Question on casino credit

I am paranoid about carrying too much cash due to the possibility of it being stolen or seized w civil asset forfeiture.

Was considering applying for casino credit so I don’t have to carry so much cash, but noticed a problem. I file my taxes as a professional gambler and the credit apps have you sign under penalty of perjury that all info is correction and they ask for your occupation.

Don’t want to put professional gambler on the casino credit app. Anybody know of any work arounds for this issue?

Just write self-employed. It's no that hard. You need me to tell you how to get store credit too....... C'mon man.

Nevada, casinos rescind mask mandates effective immediately

https://www.yahoo.com/news/nevada-go...165409338.html

Damn Straight and About Time!!
They didn't want a Freedom Convoy problem in Vegas.

https://www.youtube.com/watch?v=KTECeqIrmfg

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Originally Posted by MaxPen

Just write self-employed. It's no that hard. You need me to tell you how to get store credit too....... C'mon man.

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Thank you. Yes if you could help me get store credit too that would be great!

I want to buy some nose hair trimmers from Fingerhut but don’t want to tie up any of my gambling bankroll in grooming so would rather finance them.

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Originally Posted by monet

Nevada, casinos rescind mask mandates effective immediately

https://www.yahoo.com/news/nevada-go...165409338.html

Damn Straight and About Time!!
They didn't want a Freedom Convoy problem in Vegas.

https://www.youtube.com/watch?v=KTECeqIrmfg

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Yes, the driverless truck fleet isn't quite ready yet, plus it's getting nearer to the midterm elections.

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Originally Posted by monet

Nevada, casinos rescind mask mandates effective immediately

https://www.yahoo.com/news/nevada-go...165409338.html

Damn Straight and About Time!!
They didn't want a Freedom Convoy problem in Vegas.

https://www.youtube.com/watch?v=KTECeqIrmfg

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About! Friggin! Time!!!!!

Dems are getting rid of the mandates for non-scientific reasons, just like they instituted the mandates for non-scientific reasons. The whole thing has been politics. They are already buried for the midterms but realize the asinine mandates will just make it worse on them.

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Originally Posted by DGenBen

I am paranoid about carrying too much cash due to the possibility of it being stolen or seized w civil asset forfeiture.

Was considering applying for casino credit so I don’t have to carry so much cash, but noticed a problem. I file my taxes as a professional gambler and the credit apps have you sign under penalty of perjury that all info is correction and they ask for your occupation.

Don’t want to put professional gambler on the casino credit app. Anybody know of any work arounds for this issue?

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Put Gaming Consulltant on the app and see what kind of reaction you get.

If you're a professional gambler you shouldn't have to ask questions like that. Also, what's the paranoia about getting mugged or having some sort of asset seizure for?

Based on your input here, one would wonder if you really have every inch of your schedule C IRS filings completely covered for maximum advantage.

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Originally Posted by Rob.Singer

If you're a professional gambler you shouldn't have to ask questions like that. Also, what's the paranoia about getting mugged or having some sort of asset seizure for?

Based on your input here, one would wonder if you really have every inch of your schedule C IRS filings completely covered for maximum advantage.

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Do you watch or read the news? Constantly stories about innocent people getting their funds seized either on traffic stops or at the airport so why would I want to fly with a large amount of cash?

Also you do understand that people are not either rank novices or complete experts right? Once you file as a pro it doesn’t mean you suddenly know everything there is to know and there is no other possible knowledge you can ever hope to gain?

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Originally Posted by DGenBen

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Originally Posted by Rob.Singer

If you're a professional gambler you shouldn't have to ask questions like that. Also, what's the paranoia about getting mugged or having some sort of asset seizure for?

Based on your input here, one would wonder if you really have every inch of your schedule C IRS filings completely covered for maximum advantage.

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Do you watch or read the news? Constantly stories about innocent people getting their funds seized either on traffic stops or at the airport so why would I want to fly with a large amount of cash?

Also you do understand that people are not either rank novices or complete experts right? Once you file as a pro it doesn’t mean you suddenly know everything there is to know and there is no other possible knowledge you can ever hope to gain?

