Cashing Out Large Wins - Las Vegas

Discussion in 'Bankroll Management' started by dicedoc, Feb 16, 2021.

  1. dicedoc, Feb 16, 2021

    dicedoc

    dicedoc Member

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    I don't know much on this subject. I think for the most part table game winnings aren't audited but is there a certain amount like 2k, 3k, 4k, or whatever if I win and cash out a larger amount the casino cage is going to ask for my personal info to report the win for tax purposes?
     
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  2. DeMango, Feb 17, 2021

    DeMango

    DeMango Member

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    Certainly keep it under $10K!
     
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  3. dicedoc, Feb 17, 2021

    dicedoc

    dicedoc Member

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    Thanks DeMango. I've asked that question a few times at the casinos and nobody would ever give me an answer or opinion on it.
     
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  4. Mssthis1, Feb 17, 2021

    Mssthis1

    Mssthis1 Member

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    It depends. If you don't have a players card, $2500 is the number most casinos use to require that you give them your personal information. That doesn't mean it will be turned into the government. The number where they have to turn it in is $10K.

    If you go to the same place on a regular basis without a players card or providing ID, the $ amount threshold will go way down. The casinos are then required to file a suspicious activity report. The law changed somewhere around 2016. I can't remember the exact date.
     
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  5. TDVegas, Feb 17, 2021

    TDVegas

    TDVegas Member

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    My guess is it depends on casino, depends on policy, depends on shift manager, depends on a whim...bottom line is if they want to know who you are, regardless of amount won, they will get that info.

    Cash out enough times at $2,499, $2,399, etc....they’ll ask.
     
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  6. DeMango, Feb 17, 2021

    DeMango

    DeMango Member

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    A lot of AP's stash high denomination chips in safe places and use for subsequent buy ins.
     
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  7. TDVegas, Feb 17, 2021

    TDVegas

    TDVegas Member

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    My guess is that if the intent of those actions is to hide who you are or what you do or how much you’ve won....the casino is going to figure it out pretty fast and take whatever action they deem warranted.
     
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  8. DeMango, Feb 17, 2021

    DeMango

    DeMango Member

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    How so? They already paid you. You can move chips from one table to the next. Or take them to room or home and come back next day, next week, month, no problem.
     
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  9. TDVegas, Feb 17, 2021

    TDVegas

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    They may have paid you but if the intent in not cashing out at the cage with certain amounts because you are an AP (effectively beating them) and don’t want to fork over ID (say with above $2,500 threshold)....my suggestion is at some point they will want to know who you are and take whatever action they deem necessary to identify you or possibly deny cashing out.

    My bottom line is that a true AP (and I really only think card counters would fall under this situation)...if the casino wants to know who you are and it’s important to them...they will find out.
     
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  10. Liman

    Liman Member

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    IM more nervous about taking gambling money onto an aircraft on my way to vega

    If IM lucky enough to have large wins, Ill cash in chips over a 24 or 36 hour period if I have time.

    don't need the criminals who watch the casino cages seeing too many chips being cashed in at once.
    its easier for a criminal to watch cage from a slot machine to see who has a large amount of cash given to them....cant watch every table.
     
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  11. TDVegas, Feb 17, 2021

    TDVegas

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    It’s a good policy on bigger wins. Same as the sports book. The sports book registers flash your ticket win amount for you and the 5 people waiting behind you.
     
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  12. Night Attack, Feb 17, 2021

    Night Attack

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    With the amount of times dealers and pit bosses count and record large denomination chips they have on hand, I'm guessing the casinos know exactly how many large denomination chips are 'in transit' at any given time.
     
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  13. DeMango, Feb 17, 2021

    DeMango

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    Well they know what went out, they don't care where it ends up. Until everything gets RFID'ed
     
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  14. bonetek, Feb 18, 2021

    bonetek

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    So I color into a craps game for $800. I'm lucky and leave the table with a
    total of $2600 in chips and present them to the cage-person for redemption...

    Can they retain my chips until I fork over my ID and any other information they want?

    When the amount is less than 10K, can I demand my chips be returned to me and
    walk away? Wouldn't someone have already caused a legal case/precedent around
    this area if the cage can refuse to give back one's chips?
     
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  15. von duck, Feb 18, 2021

    von duck

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    :D Are you kidding? They couldn't even figure out Phil Ivey's scheme, until two of them lost 10 million each. :) Total incompetence, total. :cool:
     
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  16. Mssthis1, Feb 18, 2021

    Mssthis1

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    Probably not. What they will most likely do is buy some time while slowly paying you and let casino security and or the Sheriff's department handle getting your ID and then trespassing you.

    Like it or not they're following federal law and their casino license is at stake if they don't. Best thing to do is to be cooperative and not go over the 10K threshold enough times to draw the attention of the federal government.

    You could consult Superrick but he is probably still sticking to his story that he got trespassed because he was too good. Lol.
     
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  17. Liman

    Liman Member

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    whats 2500 hundred? that's nothing today. I played with guys here that buy in for more than that.....casino cages in high end casinos would lose gamblers if everytime someone came over with 6 or 7 grand in chips they asked for ID......its small little dip shit casinos that do that shit.....I don't recall the casino name now, In Henderson....along boulder highway.....I went there they had a 3 dollar table....I think I won, a little under 200 or 300.......when I went to cashier.....the cashier called Kevin, the Asian pit boss, that I remember....and said, 395, and I guess he said yes....maybe it was 295.....whatever, sorry I don't recall the casinos name......table opened at 10am, it was me and every other player was over 85. shit, Im losing it. got it Jokers wild casino my wife didnt care for their ;poor selection of slots
     
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  18. KokomoJoe4, Mar 4, 2021

    KokomoJoe4

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    I've had a good number of these (10 or 11) since starting record keeping in 2004, and have never been bothered by the casino.

    IF in excess of 10K, I would keep some chips in the pocket until next time.
     
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  19. Mssthis1, Mar 4, 2021

    Mssthis1

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    I haven't been bothered either but they always know who I am. That is the difference. I assume you use a players card.
     
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  20. lone irish digit, Mar 4, 2021

    lone irish digit

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    Hell no. I don't want Cadinos snooping on me and I have no desire for getting comps for losing monies to them mfers either.
     
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