Casino insider tells all about security

zengrifter

zengrifter

Banned


Casino insider tells (almost) all about security
Engineer built systems used by up to half the world’s casinos

Jon Brodkin (Network World) 10/03/2008 07:56:55

Jeff Jonas knows the Las Vegas gambling industry inside and out. As the founder and chief scientist of Systems Research & Development (SRD), Jonas helped build numerous casino systems before 2005 when his company was purchased by IBM. Big Blue was intrigued by SRD's NORA system (Non-Obvious Relationship Awareness), a technology that uncovers relationships that can be exploited fraudulently for profit, such as connections between dealers and gamblers. Now a distinguished engineer and chief scientist for IBM's Entity Analytic Solutions, Jonas is still based in Las Vegas but is focused more on applying his technology to national security and the banking industry.

Speaking at the O'Reilly ETech conference on emerging technology in the US on Thursday, Jonas promised to reveal some, if not all, of the secrets he learned about the casino industry. Before the talk, he called some of his former clients to make sure certain details could be revealed.

"My idea today was to tell more about the casino industry than I ever told," Jonas said.

After Jonas moved to Vegas in 1990, he met a man who said his job was to cheat casinos.

"I'm like 'are you a card counter?' He says 'you don't get it! That would be like marijuana. What I do is like heroin!' I didn't know anything about this. Then he proceeds to show me his disguises, all these glasses, his mustaches. And I'm like 'this is going to be crazy.'"

Over the next 15 years Jonas helped pioneer facial recognition technology and various other systems in casinos such as the Bellagio, Treasure Island and Beau Rivage.

MORE- http://www.computerworld.com.au/article/208297/casino_insider_tells_almost_all_about_security/
 
2

21forme

Well-Known Member
From the article:
For tax reasons, casinos have to track players who cross certain winnings thresholds, such as US$2,500 and US$10,000, Jonas said. If you win this much money, expect to be followed even if you haven't told anyone your name.

What's the $2500 limit?
 
aslan

aslan

Well-Known Member
21forme said:
From the article:
For tax reasons, casinos have to track players who cross certain winnings thresholds, such as US$2,500 and US$10,000, Jonas said. If you win this much money, expect to be followed even if you haven't told anyone your name.

What's the $2500 limit?
Click to expand...
Isn't that a new IRS requirement the casino has to fill out in some misguided effort to detect money laundering?
 
R

runningaces

Well-Known Member
21forme said:
From the article:
For tax reasons, casinos have to track players who cross certain winnings thresholds, such as US$2,500 and US$10,000, Jonas said. If you win this much money, expect to be followed even if you haven't told anyone your name.

What's the $2500 limit?
Click to expand...
It's cashing out more than $10,000.00 ina 24 hour period. And if they want to be asses about it, if you cash out 4 times for $2500.00 each time that qualifies. I got lucky once about a year ago ( not bj) and cashed out over 10k, I had to fill some form out, it's not that your getting taxed it's just some new procedure. I've been told to keep a log book of any loses, write down witnesses time date etc.. in case irs tries to make you claim it, then you come back with that.

I should note that this $10k rule is only for cashouts at each casino. If you csh out 7500.00 at Bellagio and 7500.00 at Harrahs you're OK.
 
K

Kasi

Well-Known Member
21forme said:
What's the $2500 limit?
Click to expand...
I don't know but casinos are not obligated to cash in chips when presented. They have to make sure that you actually played there kind of thing. I guess so you don't give them to a friend to cash them in for you.
 
aslan

aslan

Well-Known Member
There was talk in one of the threads last summer about a new requirement for IRS to report winnings of $2,500 and more. It may have been limited to Las Vegas, I don't remember. But it's more of a requirement on the house, not the customer; still they may need information from the customer. It doesn't make it a taxable event, and I'm not sure what it is they are trying to track. There was mention last year in the thread of money laundering. I'll try to find the thread. I believe Ken was involved in the discussion.
 
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