Casino Anti Money Laundering and Compliance
The VP games include 9/6 Jacks and 8/5 Bonus.
You can launder all the cash you want and no one will notice. Any dealt pair of Jacks or better will generate a W2G. And you'll even have a Caesars employee with a legal pad keeping track as a witness for later.
Who needs slots? LOL
Quote: unJonThis whole discussion does remind me of season two of the Ozarks though. Good show.
I will absolutely not watch a show that is in any way reminiscent of this thread. I must have questioned why I had to be born at least three times in the last two hours.
Quote: coachbellyWouldn't that require identification?
And a W2-G wouldn’t?
Quote: darkozevery high roller would be suspected of laundering and drug dealing
You're assuming that every high roller deposits cash.
Quote: Mission146I will absolutely not watch a show that is in any way reminiscent of this thread. I must have questioned why I had to be born at least three times in the last two hours.
It’s only like this thread in that it’s a show about a money launderer. And there’s a casino. It’s a good show.
Quote: Mission146And a W2-G wouldn’t?
That abiding is going really well. Here have a Sarsaparilla.
Quote: AlanMendelsonCaesars Palace has triple play $100/coin video poker machines. $1500 for each max bet. They're in the Palace Court high limit room. The bathroom, by the way, is open to the public. There's free soft drinks, water and cookies there.
The VP games include 9/6 Jacks and 8/5 Bonus.
You can launder all the cash you want and no one will notice. Any dealt pair of Jacks or better will generate a W2G. And you'll even have a Caesars employee with a legal pad keeping track as a witness for later.
Who needs slots? LOL
Can easily lose 10k without generating 150k in wins.
I’d have gone with a similar example, otherwise.
I didn’t even necessarily like the $125/hand, but mainly just answered that by saying you’d at least want a game with 10-FOR-1 pays.
Quote: Mission146And a W2-G wouldn’t?
We were discussing floor personnel actions initiated by a $10K cash deposit.
That would include a visit to the player at the machine, and a conversation about identification.
Quote: unJonIt’s only like this thread in that it’s a show about a money launderer. And there’s a casino. It’s a good show.
I don’t ever want to so much as wash clothes again after this thread. I’m pretty sure I never want to see money again, either.
Quote: unJonThat abiding is going really well. Here have a Sarsaparilla.
Sioux City is a good one. Much obliged.
Quote: coachbellyWe were discussing floor personnel actions initiated by a $10K cash deposit.
That would include a visit to the player at the machine, and a conversation about identification.
Why would a money launderer hide his identity from the casino? He or she needs to get W2Gs in his or her name?
Quote: coachbellyThe initial $10K cash deposit is suspicious.
What combination of roulette bets whose sum=$10K can you make that would guarantee a $20K payout?
Well, you can't cover more than sixty percent of the board these days (they have software to prevent it) or some such percentage so any winning spin would pay at least close to double your wager.
This conversation got perverted. A money launderer would make smaller bets because he would want to have a Confederate betting opposite him (so he really isn't gambling and reduces the game to zero variance).
At some point discussing what both Mission and I said about making $300 and $600 wagers you asked if any machines even go that high.
I pointed out they can go as high as $10,000. I didn't say that was the amount money launderers would play each spin.
But if you had the money to gamble high like that, every time there was a win, you would get paid a hefty W2G.
Newsflash:. Most money laundering is done by people who already have money and need to prove the overage. So questions about where the initial gambling money came from is moot
Quote: AlanMendelsonYou can launder all the cash you want and no one will notice...
a Caesars employee with a legal pad keeping track as a witness for later.
No one will notice, except the witnesses...
Quote: unJonThat abiding is going really well. Here have a Sarsaparilla.
Sioux City Sarsaparilla is a good one.
Quote: unJonWhy would a money launderer hide his identity from the casino? He or she needs to get W2Gs in his or her name?
I don't know why they would...they want to hide the fact that they possess illicit cash.
Quote: coachbellySioux City Sarsaparilla is a good one.
Beat you to it.
Quote: darkozWell, you can't cover more than sixty percent of the board these days (they have software to prevent it) or some such percentage so any winning spin would pay at least close to double your wager.
How could one player cover the board in any manner that would guarantee to pay close to double their wager?
Quote: Mission146Beat you to it.
Chill out, dude.
Quote: coachbellyHow could one player cover the board in any manner that would guarantee to pay close to double your wager?
That's why you would use someone playing opposite you.
Keep up, I know it's difficult.
Quote: 100xOdds
the bad beat jackpot is normally 5 figures, sometimes 6 figures.
if i hit that, i'm assuming since i provided ID for the 1099, i can get a check?
(i really dont want to be carrying 5figures in cash and be paranoid about people following me home)
A w2-G is for a gambling win. All promos, contests, and drawings are 1099.
Quote: coachbellyI don't know why they would...they want to hide the fact that they possess illicit cash.
The assumption that the casino gives one single, solitary, lonesome, isolated **** about where the money comes from is a curious one.
Sure, you probably couldn’t walk in and directly tell them it’s drug money, stolen money, whatever…but it’s not like they ask a whole hell of a lot of questions.