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I guess I'm different. As a professional gambler I read up, asked questions, and studied every aspect of the profession thoroughly before I played my first hand. And I didn't worry about anything to do with my gambling bankroll other than winning.

I do occasionally read about this cash seizure nonsense. You're not gonna get stopped on the road unless you drive stupidly. And they're not seizing your cash unless you give them a reason to search and then to confiscate it. I drove back and forth almost weekly between Phoenix and all over Nevada for 10 years with 5-figures in cash (sometimes 6) with one police stop. Nothing but courtesy from both parties, no search and no ticket. At airports, just stick to the rules and regulations and have every possible answer prepared and truthful, and nothing will ever get "seized".

Casino credit is a big casino tool and not a player's. Same with casino cash advance machines and ATM's.

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Originally Posted by Rob.Singer

I guess I'm different. As a professional gambler I read up, asked questions, and studied every aspect of the profession thoroughly before I played my first hand. And I didn't worry about anything to do with my gambling bankroll other than winning.

I do occasionally read about this cash seizure nonsense. You're not gonna get stopped on the road unless you drive stupidly. And they're not seizing your cash unless you give them a reason to search and then to confiscate it. I drove back and forth almost weekly between Phoenix and all over Nevada for 10 years with 5-figures in cash (sometimes 6) with one police stop. Nothing but courtesy from both parties, no search and no ticket. At airports, just stick to the rules and regulations and have every possible answer prepared and truthful, and nothing will ever get "seized".

Casino credit is a big casino tool and not a player's. Same with casino cash advance machines and ATM's.

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With the exception of the two short sentences in the final paragraph....what a complete load of shit!

Rob is the 'Black Knight' from Monty Python. Having been thoroughly debunked as to all his claims, he continues to fight on. :rolleyes:

Forget casino credit, there's another alternative.

Open a bank account in a national bank, one that has branches where you live and in most states.

Out of all the national banks, Wells Fargo has both the most total locations and a presence in the most states.

It is quite simple. AP's (as the OP described himself) shouldn't use casino credit. Whatever you are doing, whether it be card counting as I do, to machine play, or anything else, IF your play at any time arouses suspicion and or interest, it is very easy for any casino to trace you back to your casino credit information. They will easily have all your info and a nice head shot, face picture if they need it.

I am sure in times before my time, AP type players carried bricks of cash. You saw this in the MIT blackjack movie. I am only on the road limited amounts of time compared to other AP's, but I do exactly as MrV suggested. Let a national type bank hold and move your money. Easy and safe. If you are a high-end player, you may have to make arrangements with the particular branch a couple days ahead of time.
'
If I am arriving somewhere during non-banking hours I may carry a single day type BR to allow for play that day or night. I have arranged for higher daily ATM amounts which would allow me to replenish enough to continue to play for a day should I immediately hit a negative run. Then you visit the bank in whatever location you are at, just as I would if at home.

The idea of carrying around bricks of cash, tens of thousands, hundreds of thousands of dollars for high-end player is way, way too much risk in the risk/reward scale.

Wells Fargo is kind of notorious for asking customers to bank elsewhere if they have “ too much” cash transaction history.

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Originally Posted by MisterV

Forget casino credit, there's another alternative.

Open a bank account in a national bank, one that has branches where you live and in most states.

Out of all the national banks, Wells Fargo has both the most total locations and a presence in the most states.

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This is an excellent suggestion and something that I have actually already done, the only problem being that occasionally you run into plays that require a lot of cash outside of normal banking hours.

Also wouldn’t be problem in a place like Vegas, but if you are traveling to far flung Indian casinos they could be an hour or more to any major banking branches.

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Originally Posted by Rob.Singer

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Originally Posted by DGenBen

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Originally Posted by Rob.Singer

If you're a professional gambler you shouldn't have to ask questions like that. Also, what's the paranoia about getting mugged or having some sort of asset seizure for?

Based on your input here, one would wonder if you really have every inch of your schedule C IRS filings completely covered for maximum advantage.

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Do you watch or read the news? Constantly stories about innocent people getting their funds seized either on traffic stops or at the airport so why would I want to fly with a large amount of cash?

Also you do understand that people are not either rank novices or complete experts right? Once you file as a pro it doesn’t mean you suddenly know everything there is to know and there is no other possible knowledge you can ever hope to gain?

