Patent ID: 8210931

Claim:
A method comprising the steps of: registering the player into an account of an account-based wagering system of the electronic gaming system; computing a tax-efficient betting strategy for suggestion to a player at a mobile gaming device, the computed tax-efficient betting strategy being a betting strategy that attracts lower tax liability for the player, or increases a percentage of a pre-tax return that is realizable by the player after paying tax liability on pre-tax payout, in either case, relative to other possible betting strategies available to the player, the computed tax-efficient betting strategy being computed based on one or more of a gaming history of the player, an amount of taxes owed by the player, and the player's net gambling winning or loss position for the year, and a bet size of a prior bet, and displaying on a display of the mobile gaming device the computed tax-efficient betting strategy as a suggestion to the player for the player to exercise at the mobile gaming device, the display including a display to the player of a payout of a gaming wager, the payout displayed in at least two forms, including: gross payout before taxes based on outcome of the gaming wager, and net payout of the gaming wager after taxes; when the player's activity triggers winnings in the account through the electronic gaming system that are subject to tax-reportable status, inviting the player to provide tax withholding information; by computer of the electronic gaming system gathering and organizing data, the data gathered and organized being data regarding the player, the steps of registering and gathering together being effective to obtain the player's tax withholding residency classification and the player's tax identification number, the data being gathered and organized for preparation of a tax filing to report the winnings to a tax authority; if the player provides the tax withholding information, paying out the payout with a lower tax withholding rate applicable based on the provided tax withholding information; if the player declines to provide the tax withholding information, paying out the payout at a higher tax withholding rate applicable to players that decline to provide tax withholding information.