As someone who needs to fly to Vegas I can't just stuff cash into my bag as airports love to seize that more than anything. But I don't like the idea of having to constantly be pulling money in and out of my bank account as I'm worried if I ever make serious money the IRS will get suspicious and audit me. How do you manage all that?
There is nothing illegal about carrying large amounts of cash on a plane. TSA agents are used to seeing it, especially on flights to Vegas.
If you aren't an Advantage Player, it isn't hard to get casino credit. Just sign a marker and they give you cash.
Depending on what you play, where, etc., even as an AP, you could still get a credit line or wire front money and be OK. Could even set it up at a casino you won't be playing at, just so you can get the cash into LV safely, then play a near break-even game (plus cash back, rooms, mail, etc.) like VP to justify the money to the casino, if ya wanted to.....then go play your CC game or whatever at other properties.
Quote: billryanIf you aren't an Advantage Player, it isn't hard to get casino credit. Just sign a marker and they give you cash.
They size you up as desirable, or not, in the credit department right off the bat?
I am pretty sure I am going to apply for casino credit. I have become interested in it as to how casinos manipulate it, and want to learn more about it first hand. The main reason I have been reluctant to do so is I don't want such a thing on my credit history, but I guess I will trust assurances it isn't that kind of thing at all.
As to the OP, I'd say applying for casino credit is the way to go. Just use it properly like other forms of credit.
Perhaps not TSA, but someone else at the airport? I'm not sure what program I was watching but some agency confiscated about 15k in cash at the airport because they didn't have a good reason for having the cash or why. There wasn't anything illegal like drugs or anything either,but It seemed kinda obvious the two guys were up to something with their stories.Quote: billryanThe TSA has no jurisdiction to seize cash. They are there to keep dangerous objects off of planes. At most, they can call the airport police who may ask you to explain where the cash came from and where it's going. Having a withdrawal slip can't hurt.
Professionals: As described by Bob Nersesian, it's very helpful to have W2's, casino invitations/offers, and bank withdraw slips to show you're a professional gambler. I'm sure one could even put the cash in Bob's book, along with some W2's and withdraw slips, and carry that through so when they ask to see it you had them the book + receipts/etc. I haven't really heard of stories of "prepared" players having money trouble. It's always the guys with $10k that try to "sneak" it in and have no documentation to back up their money. You have every right to have said money on you, so don't try to hide it. I mean, don't scream "I HAVE $10k!" but don't try to sneak it past them.
Quote: AxelWolfPerhaps not TSA, but someone else at the airport? I'm not sure what program I was watching but some agency confiscated about 15k in cash at the airport because they didn't have a good reason for having the cash or why. There wasn't anything illegal like drugs or anything either,but It seemed kinda obvious the two guys were up to something with their stories.
Yeah. While the TSA might not be able to do it themselves, all they have to do is just call over any law enforcement officer and they can take the cash. Recently a TSA agent was found to be a paid informant for the DEA and another guy just got $75K seized in Richmond on the word of TSA agents who thought it was illegal.
Quote: odiousgambitThey size you up as desirable, or not, in the credit department right off the bat?
I am pretty sure I am going to apply for casino credit. I have become interested in it as to how casinos manipulate it, and want to learn more about it first hand. The main reason I have been reluctant to do so is I don't want such a thing on my credit history, but I guess I will trust assurances it isn't that kind of thing at all.
As to the OP, I'd say applying for casino credit is the way to go. Just use it properly like other forms of credit.
Most casino credit is simply writing them a post dated check. The amount they extend is tied to your checking account levels. You agree that if not paid off in so many days, the marker will be presented as a check to your bank. I'm sure there are more sophisticated methods for high rollers but I used to have $3,000 credit in three separate casinos in AC. Never went more than $1500 myself.
I must say it's been over a decade since I took a marker so that info might be outdated.