Dear Mark: Per your advice, I’m learning blackjack on a video machine at 25 cents a hand versus live play at $5 a hand. I was wondering if I am allowed to use a blackjack strategy card in the casino while I play? Does it matter how many coins I put in? Any other advice would be appreciated. Paul G.

One of the primary reasons for blackjack’s immense popularity is that when played with skill, it offers the best odds of all casino games. Blackjack also offers two sweet little bonuses. You are paid an extra half of your bet on natural blackjacks—no skill or monetary risk involved—and you get to put more money down on favorable doubles and splits. As long as you select the correct video blackjack machine, these rules still apply even against a cybernetic one-armed bandit.

As for using a blackjack strategy card, yep, it’s absolutely allowed, and a must for newbies learning the game. As in the table game, the idea behind using basic strategy is to reduce the casino's advantage, and by using a blackjack strategy card you can whittle the house edge down to less than 1%.

So long as you play an even money amount (see below why that’s important), it doesn’t matter how many coins you insert. Like the video poker machines, video blackjack machines use a random number generator (RNG) software algorithm to determine the game’s outcome. The number of coins played cannot influence the end result.

Never play a machine that offers even money for a blackjack. Also remember: machines that do pay 3 to 2 typically do so only when an even amount of money has been wagered. Don’t short-change yourself on the correct payoff by betting an odd amount.

Just as you would in a live blackjack game, make sure that you get rated for your play. Always use your Player’s Card when playing video blackjack.

It is the splits, double downs, and blackjacks that jiggle your blackjack play from the red into the black. Do not shortchange yourself in these situations. When your strategy card says to double or split, do it.

Make sure to read the posted rules, so that you can quickly determine the house edge on your selected machine. For example, I used to play on a machine that allowed early surrender with liberal doubling down rules. Surprisingly, with the use of perfect basic strategy, the house had no advantage on my play on this particular machine. Toss in the cash-back when I used my Player’s Card, and the owners were actually paying me to sit in front of their machines.

by Mark Pilarski

Dear Mark: Do you have any blackjack money management tips on how to discipline myself on holding on to winnings? It seems all the money I win ends up back in the dealer’s tray. Hardy K.

Teaching people to walk away with some vestige of their winnings can be an exercise in futility. Excuse me while I sigh and roll my eyes. A writer for the Journal of Experimental Psychology I am not. But I can offer you a money management tip that, if you make – no, if you KEEP -- the pledge to stick with it, will work wonders in your ability to leave with a profit.

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by Mark Pilarski

Don’t try to go blotto on me and forget to attach those W2-G’s along with your occupation’s W-2 form(s) because any single-win amount in gambling over $1,200, is required to be reported to the IRS by the casino. Luckily, you can offset the taxes on your win(s) by reporting your losses if you keep flawless records.

Gambling losses, so long as you itemize rather than take the standard deduction on your tax return, can be used only to counterbalance gambling wins during that same tax period. So even though your overall losses for the year are $4,700, to date, you can deduct only $2,700 of your total losses in the Other Miscellaneous Deductions section on your Schedule A.

Dear Mark: I very much enjoyed column last week, The Taxman Cometh. It was very informative, especially for us lucky souls who have in the past hit a decent sized jackpot. I do though have one tax related question you didn’t address. I recently hit a jackpot of $10,000 at an Indian casino. I was issued a W2-G. Do I have to include this as money won, even though I hit the jackpot on an Indian reservation, which is technically sovereign land? Kenny J.

Tribal sovereignty refers to the inherent authority of Native American Nations to govern themselves and exercise limited jurisdiction within and sometimes beyond reservation boundaries. However, because most Indian land is held in trust by the United States, Federal laws generally still apply, including Uncle Sam’s taking a chunk of your winnings.

If you received a copy of form W2-G or a 1099, so did the IRS, and you’re on the hook for it. Besides, it really doesn't matter where you won the money. Unless specifically exempt by treaty or law, your tax liability is based on total worldwide income, which, yep, Kenny, includes Indian reservations.