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Vegas Ignorant Questions....

Discussion in 'General Vegas Talk' started by Hugo Hackenbush, Jul 27, 2016.

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  1. Hugo Hackenbush

    Hugo Hackenbush
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    I'm not sure if this type of thread is allowed.....

    None of us knows everything in life, and this goes for Vegas information too... Many, many of us (me included) may have questions about Vegas that we are embarrassed to ask for fear of seeming ignorant in some way. We may feel intimidated in some way to ask...
    Well, maybe we can ask these questions here and people with the knowledge of a particular concern can educate us....

    We are all ignorant of some things until we learn about them, Right?

    My question..........
    I've read somewhere that buying in or cashing out high amounts of money (not sure how high) is frowned upon by various agencies...
    If I buy in at a table game and win, can I color up and use those same chips later that day or the next day as to not involve cash??
    Thanks for your answers and I hope others with questions will ask and not feel funny about asking...

    What are your questions?
     
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  2. VEGASBJ

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    Yes, you can color up chips and hang on to them for later use. I frequently do not cash in any chips until the end of my trip. I may end a night of gambling up $10k, go to the room and put those in the safe, and then get a new marker the next day. At the end of the trip I will pay back markers with the chips I have accumulated throughout the trip.
     
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  3. VEGASBJ

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    Also, never be embarrassed to ask any Vegas related question here - that is the purpose of a message board - to share information, ideas, likes, dislikes, etc
     
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  4. VEGASBJ

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    If you buy in for more than $10k cash at a table game or poker table, a form will have to be filled out. They frown upon this at the tables as it slows the game down. if you want to buy in with a large amount of cash, go to the cage first and change them into chips there before you go to the tables.
     
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  5. shifter

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    Using chips as much as possible is the best way to stay off the radar.

    I never cash in large chips (5k, 25k) until absolutely necessary. always prefer to pay off markers using chips from another casino when possible. As long as you keep the winnings in chips nobody knows anything.

    And that "nobody" also includes the significant other which pretty much every player knows is important.
     
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  6. bigalbr

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    I believe what you're talking about is a CTR(currency transaction report).

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    Unless you're actively using the casino to launder money or seriously ripping off the IRS, you're not going to have issues with casino generated CTRs or structuring. Cashing in big sums of money is normal.
     
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  7. 44inarow

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    "Frowned upon" is not the word. Basically, cash transactions of $10k or more have to get reported to FinCEN, as an anti-money-laundering measure. FinCEN is theoretically walled off from IRS, though if you're involved in other tax-related shenanigans, it's possible for the two agencies to share information. It's fine to try to stay off the radar, but I wouldn't be too worried about it.

    What really gets you into trouble is something called "structuring", which basically boils down to anything where you're making an effort to avoid the $10k threshold. Keeping your chips from day to day, and just doing one cash-out at the end is fine. Cashing out $9900 of chips at a time will land you in jail.
     
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  8. Tibs

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    Yeah the 40K buy in at craps table in Mirage a few weeks back was fucking annoying as shit. Never mind the cage is spitting distance from the table. I really wish they would have told him to go get chips at the cage. He was a nice guy and all and they knew him, but still was annoying as shit.
     
  9. gmille58

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    Do you use chips from another set of properties, or within the same company. I would imagine if you were not a known big player and had $5k or larger chips from a competitive property it would at minimum require them to check to verify something.

    I also giggled at the thought of your spouse checking for CTR's to see how much you won and hid from her. Brilliant.
     
  10. shifter

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    They always call to verify. No big deal though.
     
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