Hell, there was that former NFL player, Reggie Rucker:
https://www.cleveland.com/court-justice/2018/12/reggie-rucker-ex-cleveland-brown-who-stole-from-anti-violence-nonprofits-files-for-bankruptcy.html
https://www.google.com/amp/s/www.news5cleveland.com/sports/browns/former-browns-player-reggie-rucker-sentenced-to-21-months-in-prison%3f_amp=true
I mean, he literally TOLD the casino he was waiting to get money he was owed from the charity and wrote the casino checks on the charity’s account to pay off debts.
So vigilant.
The ATM withdrawals are excusable, of course, because how would the casino know it was from a charity account? Also, many casino ATMs are third-party.
Quote: coachbellyHow could one player cover the board in any manner that would guarantee to pay close to double their wager?
I have already described that for Roulette.
Quote: coachbellyChill out, dude.
Screw this, let’s go bowlin’.
Quote: Mission146Screw this, let’s go bowlin’.
I don’t roll on Shabbos.
Quote: unJonI don’t roll on Shabbos.
“Three Thousand years of beautiful tradition from Moses, to Sandy Koufax, you’re ******* right I’m living in the past!”
Quote: darkozKeep up, I know it's difficult.
First it's a single player, then it's two players, then it's back to a single player, and then there's a partner again.
You're assuming that a money-launderer has a confederate that would accept tax liability for him.
Who can keep up?
Quote: Mission146The assumption that the casino gives one single, solitary, lonesome, isolated **** about where the money comes from is a curious one.
There's no assumption that they care, beyond the level of care that's required of them.
It's been established that the casino is required to document cash transactions for the entity or agency that is concerned with such activity.
Quote: Mission146I have already described that for Roulette.
For a single player? How is that possible?
Quote: coachbellyFirst it's a single player, then it's two players, then it's back to a single player, and then there's a partner again.
You're assuming that a money-launderer has a confederate that would accept tax liability for him.
Who can keep up?
If you’re trying to prove any statements made are 100% wrong, you have failed and will continue to fail.
You could do it either way. The Roulette one I proposed, for example, could be solo.
Also, I assume that drug dealers frequently have partners, but I admit I could be wrong about that assumption…lest I be asked to seek out a drug dealer and present him or her to you to provide a first hand account.
Quote: coachbellyFor a single player? How is that possible?
Asked and answered.
Quote: Mission146Asked and answered.
When and where?
Give me a hint...is it in this thread?
Quote: coachbellyWhen and where?
Here and now.
Quote: coachbellyThere's no assumption that they care, beyond the level of care that's required of them.
It's been established that the casino is required to document cash transactions for the entity or agency that is concerned with such activity.
No. YOU assume that they care to the level of care that is required of them. I do not, because if they did, then they would never be fined for failing to do that.
Casinos are occasionally fined for various things. One of the more common ones is underage gambling. They get fined for all sorts of different stuff, though. Some things are unseen by the public, such as improper storage of a slot machine.
Quote: Mission146YOU assume that they care to the level of care that is required of them.
There's no assumption that they care, beyond the level of care that's required of them.
I make no assumption that they care at all.
What I wrote was they are required to take certain actions, not that they care.
Quote: coachbellyWhen and where?
Give me a hint...is it in this thread?
Quote: IdiotGamblingWriterWhoContinuesToParticipateInThisThreadPass (with Odds) and a high enough max bet allowed. You could Don’t Pass to offset and even hedge 12 if you wanted.
Field Bet if you could get $600 down, but I don’t think I’ve personally seen a max on E-Craps that high.
Prop bets that let you bet enough could do it, but would be nowhere near virtually guaranteeing 150k on 10k to lose. The expected loss is too high.
Roulette it depends how much you could get down. Pretty high house edge, though, so not sure you could make it a virtual guarantee. You’d have to go $150 on all Even Money bets and either $150 on all, “12’s” bets OR $150 on all dozens (up top) and probably hedge zeroes to be safe. You could over hedge the zeroes in a way that would result in a W2G if it would let you bet enough.
E-Blackjack, if you could bet enough.
Another thing is I’m answering for 10k to get 150k in W2-G, which is ridiculously specific. There are other ways to do it if more than 10k can be potentially lost.
Whatever happens to me in life, I deserve that and worse for my part in facilitating this conversation being continued.
Whatever happens to me after death, assuming anything, it could never be as bad as what I deserve for my role in this discussion.
Quote: coachbellyThere's no assumption that they care, beyond the level of care that's required of them.
I make no assumption that they care at all.
What I wrote was they are required to take certain actions, not that they care.
They frequently don’t care enough to do the actions they are required to do.
Quote: Mission146Whatever happens to me in life, I deserve that and worse for my part in facilitating this conversation being continued.
Whatever happens to me after death, assuming anything, it could never be as bad as what I deserve for my role in this discussion.
Quote: coachbellyFirst it's a single player, then it's two players, then it's back to a single player, and then there's a partner again.
You're assuming that a money-launderer has a confederate that would accept tax liability for him.
Who can keep up?
And you are assuming there isn't any way around that.
