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He is generally right if you ever read or have had employment with a financial services provider. Casinos generally do not want to write checks because it doesn't help themselves. It's not a big deal you don't know about the ins and outs. You have no real reason to know.Quote:
Originally Posted by kewlJ
I'm not sure that you understand what money laundering is,Quote:
Originally Posted by kewlJ
and why the laws are set up the way that they are.
You understand of course that "laundering" is a euphemism,
they don't actually wash the powder off of the bills.
When you buy chips with cash, the source of the cash is undetermined.
When you redeem chips for a check, the source can be identified as a gambling win.
If you buy chips for cash, and redeem them for cash, then the source of the cash
still cannot be determined, unless you present identification.
The owner still needs to explain where all the cash came from, if not from gambling.
When you redeem chips for cash, do you present identification?
I'm not sure that you are current on the procedures in Las Vegas.Quote:
Originally Posted by Advantageplay
If the player pulls 30K in markers, and wins 100K, he now has 130K in chips.
If he pulls $30K cash out of his pocket to pay the markers off in cash,
he still has $130K in chips. What happens when he goes to cash them?
The cage will give him a check for $100K which is the extent of the verified win.
They will not give him a check against the extra 30K in chips,
they will give $30K cash for these only.
This is my understanding of how casinos currently work.
Please feel free share your most current experiences in this regard.
No I dont get it.Quote:
Originally Posted by coach bellyYou are representing the funds as a gambling win, as opposed to the actual source of the income.Quote:
Originally Posted by AndrewG
Get it?
Anyway, we are all anxious for you to meet MDawg, so hurry up and join WOV and make this happen.
Mr Mdawg knows how to get in touch with me.
Stop trolling.
An article about IDs and Nevada casinos.
https://www.feelingvegas.com/gamble-vegas-temporary-id/
That will not happen as you wish.Quote:
Originally Posted by AndrewGNo I dont get it.Quote:
Originally Posted by coach bellyYou are representing the funds as a gambling win, as opposed to the actual source of the income.Quote:
Originally Posted by AndrewG
Get it?
Anyway, we are all anxious for you to meet MDawg, so hurry up and join WOV and make this happen.
Mr Mdawg knows how to get in touch with me.
Stop trolling.
I am in contact with MDawg.
He requires you to join WOV and PM me.
If you will not comply, then you are ineligible to participate.
I'm not trolling, I am communicating the truth to you.
God speed.
I have bad news for Messrs Coach Belly and Mdawg. I have reviewed Regulation 5 of the Nevada Gaming Control Board and there are no rules about the issuance of checks to players.
There are rules pertaining to players giving checks to casinos to fund their play.
Regulation 5 is available online. Read it yourselves.
The bullshit is over.
Bad news for you Andrew...Quote:
Originally Posted by AndrewG
Your review is not acceptable without providing relevant links.
We await your direct message on WOV
so that you can review MDawg's check.
When can we expect your compliance?
Here's your link Mr Coach Belly.
https://gaming.nv.gov/index.aspx?page=51
Regulation_5_as_of_04-18.pdf
It's federal laws, guidelines and policies idjit.Quote:
Originally Posted by AndrewG
Post your link that backs up the claim that you cant get a check for anything but profits.Quote:
Originally Posted by theywontpayontuesdayIt's federal laws, guidelines and policies idjit.Quote:
Originally Posted by AndrewG
If it were true that players could only get a check representing casino profits, casinos would not offer checks to any slot jackpot winner before checking their win/loss totals. It would also mean that no checks could be issued to any player without a players card as they wouldn't have a win/loss history.
I can keep coming up with reasons why the Belly/Mdawg theory is invalid.
But the best reasoning continues to be the Nevada Gaming Regulations. Check Regulation 5.
https://gaming.nv.gov/index.aspx?page=51
Hahaha!!! That was really good.Quote:
Originally Posted by AndrewG
Coach belly doesn't understand the basics, much less the wrinkles and ways to circumvent the basics.
I will give him credit, though. He's generated all this nonsense, including replies from me, while not knowing what he's talking about.
Think about all of the coach belly posts. I think he once got how free play works right six or seven years ago. Other than that, he hasn't gotten anything right. Think about his posts, and what gambling knowledge he's shared over the years. He's has not revealed that he knows a whit about anything. But he keeps on truckin', like the little engine that thought it could, but really didn't know it was off the tracks.
He publicly argues about things he knows nothing about. And when it's clear he's wrong, he keeps chugging.
How could anyone really think that a notation on a check that says "casino winnings" was proof of winnings? LOL. It's something a third grader might think. It's fucking ridiculous.
It never even occurred to me when I heard about the MDawg check with the memo that anyone would try to claim that. I thought that size check was evidence that MDawg got a good sized check from a casino. That's what it "proves." So he appeared to be playing at reasonable stakes. That's it. And there's a lot of ways around that, to be honest. He could be playing for squat and wind up with a 100K check that says "casino winnings." I can't believe anyone is trying to use a memo line on a check as evidence of something.
Remind me the next time I hit a future to order a stamp that says "Male Whore Earnings" that I can use on my check from the casino.
The check for the jackpot represents winnings.Quote:
Originally Posted by AndrewG
Same thing that the W2G is issued for...winnings.
Now you're talking in circles. You are replying to phrases chosen out of context. You are a troll.Quote:
Originally Posted by coach bellyThe check for the jackpot represents winnings.Quote:
Originally Posted by AndrewG
Same thing that the W2G is issued for...winnings.
Just ignore Coachbelly. Dude is a moronic trolling dumbass.
How many pages of back and forth does it take to figure that out?
I have to admit that I'm not 100% sure as to your meaning here. I guess everyone should differentiate, "Winnings," from, "Profits," which will at least add some clarity to the overall conversation.Quote:
Originally Posted by coach belly
The W2G (in the context of electronic games) is issued as a mandatory requirement for any single result that results in a return-to-player of $1,200, or more, with the total amount that was bet being irrelevant. The amount that was bet is listed on the W2G form, but has nothing to do with whether or not one gets a W2G. Unlike W2G's for Table Games, the amount that was won relative to the amount that was bet is irrelevant.
Anyway, a player could be $10,000 down for the day on a slot machine, hit a $2,000 jackpot and they will be issued a W2-G. At that point, they could request the payout in the form of a check, regardless of whether they are up or down overall.
To be clear, I am speaking only to how it works on machines and not checks as relates Table Games. I take no position on the discussion related to MDawg's check. I wouldn't know.
I'm not sure that is accurate.Quote:
Originally Posted by Mission146
There are several images of W2Gs available to view using google,
including the following...
I've had W2Gs that sometimes list the denomination and some that don't. Frankly that's only for statistical purposes. The IRS wants your SS number and name and address in additional to taxable amount and any withholding. I've hit 25-cent VP progressives that required a W2G.
But that has nothing to do with the silly claims of Messrs Belly and Mdawg.