---

I guess I'm different. As a professional gambler I read up, asked questions, and studied every aspect of the profession thoroughly before I played my first hand. And I didn't worry about anything to do with my gambling bankroll other than winning.

I do occasionally read about this cash seizure nonsense. You're not gonna get stopped on the road unless you drive stupidly. And they're not seizing your cash unless you give them a reason to search and then to confiscate it. I drove back and forth almost weekly between Phoenix and all over Nevada for 10 years with 5-figures in cash (sometimes 6) with one police stop. Nothing but courtesy from both parties, no search and no ticket. At airports, just stick to the rules and regulations and have every possible answer prepared and truthful, and nothing will ever get "seized".

Casino credit is a big casino tool and not a player's. Same with casino cash advance machines and ATM's.

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Well that’s exactly what I am doing, reading up and asking questions. I just find it funny that on a gambling forum when you ask a gambling question people like you and MaxPen write back, “Well if you are a gambler you should already know this.”

It would be like going on a Mercedes Benz owners DIY forum and asking how to to do a certain repair and someone responding “Well if you are a Mercedes Benz owner than you should already know how to do that repair.”

Why be active on a forum and when people ask questions relating to the topic the forum is about answer “Well you should already know about that!”

Sort of defeats the purpose of a forum.

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Originally Posted by kewlJ

It is quite simple. AP's (as the OP described himself) shouldn't use casino credit. Whatever you are doing, whether it be card counting as I do, to machine play, or anything else, IF your play at any time arouses suspicion and or interest, it is very easy for any casino to trace you back to your casino credit information. They will easily have all your info and a nice head shot, face picture if they need it.

I am sure in times before my time, AP type players carried bricks of cash. You saw this in the MIT blackjack movie. I am only on the road limited amounts of time compared to other AP's, but I do exactly as MrV suggested. Let a national type bank hold and move your money. Easy and safe. If you are a high-end player, you may have to make arrangements with the particular branch a couple days ahead of time.
'
If I am arriving somewhere during non-banking hours I may carry a single day type BR to allow for play that day or night. I have arranged for higher daily ATM amounts which would allow me to replenish enough to continue to play for a day should I immediately hit a negative run. Then you visit the bank in whatever location you are at, just as I would if at home.

The idea of carrying around bricks of cash, tens of thousands, hundreds of thousands of dollars for high-end player is way, way too much risk in the risk/reward scale.

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Makes perfect sense.

When you are doing machine play though, you will normally have a players card as thats part of your return, and you will regularly hit handpays so the casino is already going to have all of your details including address copy of DL, SS# etc.

So that is something I am not concerned about.

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Originally Posted by mcap

Wells Fargo is kind of notorious for asking customers to bank elsewhere if they have “ too much” cash transaction history.

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I have heard this from a number of sources. I can't say I really understand the rationale behind it. It is your money, you should be able to move it in and out of the bank as often as you want. Obviously doing so almost daily, raises suspicion of drug dealing/money laundering type stuff.

An AP should go into his primary bank and talk to the manager of the local branch. Explain that you are an AP / professional gambler. I have a letter from my attorney stating I am a professional player and have taken it with me to the bank twice when I met with a manager, but it was never necessary to show it. You just tell them who you are and what you are doing, and they generally are very receptive and understanding. That said, I don't deal with the bank mentioned.

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Originally Posted by mcap

Wells Fargo is kind of notorious for asking customers to bank elsewhere if they have “ too much” cash transaction history.

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And opening accounts that people never asked for.

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Originally Posted by kewlJ

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Originally Posted by mcap

Wells Fargo is kind of notorious for asking customers to bank elsewhere if they have “ too much” cash transaction history.

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I have heard this from a number of sources. I can't say I really understand the rationale behind it. It is your money, you should be able to move it in and out of the bank as often as you want. Obviously doing so almost daily, raises suspicion of drug dealing/money laundering type stuff. An AP should go into his primary bank and talk to the manager of the local branch. Explain that you are an AP / professional gambler. I have a letter from my attorney stating I am a professional player and have taken it with me to the bank twice when I met with a manager, but it was never necessary to show it. You just tell them who you are and what you are doing, and they generally are very receptive and understanding. That said, I don't deal with the bank mentioned.

