How would you withdraw 100k USD from an online sportsbook?

[rake922]

What would be the best means to withdraw a large amount of cash??

[rake922]

.

[Willie Bee]

I would've withdrawn it a little at a time before it ever reached that level...but that's just me.

[shasso]

Me too.. But if it came to that point, i guess id try to get it out in chunks, like 10k per 2-4 weeks.

OR, try to get some info if someone already has this kind of experience and if the book will make any problems or not if you try to get out everything in one piece

[Rollins08]

No way to get it all at once, unless you fly down there.

[RageWizard]

Is there a way that you could visit and withdraw the money and say open an account there in the country where you have the dough? This might solve immediate solvency problems that I have been reading lately.

[Bill Dozer]

The major books will wire that. Often special arrangments can be made for larger players.

[HedgeHog]

Me too.. But if it came to that point, i guess id try to get it out in chunks, like 10k per 2-4 weeks.

OR, try to get some info if someone already has this kind of experience and if the book will make any problems or not if you try to get out everything in one piece

I'm of the same mind, but I'd take just under 10k each time. I think $10,000 is the threshhold at which Banks earmark deposits for Fed review. I'd check with someone with a better understanding of bank regs if this "problem" ever arises.

[zerocage]

I don't think I'd feel comfortable having that much in a book at one time

[rake922]

Is there a way that you could visit and withdraw the money and say open an account there in the country where you have the dough? This might solve immediate solvency problems that I have been reading lately.

Explain the solvency problems you have read

[BettingProphets]

got Cashiers Cheque Guaranteed cash from Olympic in 2002 for 70K

no problems



wires are the way to go though

[HedgeHog]

Rake:

Did you recently hit big at one of the on-line casinos, or is this just a hypothetical thread?

[pokernut9999]

Rake:

Did you recently hit big at one of the on-line casinos, or is this just a hypothetical thread?

Kind of wierd to start a thread on this, and at the same time start one on "is gambling and losing legal ? "

[pokernut9999]

And bitch about losing $400 bucks in 50 seconds yesterday.

[MoneySportsGuy]

Yeah geez man I would get worried if my books have like 3000k in them let alone 100k my gosh.

I sure would like that problem though cause I could find some ways to deal with it


How many books do you guys use?

[rake922]

How many books do you guys use?

http://forum.sbrforum.com/players-talk/52321-how-many-books-do-you-use-given-week.html

[purecarnagge]

obviously a bank wire is going to screw you. You have to find something to dump it into without the feds knowing about it. if you get the IRS attention or the Feds your screwed.

[Thremp]

obviously a bank wire is going to screw you. You have to find something to dump it into without the feds knowing about it. if you get the IRS attention or the Feds your screwed.

WTF?

[jjgold]

80% of books would never pay you 100k first off

Bank Wires

[pvcpipe]

depending on the book, they'll just stiff you on it, anyhow. betus or usdbet would laugh their ass off.

[durito]

No you cannot go pick it up at the book.

Opening bank accounts in foreign countries isn't particularly easy either (assuming you have no residence status there) -- though not impossible.

All of the A+ books will send bank wires for a minimum amount -- greek for example is 10k.

Assuming you pay your taxes correctly, you can as a big of a wire as your bank will take without any worry on your part.

[Poker_Beast]

No way I would let my balance get that high unless you won a huge tourny. I would pray you get the cash before they shut down.

[treece]

I heard feds now check anything over $3,000 or $3,500. Can't remember which one so I'd just do a $2800 withdraw at a time to be safe.

[Cyclone]

There's a lot of misinformation here. There are no government "limits" of any kind on checks or wires. For an amount this size, a wire makes the most sense.

[twtb19]

I'm of the same mind, but I'd take just under 10k each time. I think $10,000 is the threshhold at which Banks earmark deposits for Fed review. I'd check with someone with a better understanding of bank regs if this "problem" ever arises.

If you do a lot of transactions just under $10k it raises a lot of eyebrows as well. I work at a bank and they will fill out the form when they notice this trend regardless if it meets the $10k requirement because it appears you are trying to avoid it.

[HedgeHog]

If you do a lot of transactions just under $10k it raises a lot of eyebrows as well.* I work at a bank and they will fill out the form when they notice this trend regardless if it meets the $10k requirement because it appears you are trying to avoid it.

Good to know. Probably best to have the whole amount wired and take your chances.

[rake922]

If you do a lot of transactions just under $10k it raises a lot of eyebrows as well. I work at a bank and they will fill out the form when they notice this trend regardless if it meets the $10k requirement because it appears you are trying to avoid it.

How many examples in what time frame would it take for somebody to "fill out the form"

[Cyclone]

To answer your last question, there are no specific guidelines. As I said before, the only "limits" apply to transactions involving CURRENCY, not checks or wires. I wouldn't want $100,000 in cash in my hands anyway. If you're trying to avoid taxes, that is very difficult to do with this amount, and extremely risky if you are caught.

[curious]

What would be the best means to withdraw a large amount of cash??

I'll go get it for you for 5%.

[rake922]

Oh jeez

http://en.wikipedia.org/wiki/Suspicious_Activity_Report

[durito]

It all comes back to one question: are you trying to cheat on your taxes? If the answer is yes, then you should be concerned. If not, you can withdraw as much as you like.