdown doesn’t take into consideration filing status or whether the person lives in another state or a number of other factors, but the individual(s) should pocket approximately $839,474 when Oregon and the IRS are done.

Tax Type Marginal Tax Rate Effective Tax Rate 2018 Taxes*
Federal 37.00% 34.56% $547,868
FICA 2.35% 2.74% $43,419
State 9.90% 9.76% $154,695
Total Income Taxes 47.05% $745,981
Income After Taxes $839,474
Retirement Contributions 0
Take-Home Pay $839,474

Source: SmartAsset

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Justin Wernerhttps://wernerhost.com/clients/
I'm publisher of Lincoln City Homepage. Also the web guy, photographer, cameraman, video editor, sportswriter, tech support, beat reporter, cat trainer and e-bike enthusiast.

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