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If I spend and use my Genting Points for redemption, will my Tier Points be deducted as well? No, your Tier Points will not be deducted as they have no monetary value and only determine your membership tier status. Tier Points are used to determine your membership tier status on an annual basis. Tier Points earned in a calendar year will be used to determine your membership status for the next calendar year. If you qualify for an upgrade, this change in status is reflected immediately in the same calendar year, and also applies for the next calendar year. Tier Points have no monetary value and cannot be used in lieu of cash.
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In most cases, gambling winnings in the U.S. are reported by a Form W-2G and are subject to a flat tax of 24%. The same rate applies to the fair market value of any non-cash prizes like holidays or automobiles. In addition, the Canadian legislation does not qualify online or land-based gambling as a business. Finally, it should be noted that while most states prohibit wagering on college games, the Canadians, who bet through overseas servers, do not have such limitations.
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Yes, any Genting Points balance in your account on May 1, 2017 will be carried forward and can be used to redeem for products and rewards. Tier Points enable us to better track and reward our members with premium benefits, perks, and exclusive privileges. No, Tier Points are earned resort-wide through gaming and non-gaming activities only. Tier Points can be earned resort-wide through gaming and non-gaming activities.
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