Originally posted on 01/24/2013:

It's been at least 15 years but I use to be a large bettor in casinos all over the country and the Caribbean. One thing I noticed back then (could be different today) was that almost every casino had different reporting rules. Table games, slots, sports betting, etc., very little consistency. I had to report a $350 slot winning once but didn't have to report a $42k blackjack hit. Go figure. I've tried splitting up tickets at certain casinos and still got reported while it worked at others. It also seemed as if I got reported less if I used markers on an setup account. IRS reporting rules is not the same as casino rules. Same thing for banks. I've had accounts at banks that would report certain transactions and others that didn't give a dam. For gambling, if you are reported just make sure you get a record of your losses. It's actually pretty easy to show a loss in the end. If you're traveling international, just declare if you have $10k or more. It will probably get reported to the IRS but that doesn't mean you have to report it on your tax return. There's a few things you can do ahead of time if you don't want to declare (get a foreign bank account, convert cash into jewelry, purchase real estate, etc.) and one thing you can do before you walk up (split it up with a few friends) but if you show up at customs with more than $10k, you better declare it.

I don't get why people at SBR are so skeptical. Who gives a shit if his story is true or not? Either way it will not put any more money in your pocket. I basically lived in casino's back in the day and I saw shit like that every weekend. For every hundred losers you would see someone going big. If you talk to people you will hear a lot of the same rags to almost riches story. Guy down to his last $100 wins $20k. Girl pops in a penny slot on her way to the airport and comes up large. Folks have been hitting long shots since the beginning of betting. It happens. The crazy, ridiculous winners are what brings the losers out of the wood works.

I love seeing and hearing about winners. It makes me feel confident that I'm right behind them. Winning is contagious. So is losing. Why not give Redsox the benefit of the doubt instead of inundating yourself with negativity? It takes a lot less energy being positive. Hating is hard work and leaves your mind clouded in doubt. "I've never seen a winner that didn't expect to win"... And "I've never seen a loser that didn't expect to lose".
Congrats Redsox on your run. If you did it, I can do it. I'll see you at the cashier window.

Quote Originally Posted by ChalkyDog View Post
Can't say I have a ton of experience with $10K+ tickets. However, the little I do have experience with, is that cashing anything $10K or over is reportable. Whether they do it or not is another issue.

A "friend" of mine use to beard for guys in Vegas for a bit, and I know for a fact that they required the payout on each individual ticket never exceed $7,500. Now that number was arbitrary - but it was setup to avoid the IRS issues.

Point being, if you're big time - it is something to be concerned with.

This guy, who is on the run of his life, probably does not have to worry about it too much. However, for future reference - claim ignorance. Willfully deciding not to file is bad news.