Originally Posted by coach belly View Post
Originally Posted by AxelWolf View Post
On WOV I used poker as an example of how one could easily launder money at the casinos.
What was Matt Bowyer doing to "wash money at casinos" if not what Druff described?
Note that Bowyer was NOT doing it through poker.
I have no clue what he/they were doing, I didn't pay much attention, I don't really care.

Washing money and laundering money are essentially the same; regardless of the specifics, it's the same category. I use the general term, laundering money, to describe a way to make money appear to have been obtained from a legal/legitimate way.

For example, if someone were to find a bunch of money that had fallen out of an armored truck and they wanted to spend that money at some point on fancy things, they could start playing poker while keeping inflated logs of winning, slowly deposit it into the bank, and pay their taxes. Obviously, one would want to keep it all reasonable and believable.



If you wanted to do a significant amount at once, one could collude with someone else who is known to have a significant amount of money via heads-up poker; however, that opens up a whole new can of worms, it seems like you would be more likely to be caught going that route.

It's not too often that casinos keep track of Poker buy-ins and cash-outs, and even if they did, it would be fairly hard for them to keep track of how much someone actually won or lost while playing. Not to mention, people buy chips from one another at the tables all the time.

Yes, the casinos/authorities could figure it out by going to the cameras or closely watching someone, but someone would need a reason to be suspicious in the first place.

One could do the same thing via sports betting. Just bet all the combinations of long-shot parlays at a bunch of diffrent places, cash in the big winners, and get a check or perhaps a W2G/1099 for winning more than 300 to 1, IIRC. Perhaps a 9 teamer betting all 511 combinations(?) The problem with somthing like that would be the high cost.

I believe there are all kinds of different ways someone could use the casinos to launder money with a low chance of getting caught. Of course, if you're going big, fast, then there's probably a good chance that sooner or later you'll get caught.