I am going to Vegas this fall for a major sportsbook assault. I am anticipating wagering between 5 and 10K per day. My analysis of the best way to handle large amounts of cash. includes fronting the money to the Casino and drawing, Safety Deposit boxes, Chip conversion etc. I will not be staying at the casinos most of the time so I am assuiming that the Safety Deposit boxes won.t be free of charge.
Can anyone offer me any advice based on personal experiences.
I would appreciate it.
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I am going to Vegas this fall for a major sportsbook assault. I am anticipating wagering between 5 and 10K per day. My analysis of the best way to handle large amounts of cash. includes fronting the money to the Casino and drawing, Safety Deposit boxes, Chip conversion etc. I will not be staying at the casinos most of the time so I am assuiming that the Safety Deposit boxes won.t be free of charge.
Can anyone offer me any advice based on personal experiences.
Are you going to be playing 1-2 games at 5k each? Or 5-10 plays at 1k each?
Look into the sports book apps from casinos. You will have to deposit money with the casino first, but you won't have to carry the cash with you. I am not sure what the limits are though.
Are you going to be playing 1-2 games at 5k each? Or 5-10 plays at 1k each?
Look into the sports book apps from casinos. You will have to deposit money with the casino first, but you won't have to carry the cash with you. I am not sure what the limits are though.
Nickel or dimes are limits usually maybe more depending on the sport but you can have multiple accounts with different books so thats a safe practical way to go
Nickel or dimes are limits usually maybe more depending on the sport but you can have multiple accounts with different books so thats a safe practical way to go
Unless you are going to limit yourself to 1-2 books ,you're going to be carrying cash around anyway.When you are walking on LasVegas Blvd you are the safest place in LasVegas,no muggers/hookers. My money is always safe when I'm holding it and if you "lose" your ID (happens and happened) you doen't want to know the hassle to get your money. Do you want to juggle money in 5 different books with 5 different lines when you have a steam play going at 10am??
Unless you are going to limit yourself to 1-2 books ,you're going to be carrying cash around anyway.When you are walking on LasVegas Blvd you are the safest place in LasVegas,no muggers/hookers. My money is always safe when I'm holding it and if you "lose" your ID (happens and happened) you doen't want to know the hassle to get your money. Do you want to juggle money in 5 different books with 5 different lines when you have a steam play going at 10am??
15-20 bets all over the board for $500 each? Use chips or make sure you don't bet a total over $9999. to avoid the filing of money-laundering form.(CTracking) You might split your sessions by 15-20 minutes if you are betting over 10K as the book is instructed to report anyone they suspect is acting to avoid the reporting of this regulation. On the other hand ,use chips as this elimaniates all the hassle. The meaning of this is the book must report anytime a sum of 10k or higher is played and the name,ss#,and amount must be recorded. This is not for bet tracking or income tax but to track money laundering and you would have the same situation if you were to pay for a car with 10k cash from a dealer.
15-20 bets all over the board for $500 each? Use chips or make sure you don't bet a total over $9999. to avoid the filing of money-laundering form.(CTracking) You might split your sessions by 15-20 minutes if you are betting over 10K as the book is instructed to report anyone they suspect is acting to avoid the reporting of this regulation. On the other hand ,use chips as this elimaniates all the hassle. The meaning of this is the book must report anytime a sum of 10k or higher is played and the name,ss#,and amount must be recorded. This is not for bet tracking or income tax but to track money laundering and you would have the same situation if you were to pay for a car with 10k cash from a dealer.
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