How much can you put down on a game in Vegas without a hassle?

**hawkwind** · 10-12-21, 07:00 PM

not more tan $600 with the MARXIST LEFT A--HOLES who make LAWS out of their A-S

**Smokey McPot** · 10-12-21, 10:20 PM

Originally posted by DISTROYA

I know limits are different at each book/casino but can you get down for instance any place 10k...25k...50k wager on strip on a game without giving personal info? Do you have to fill out forms if win to collect? Like binions which I heard takes large bets. Could someone bet 100k of a football game, and leave with 210k if it wins without hassle/verification/forms etc?
I really don't have a clue how it works can someone fill me in with details I'm very interested to know thanks

No matter where you wager in the US you are required to provide ID and SS# for any cash transactions over 10k. It is not for IRS reporting but rather anti money laundering purposes. If you wager/cash with chips you (should) not be required to provide this information.

Casino employees will not answer any questions about these procedures as that could be considered helping you to structure your transactions and could easily get them fired.

**MinnesotaFats** · 10-13-21, 01:59 AM

I had to fill out shit for a 4500 winner last time & that was at Ballys (Caesars Property)

**dbartinbwgc** · 10-13-21, 09:41 AM

it depends on what you are playing
$1200 or more bingo or slots
$1500 from keno minus wager
$5000 from poker minus buy-in or wager
$600 from anything that the odds are 300 to 1
And I believe straight bets are over $10000 payout

**DISTROYA** · 10-13-21, 10:38 AM

Wow... Sounds like it's better to just bet 5K in 4 different books. Say if you have 20k on a game.

**KVB** · 10-13-21, 10:56 AM

Originally posted by hawkwind

not more tan $600 with the MARXIST LEFT A--HOLES who make LAWS out of their A-S

Fuk.

There’s just no way that shits going to go through, right?

**KVB** · 10-13-21, 11:01 AM

Are you concerned about getting down, or getting paid hassle free? What constitutes a hassle?

A poster already put the CTR rules in the thread, those are ironclad.

Check in gamblers, when was the last time somebody got paid big with casino chips from the sports book instead of cash?

Did they write it up? We used to do this all the time and avoided a CTR.

**LongBall52** · 10-13-21, 03:16 PM

I confess my ignorance . But if you win $100,000 on a game in October and Lose $100, 000 on a game or games in November. How much taxes do you owe on gambling winnings for that year?
Now, I understand that people who live in much higher tax brackets than I'll ever be have different cases.

**LongBall52** · 10-13-21, 03:18 PM

Is it simply a mentality that says "no taxes for me if I win overall"?

**KVB** · 10-13-21, 04:10 PM

You can deduct your losses, but not more than you win.

If I made 100,000 one month, then lost 120,000 the next month I would not be able to deduct more than the 100,000 and I can't carry the 20k over either.

Keeping it track is very important.

If you aren't relying on gambling as a reported profession and you have winnings to report, you can put tracked losses as itemized deductions, again not more than you won.

Same for filing pros except it's a schedule C to deduct the losses. There can also be self employment taxes which is from your net earnings. So can't deduct from that. Only way to avoid the self employment tax, or deduct out of it, is to increase the actual business expenses. Like travel to Vegas, and even educational materials, which will decrease your net income.

I am not a tax advisor.

**LongBall52** · 10-13-21, 04:16 PM

Originally posted by KVB

You can deduct your losses, but not more than you win.

If I made 100,000 one month, then lost 120,000 the next month I would not be able to deduct more than the 100,000 and I can't carry the 20k over either.

Keeping it track is very important.

If you aren't relying on gambling as a reported profession and you have winnings to report, you can put tracked losses as itemized deductions, again not more than you won.

Same for filing pros except it's a schedule C to deduct the losses. There can also be self employment taxes which is from your net earnings. So can't deduct from that. Only way to avoid the self employment tax, or deduct out of it, is to increase the actual business expenses. Like travel to Vegas, and even educational materials, which will decrease your net income.

I am not a tax advisor.

Ahh, I see a little better now.

**BuckyOne** · 10-13-21, 04:20 PM

You could build up your credibility with a players card. Even a room key. They will show you more courtesy if you are a guest. Seem to be really worried about who you are. I think their concern is beards and sharps?

**dbartinbwgc** · 10-14-21, 08:33 AM

if you won 100,000 one month then lost 120 next month.
Them would withhold 25%( I think) of the winnings when you cash and fill out form.
Then when you lose 120 next month you have to have proof
and when you file taxes end of year, you would get your taxes paid on that money back

**DISTROYA** · 10-14-21, 05:00 PM

Pretty sad stuff, wondering if same deal with table games. If you sit with 20k and turn into 40k, what happens? Cant you take to 20k net in 1000 chips and slowly cash out several times at the cashier?

**wombat** · 10-20-21, 09:57 PM

Originally posted by DISTROYA

Pretty sad stuff, wondering if same deal with table games. If you sit with 20k and turn into 40k, what happens? Cant you take to 20k net in 1000 chips and slowly cash out several times at the cashier?

Those tax rules don't apply to table games like blackjack, roulette, baccarat etc.