AxelWolf
AxelWolf
Joined: Oct 10, 2012
  • Threads: 151
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December 10th, 2015 at 8:02:25 PM permalink
Quote: GWAE

Kinda funny that I never really knew what laundering was. I thought it was counterfeit money being exchanged for real money.

I feel like the scene in office space when they discuss it.

I'm not sure what they call that. However once you do exchange it. You now have illegal money so now you want to spend it. That's where laundering comes in.
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
Wizardofnothing
Wizardofnothing
Joined: Jul 3, 2015
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December 10th, 2015 at 10:50:34 PM permalink
Casino win loss statement from my experience are not worth the paper they are printed on
No longer hiring, donít ask because I wonít hire you either
AxelWolf
AxelWolf
Joined: Oct 10, 2012
  • Threads: 151
  • Posts: 19805
December 10th, 2015 at 11:19:24 PM permalink
Quote: Wizardofnothing

Casino win loss statement from my experience are not worth the paper they are printed on

You miss understand what i'm saying , the casinos do win loss statements to keep track of YOU. They were not originally made for the players to use.

They may not be sufficient proof of your W/L, however if the authorities wanted to use them against you they would suddenly be proof positive.
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
MrV
MrV
Joined: Feb 13, 2010
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December 10th, 2015 at 11:46:48 PM permalink
I rely in part on my W/L statement when doing my income tax returns.

No problems to date, but then again I've never been audited.

I also keep a wriitten record of the dates gambled, the casinos visited, and the total amount won or lost each day at craps and slots.
"What, me worry?"
Wizardofnothing
Wizardofnothing
Joined: Jul 3, 2015
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December 10th, 2015 at 11:56:25 PM permalink
You said the key word- haven't been audited

You can win 10 mil and write it off- no problem until you get audited - then without win loss logs with sitter color inks and frayed pages to show use may may may suffice- win loss statements from casinos won't help at all
No longer hiring, donít ask because I wonít hire you either
MrV
MrV
Joined: Feb 13, 2010
  • Threads: 325
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December 10th, 2015 at 11:58:43 PM permalink
My thinking is that the combination of W/L plus notes of daily profit or loss will suffice.

Let's just hope I never find out.
"What, me worry?"
Dealer314
Dealer314
Joined: Dec 7, 2015
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December 11th, 2015 at 5:08:36 AM permalink
I work as a dealer and they teach us all this. Google search casino title 31. Everything you need to know will be there.
muleyvoice
muleyvoice
Joined: Nov 14, 2015
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  • Posts: 135
December 11th, 2015 at 8:32:29 AM permalink
The feds hate legal gambling more than illegal gambling. So most of that talk about laundering money at legal casinos is just that, talk, Amazing Bent Finger Lou investigation in 2008 was 5 years in the making and Fat Dave was on West Coast in 2003 and flying back to Phili several times a year and was on the FBI map as part of Lou's family. And it only took another 7 years for FBI to arrest Fat Dave. What a joke !
ukaserex
ukaserex
Joined: Jul 12, 2015
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December 31st, 2015 at 9:01:11 AM permalink
I'm no expert here- but if I were to find a suitcase full of unexplained cash, this is what I'd do:

Go to the largest casino - one I don't play at - Let's say Beau Rivage in Biloxi.

Go to a video poke machine. Feed it $500 to $1000.

Just cash it out. Not even play a hand.

Repeat a couple of times.

Go to the ticket / cash out machine. Feed it one ticket.
Go to another ticket/cash out machine, feed it another.

Keep going until I've swapped all my "found" money for the casino's "clean" money. That deals with any serial number issues. Obviously, the more money you have, the more tedious this would be.

Now, to come up with a way to explain the reason behind the accumulation of funds - small, numerous pay outs.

Apply online for a Bluebird (American Express) card. They're free, and issues without credit check.

Deposit a grand or so, on different days.

Now you have stored value that you can pull out when you want at any atm.

Repeat as necessary
"Those who have no idea what they are doing, genuinely have no idea that they don't know what they are doing." - John Cleese
TwoFeathersATL
TwoFeathersATL
Joined: May 22, 2013
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December 31st, 2015 at 9:32:37 AM permalink
Speaking as one that has found a suitcase full of cash, yes I really did, I can tell you what not to do....
Do not stuff the gym bag full of cash into an empty cardboard box and carry it up three flights of stairs and dump it in the pile of empty cardboard boxes in the hallway outside of Burt Reynold's new restuarant.
Especially you shouldn't do this if as you pass that second flight of stairs there is an unusual and rather intense looking person standing in the doorway holding the door open. All this in what are basically fire exit stairwells in a major hotel/entertainment/shopping complex in a major city on the day after Thaksgiving if the gym bag full of cash was placed where you found it by the GBI and they thought they had all the exits covered, covered with serious firepower. And the bad guy gets away, albeit without the cash, and you were the only person that saw him, and could pick him out of a line-up. You will find yourself with a lot of explaining to do, and a bunch of other hassles.
Youuuuuu MIGHT be a 'rascal' if.......(nevermind ;-)...2F

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