shadroch said:
Or you can just make shite up, as many here do. Sound pompous enough and authoritive enough and you too can be an expert.
lmao lol.
I have no "real-life" idea of course but I was wondering how, or not,
"9.5.5.3.3.2.2
Records to be Retained by Financial Institutions
Title 31 CFR 103.36
"...For each person that a casino knows who has bought in at, bet, or purchased chips, tokens, or plaques over $3,000, with one or more currency transactions in a single casino day, the record shall include the name, permanent address, SSN, or TIN of the person, and the currency amount and the casino license number of the casino employee preparing the record.
For each person that a casino knows has purchased or redeemed slot machine tokens of $3,000 or more, through one or more currency transactions in a single gaming day. The record shall include the name, permanent address, casino account number, SSN, or TIN of the person, the date, time, and currency amount involved, and the casino license number of the employee preparing the record. .."
might apply to some of you real-life guys.
I think it was some amendment to the original money-laundering act passed around July-Aug 2007.
I thought maybe Ken or Sonny or somebody may have brought this up a while back?
I just can't imagine i could no more walk up to a cage and cash $5K into chips any more than I could walk into a bank and ask for a cashier's check for $5K without ID.
Whatever, while one ratholes to perhaps merely evade the casino learning you are an advantage player, structuring cash-outs to evade stuff, giving rat-holed chips to friends to cash-out for you, one maybe also be committing federal money-laundering crimes.
If one, these days, walks up to a cage and cashes out $9K instantly, with no hassles, I can only imagine it's becasue they already know your name, address, and SS#.
Since I assume all you AP guys are honest tax-paying citizens, I guess it's a good thing the casino can't compare your reported earnings to the IRS to their own "win-loss" records lol.
Which, of course, also only makes me wonder how you real-life guys may or may not factor in paying taxes on winnings on their roll and how one goes about how that may effect risk to original roll lol.
Not expecting a public answer by anyone on that subject lol.
But I have wondered about, in theory of course lol, how an honest tax-paying AP guy might go about figuring either what to bet in the first place, assuming taxes, or, maybe, annually replenishing his roll by the tax amount etc. lol.
As if this cr*p wasn't tough enough lol.