Many casinos use the $3000 limit by default. One reason is that many kiosks have a $3000 redemption limit per ticket.
You are correct that it is a game option on almost every game that the casino can set at any limits they choose. It is not structuring unless the patron is specifially trying to avoid the reporting when they cash in the tickets.
As an FYI, slot machine jackpots are not aggregated and are not counted towards the $10,000 CTR limits.
This happened to someone I know also,and it was for a similar small amount.
I believe it was at the bird standing on one leg place.
Hmm...I think the IRS would disagree with you that slot ticket cashouts don't count toward the $10k limit. My point was that this is a form of forced structuring, basically because casinos don't want to deal with the paperwork.
I am currently going though an AML/BSA with a property.. So far so good.
WELL, TO ME it looks SIMILAR TO a roulette wheel complete with 36 numbers and one or two zeroes, they each spot must have an equal chance of coming up.
I had a $30k TITO once. That was fun.
I was referring to this statement:Quote: BobDancer
Maybe we differ on what "similar" means, but I don't think this wheel looks similar to a roulette wheel at all.
Or if it looked like a roulette wheel complete with 36 numbers and one or two zeroes, they each spot must have an equal chance of coming up.