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I think it has to do with their concern about being in compliance. Cash transactions trigger a lot of legal guidelines and paperwork and for smaller customers they don’t want to deal with it.

Money laundering from big customers like major Drug Dealers or Corrupt foreign governments they are perfectly happy to deal with because its large amounts.

I use a small credit union for most of my cash transactions and they are perfectly happy with it as credit unions are much more customer focused than the large banks.

I wonder whether Wells Fargo would have less concern about frequent cash transactions if you opened a business account as opposed to a personal account?

Seems legit for a professional gambler to use a business account.

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Originally Posted by DGenBen

I think it has to do with their concern about being in compliance. Cash transactions trigger a lot of legal guidelines and paperwork and for smaller customers they don’t want to deal with it.

Money laundering from big customers like major Drug Dealers or Corrupt foreign governments they are perfectly happy to deal with because its large amounts.

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Yes but SAR are kind of open-ended. If you read the guidelines several say "transactions of $5000 or more that the bank suspects or has reason to suspect illegal activity". You want to remove that element by sitting down and explaining what you are doing up front.

And not just AP's and gamblers. Suppose you are someone who buys and resells automobiles, sort of an unofficial car dealer. Nothing illegal about that. But if you are moving thousands of dollars in and out of your account a couple times a week, the bank will be suspicious and file an SAR as per the guidelines. But if you go in and sit down with the manager and explain what you are doing, then that same activity is no longer suspicious. The bank doesn't have reason to believe anything illegal and not required to file a SAR.

Special circumstances require a special relationship with the bank. You want to remove that suspicion and you do that by scheduling an appointment and telling them what you are doing.

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Originally Posted by kewlJ

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Originally Posted by DGenBen

I think it has to do with their concern about being in compliance. Cash transactions trigger a lot of legal guidelines and paperwork and for smaller customers they don’t want to deal with it.

Money laundering from big customers like major Drug Dealers or Corrupt foreign governments they are perfectly happy to deal with because its large amounts.

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Yes but SAR are kind of open-ended. If you read the guidelines several say "transactions of $5000 or more that the bank suspects or has reason to suspect illegal activity". You want to remove that element by sitting down and explaining what you are doing up front.

And not just AP's and gamblers. Suppose you are someone who buys and resells automobiles, sort of an unofficial car dealer. Nothing illegal about that. But if you are moving thousands of dollars in and out of your account a couple times a week, the bank will be suspicious and file an SAR as per the guidelines. But if you go in and sit down with the manager and explain what you are doing, then that same activity is no longer suspicious. The bank doesn't have reason to believe anything illegal and not required to file a SAR.

Special circumstances require a special relationship with the bank. You want to remove that suspicion and you do that by scheduling an appointment and telling them what you are doing.

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This works well at small banks / credit unions but big publicly traded banks like Wells are run by the same penny pinching bean counters who run places like MGM & Caesars.

In general they just want the most profitable customers that generate the least amount of expense. IE People set up on direct deposit through their employer that do all their banking online.

Is it worth trying? Sure. Just don’t know how much personal attention a Wells branch is going to give one person especially if they have a corporate policy of not wanting these types of customers.

My primary BR account is at a large nationwide bank (not Wells Fargo) and I have never had any issues. I know Wells Fargo has this reputation and have read several AP's have had accounts closed. I honestly don't know if it is lack of communication and relationship or if they just don't want anyone that moves money too much for their liking.

If that kind of thing IS indeed their policy, officially or unofficially, you find a bank more accommodating to your needs.

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Originally Posted by mickeycrimm

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Originally Posted by DGenBen

I am paranoid about carrying too much cash due to the possibility of it being stolen or seized w civil asset forfeiture.

Was considering applying for casino credit so I don’t have to carry so much cash, but noticed a problem. I file my taxes as a professional gambler and the credit apps have you sign under penalty of perjury that all info is correction and they ask for your occupation.

Don’t want to put professional gambler on the casino credit app. Anybody know of any work arounds for this issue?

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Put Gaming Consulltant on the app and see what kind of reaction you get.

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Lol! I like it!