Question About Walking out With Chips

[beating vegas]

I'm curious about taxes. I've read about CTR, but it seems the casino only requires it for cash in or cash out of 10k or more. If you win three thousand dollars, get paid and walk out, is it up to you to take care of tax obligations? In other words, the casino doesn't keep a record of this?

Yes it’s on you to pay your taxes. However let’s say you made 90 large. If you were to cash out 9 different days of 9 large to keep it under the 10 large CTR and get caught you can get charged for structuring.

 

[Bluest]

Gotcha. Thank you. Would you try to do so without ID? I hear a lot of talk about that... and some debate. What I've heard many APs say is that when they persist at the cage "Thank you but I prefer not to show ID today," they eventually get paid anyway. Then I heard an attorney named Bob Nersesian state that by law they cannot compel you to show ID. If you have the chips they're supposed to exchange them for cash. However, they may feel differently. ; I wonder what are your thoughts on that.

 

[beating vegas]

Gotcha. Thank you. Would you try to do so without ID? I hear a lot of talk about that... and some debate. What I've heard many APs say is that when they persist at the cage "Thank you but I prefer not to show ID today," they eventually get paid anyway. Then I heard an attorney named Bob Nersesian state that by law they cannot compel you to show ID. If you have the chips they're supposed to exchange them for cash. However, they may feel differently. ; I wonder what are your thoughts on that.

In general no. I would ask them why they want I.D. It also depends on the pits attitude. Casinos are bad at handling emotions. If all of a sudden they are rude don’t go to cash out. Come back another day and shift to cash out or have other people do it. But pay your taxes.
Also know the laws for where you play. Avoid Indian casinos.

 

[Bluest]

Great advice, thank you. So in general, if you present chips they should pay out cash. That's the agreement. You cashed in after all! ; )

Why avoid Native casinos? I'd heard sometimes they have promotions, like adding jokers to the deck in Blackjack and making them wild, or instant Blackjack, and other promotions that can be advantageous. There are negatives that outweigh this for you?

 

[Hell'nBack]

Great advice, thank you. So in general, if you present chips they should pay out cash. That's the agreement. You cashed in after all! ; )

Why avoid Native casinos? I'd heard sometimes they have promotions, like adding jokers to the deck in Blackjack and making them wild, or instant Blackjack, and other promotions that can be advantageous. There are negatives that outweigh this for you?

He's likely alluding to the fact that native stores have their own laws where they deny a person's rights legally instead of a normal civil court where they deny your rights illegally.

 

[beating vegas]

Hell n back is correct. Always know the laws for the casinos you play in.

 

[LC Larry]

The laws in indian casinos are whatever they make up at the spur of the moment.

 

[KewlJ]

The laws in indian casinos are whatever they make up at the spur of the moment.

A little (<- probably not knowing me) story about Indian Casinos. After I wore out my welcome on the East Coast, I was looking for a new "home base". I purchased a condo at auction in late 2009 just off the Vegas Strip. (yeah it has been that long). But just about that time, the rage on the blackjack message boards (including this one at the time) was the "great" games at the Indian Casinos, especially in the Midwest. A lot of top player were spending a lot of time traveling to and playing Midwest Indian Casinos.

I thought about doing likewise. Making that my home base and spend a year or two travelling to these "superior games". But I didn't and mainly because I didn't trust them. I like to know the rules and laws and what recourse I have. I like places that are regulated, not places that do as they please with no real oversight. I like knowing Bob Nersesian is nearby and has power to do something. (which he is almost powerless on Indian land). So I didn't go that route. I moved to Vegas instead.

Over time, I heard from a number of players that their results at the "superior games", weren't what they should have been. Some losing outright. Some just far below expectation. Now nobody has a large enough sample size that would definitively prove anything. But in looking back, I think I made the right decision.