Many times, for reasons other than money laundering I have simply switched seats with someone who won a Jackpot.
I guarantee you Casinos don't rewind to see who pushed the button unless a dispute arises.
Of course drug Confederates could both be in need of proof of income
There is absolutely nothing suspicious about two people gambling together nor of high rollers. The act of high rolling or gambling with your best bud isn't going to engender surveillance to follow you around.
And don't argue it looks suspicious if one person bets black while the other bets red because that is so easily hid. One guy just bets low outside while the other bets high inside.
That not only works at E-roulette, it works at a live table too. Trust me I have tried it for ratings. You want to know what happened. The dealer kept schmoozing the guy betting low $600 a spin. Until we tipped him. He saw a big bettor and wanted a tip. He left the guy betting opposite inside alone. Because he wasn't bothering adding up all the individual chips
Coach, professional AP's can run multiple circles around Casino staff. That's just a fact!
Quote: unJon
“In accordance with what we think his dying wishes may well have been, we scatter these ashes at a dumpy regional casino.”
Quote: Mission146You’d have to go $150 on all Even Money bets
Do you mean the same player betting both black & red on the same spin?
My understanding is that combination of bets in no longer accepted.
Are you sure that it is?
Quote: Mission146Whatever happens to me in life, I deserve that and worse for my part in facilitating this conversation being continued.
Whatever happens to me after death, assuming anything, it could never be as bad as what I deserve for my role in this discussion.
Welcome to an average conversation with Coach Belly.
Quote: Mission146They frequently don’t care enough to do the actions they are required to do.
Sez you.
Quote: darkozprofessional AP's can run multiple circles around Casino staff.
All anecdotes aside, the thread is about money-laundering in casinos.
Quote: unJonThe idea that laundering money this way is a good idea is completely silly.
Quote: darkozAnd you are assuming there isn't any way around that.
Many times, for reasons other than money laundering I have simply switched seats with someone who won a Jackpot.
I guarantee you Casinos don't rewind to see who pushed the button unless a dispute arises.
Of course drug Confederates could both be in need of proof of income
There is absolutely nothing suspicious about two people gambling together nor of high rollers. The act of high rolling or gambling with your best bud isn't going to engender surveillance to follow you around.
And don't argue it looks suspicious if one person bets black while the other bets red because that is so easily hid. One guy just bets low outside while the other bets high inside.
That not only works at E-roulette, it works at a live table too. Trust me I have tried it for ratings. You want to know what happened. The dealer kept schmoozing the guy betting low $600 a spin. Until we tipped him. He saw a big bettor and wanted a tip. He left the guy betting opposite inside alone. Because he wasn't bothering adding up all the individual chips
Coach, professional AP's can run multiple circles around Casino staff. That's just a fact!
Actually, I tried to do the switch once because I may or may not have been 86’ed from a casino and hit a jackpot vulturing UX…and they did indeed go back and saw that I hit the button.
In the same casino, when I was definitely 86’ed, my fiancé took a W2-G because I got dealt quads on a $2 denom. I held the four and got up, she sat down and technically was the one to win it.
In the first case, I can assure you there was no dispute with the lady I switched with, she was quite happy with my very generous offer if it had worked.
If there’s one thing you can count on in casinos, it’s inconsistency. You’re lucky if you can find a casino that’s always consistent with itself!
Want to know an answer to a question? Talk to an odd number of casino employees, HOPE the most common answer is the right one. If you only ask two, the answers will probably be different.
Quote: darkozAnd you are assuming there isn't any way around that.
Many times, for reasons other than money laundering I have simply switched seats with someone who won a Jackpot.
And haven't you attracted unwanted attention to yourself in the casinos, with whatever antics you use to run in circles?
Quote: coachbellyDo you mean the same player betting both black & red on the same spin?
My understanding is that combination of bets in no longer accepted.
Are you sure that it is?
Bet Red, bet all the black numbers for the same amount total. The reds would get a handpay if you could bet enough.
Of course, now you’re back to the max bets inside and out perhaps being of concern.
Personally, if I ran a casino, I’d structure it so no possible combination of bets could result in a W2-G. Stops the game, also, staffing costs…but that’s me.
It’s been done with single-line slot machines before. Don’t know if they still exist, but there used to be some with a top jackpot of $1,199.
Quote: coachbellySez you.
It’s sometimes a fact, or they’d never get fined for their failure to do them.
Quote: darkozI guarantee you Casinos don't rewind to see who pushed the button unless a dispute arises.
Quote: Mission146Actually, I tried to do the switch once because I may or may not have been 86’ed from a casino and hit a jackpot vulturing UX…and they did indeed go back and saw that I hit the button.
What was the dispute that arose that counterfeited the above guarantee?
Quote: Mission146It’s sometimes a fact, or they’d never get fined for their failure to do them.
frequently...sometimes...never...who can keep up?
Quote: coachbellyWhat was the dispute that arose that counterfeited the above guarantee?
I was using a personal experience to disagree that what Darkoz implied is 100% the case. There was no dispute. There was a dispute with that lady AFTER that plan failed. LOL
