Best way to get your winnings home?

Quote: playpianoking

But I do have a question. Is there a problem with having cash show up on the x-ray machine? Lets say you have 10 grand in there... I mean is there a law about how much money you can bring through airports lol? In all honesty, ok so that brings attention and they ask you where did you get this money... You don't have to say anything right? If it's not illegal than it's not illegal. If you aren't legally required to answer that question, then...?

International travelers are required to declare any amount over $10,000 they bring with them, be it cash or by other means (such as checks, traveler checks, letters of credit, etc). I've never carried anywhere near that much. Sometimes the immigration agent will ask how much money I have with me, typically I answer "about $X and two credit cards."

However, most people don't travel with large amounts of cash on them or in their luggage. I've read about cases where the money's been impounded when the person carrying it couldn't prove where he got it from. Something about the money might be proceeds of a crime, usually drug related.

Then, too, there's always the chance of robbery. Security agents aside, other people can glimpse the screen at the machine. And security might be on to something illegal, too. You never know. When I carry more thana couple of hundred in cash, I'm extra careful and vigilant. Mostly I try no to give any indication I'm carrying anythign significant, but it also means not letting the cash show at all.

I normally bring about 1,000 to Vegas, so nothing too crazy. But what about really rich people that may want to gamble with 10k, which to them may be normal? I know if you are a real high roller you can get casino credit, but to some 10k isn't a big deal. I think some people would just keep it inside their coat pocket. Maybe most plan on cashing a check at the casino cage.

On a side note, you don't have to prove where you got your money from. That's like asking where did you get that nice Rolex watch from. Just keep your mouth shut and they have to let you go - it's not against the law.

High rollers do indeed usually have lines of credit. Absent that, they might bring a check or bank draft, but should be pre-approved. The casinos don't like to just cash either one to someone who doesn't play. For carrying large amounts of cash, there are cash belts and things you wear like a necklace that can hold $20,000 each. However, they probably just put the cash in a small bag.

The police have the right to seize property they suspect are connected to illegal drug sales/smuggling. The owner will have to fight to prove there is no connection to get it back. I know it sounds terribly un-American, but it is true. There was a piece on 60 Minutes about it. The example they used was a private pilot who was hired to give some guy a ride, who unknown to the pilot had drugs on him. The authorities somehow caught the passenger and seized the pilot's plane. The pilot had been fighting the courts for years to get it back, and at the time was still unsuccessful.

I personally know a guy who was pulled over for speeding, the police found cocaine in the car, along with a lot of legitimate cash from casino winnings. The police seized the cash, car and everything in it. He eventually got everything back, but it took several months, and had to wage a difficult fight. If the owner doesn't successfully get his money/items back, they become the property of the police, which they will auction off, motivating the police to make such seizures. I can't point to a specific incident, but many $100 bills have trace amounts of drugs on them, and I've heard that being used as a spurious excuse to seize legitimate money the police come across. Basically, the tenet of "innocent until proven guilty" applies to people, not things.

I would never have a problem carrying a signfican amount of cash on my person. In fact I pretty much always bring my entire bank for a gambling trip in cash. Ditto for leaving with winnings. $10-20k can easily be carried in jacket pockets. As long as it isn't obvious there is no more risk of being robbed than usual. Getting a receipt from the bank or casino as verification of the origin of the money is a good idea though.

International travellers are required to declare that they are carrying $10,000US or more both when they enter and when they leave the USA. If not, the funds can be seized by the border services people and will not be returned no matter what the source of funds was. The attempt of not declaring it is the reason for the forfeiture not the question of whether the source of funds was legal or illegal. In 2009 the Seattle regional office was responsible for seizing more than 4 million dollars.

Some online casinos, poker rooms, bookmakers credit back not only the deposits, but the winninngs, too to the bank card from where I deposited. But I never heard this in a live casino. Why don't pay back to the card the winning?

Though this doesn't solve the $10,000 issue--and I understand there is also some scrutiny of transactions "close" to that limit in certain businesses--it does make carrying the money a lot easier for me.

For our usual bankroll of 4k-6k, I don't want to touch the ATM machines. Fees eat whole bets pretty quick... I go to the credit union and get a cashier's check made out to the casino. I get it 3-5 days ahead of the trip. I fax a copy of it to the casino cashier. They verify it with the bank. When I arrive, I deposit it. I can then either withdraw money at the cage (rarely need to) or use a marker at the tables. I have also gotten a marker for slots; they aren't as efficient at the process as the tables in the casino we frequent.

If I have any large wins, I add them to the account at the cage rather that carry around a large amount of cash. If it is a mid-size amount (less than 2k), I just use it as my budget dictates for the next few sessions.

At the end of the trip, I get a check from the cashier and head home. No more cash on hand than needed.

I have done the same thing using traveler's checks as the deposit. It is just a hassle to sign all of them!!

This keeps me from using casino credit and also from carrying a large amount of cash.

That's fine, if you play at just one casino.

Otherwise, a good way is to have an account in a national bank that has a branch in both your home town and Las Vegas, e.g. Bank of America.

Do your transaction at the teller's cage.

Actually, it works okay for multiple casinos. I may take a 1k marker at the table and play a session with a $200 loss limit; then I take the $800 (or, if things go well, more!!) to the other casinos with me. I have never had any problem having enough cash to play multiple casinos. I suppose it could become an issue if the numbers were larger and I was having to carry around larger amounts of cash, but it works fine at my level of play and comfort.

A bank account would also work; there would just need to be branches available to use near the places I planned on playing. Also, ATM transactions are often free at the bank you have an account with. I find the cashier more convenient because it is in my home hotel and they are home 24/7!! I have also taken a few hundred out at the cage; it is not much harder than taking a marker.

I guess you could also put money on deposit in multiple casinos if you were playing larger numbers...and didn't want to use casino credit.

Also note that there are many banks, i.e. Charles Schwab and Ally, that offer free reimbursements at any ATM.

For deposits of cash, the new cash and check reading ATMs at places ike Chase and Bank of America work well.