Originally Posted by coach belly View Post
If a patron cashes a winning ticket for $10K or more, or bets a total of $10K+ in cash, is the casino required to file a CTR?
Is this some kind of trick question? Maybe some kind of gottch ya" thing that I am not seeing?

I am not an expert in winning tickets totaling $10k as I don't believe I have ever had one (my late partner did).

But in blackjack or other table games it is even worse than that. It's not just a total bet or cashout of $10k, but buy-in as well. A 10k buyin requires a CTR. A player may not win a dime just buy in. AND it is even worse than that. It is buy-in over a single day (casino day). So a player buying in for $3k, 4 different times during the day, the casino is required to issue a CTR. lol. And it could be the same $3000. Suppose he breaks even or wins/losses some small amount, cashes out and buys in 3 more times with that same money. He gets a CTR. Makes no sense. And not only that, but the casino is responsible for tracking that....even if a player is playing unrated.

However, I personally have never understood the negative connotation associated with CTR (other than it wastes time). For AP's, CTR are easily explained. Even for a recreational non-AP player, a CTR is no big deal. Easily offset in most cases. If you are playing enough to win that kind of money, you probably have losses to offset it.

IMO, what is far worse than CTR is SAR (suspicious activity reports), The player person that generates the report often doesn't even know that the report has been generated and sent. And the triggers for such a report are very vague. In a bank frequent deposits and withdraws of just a couple thousand dollars (it is supposed to be $3000) can generate a SAR. In a casino a cashier that thinks a player may be breaking up cashouts can generate a SAR (without even informing the player). There is way too much discretion.