How to Deposit Cash Won in Las Vegas Casinos?

Scrooge McDuck on 02/02/2022 - 21:44
Last edited 02/02/2022 - 21:49

My friend is planning an indefinite trip to Las Vegas for this year. He plans to stay in the US for around 90 days, but possibly longer if he can arrange the appropriate visa. He may then fly to another country to live indefinitely.

He plans to play poker in various casinos particularly in Las Vegas. He could potentially win tens of thousands of USD or more and doesn't want to carry this nor store it in a suitcase / hotel room.

So what are some practical ways to deposit cash in a bank account whilst in Las Vegas, or more generally traveling in the US or elsewhere?

Can Las Vegas casinos transfer funds from cashed in casino chips to Australian bank accounts?

Can an Australian bank account holder utilise any Las Vegas banks or ATMs to deposit cash? Perhaps Citibank or HSBC?

Can a non-US citizen who is staying in Las Vegas for a few months open a US bank account?

Are there any practical cryptocurrency solutions or other solutions like Western Union?

My friend is looking to invest any proceeds potentially internationally or in cryptocurrency so holding some USD in an account shouldn't be an issue and may avoid exchange expenses.

Any helpful advice is appreciated.

Financial

Comments

  • bloom on 02/02/2022 - 21:46
    +243

    Statically he’ll leave with zero so wouldn’t worry about it

    • pegaxs on 02/02/2022 - 21:50
      +13

      BuT pOkEr iS a GaMe oF SKiLL!

      • Danstar on 03/02/2022 - 08:58
        +4

        So you're saying it's a game of chance?

      • chriise on 03/02/2022 - 21:23
        +3

        I can't tell if you're mocking this, or mocking it ironically.. or… how deep does this go?

      • gimli on 04/02/2022 - 12:39
        +1

        BTOESGMFSKLL

        Cant work out what the secret message is

    • Scrooge McDuck on 02/02/2022 - 21:54
      +14

      Thanks for your input. I provided the context to satisfy understandably curious OzBargainers but this thread is more about how to deposit cash internationally rather than whether or not poker can be profitable. I'd be happy to argue for the latter at a later time.

      • Montyjpm on 03/02/2022 - 05:28
        -5

        Mate, if there is an easy way then you shouldn't see these Asian folks washing dirty money via Star casino and smaller pokies. Not saying your friend winning is dirty but governments look at cash the same way.

    • djkelly69 on 02/02/2022 - 22:13
      +4

      Strange statement to make when you have no idea what his bankroll is, what stakes he will be playing, what the rake is, and what his likely edge over the field will be.

    • SF3 on 03/02/2022 - 09:59
      +5

      Maybe OP's friend is "washing" the money?… it a different way of "winning".

      • rektrading on 03/02/2022 - 10:24
        +1

        Money laundering is the act of introducing illicit fiat money or gains into the traditional financial system.

        Casino winning from a licensed established isn't illicitly obtained fiat money.

        There is no "washing" money here.

        • RedditUser1 on 05/02/2022 - 10:25
          +1

          Honestly, it's not that hard to wash money, hell half the time I do it because I forget there is a $20 in my pocket.

    • MisterX on 03/02/2022 - 21:17
      +16

      Typical OzBargainer comment.

      Statistics lol.. Ok. 90% of businesses fail, k, don't do it. Then proceed to complain about job, salary, but too scared to take any risks. Spends time putting other people down while trying to save $3 on a $15 toaster.

      I love the OzBargain community BTW, but kudos to the guy pursuing this poker career.

      • rektrading on 03/02/2022 - 21:32
        +7

        Most people are conditioned at a very young age to grow up to be workers. They will spend most of their life avoiding risk for the privilege of spinning the rat wheel and for the security of a weekly paycheck.

        https://i2.wp.com/marcfrankmontoya.com/wp-content/uploads/20…

        • JSONBourne on 04/02/2022 - 11:34
          +10

          A lot of people also don’t have the privilege or financial security to do it any other way to be fair.

          • MisterX on 05/02/2022 - 13:35
            +1

            @JSONBourne: Agree with this, but to be really fair, people shouldn't put down other people for trying something.

            There are successful poker players out there and it's amazing to see the top players consistently come out towards the top. It's like athletes. Much respect for them. Majority fail of course, but I won't go out of my way to point that out.

            • rektrading on 05/02/2022 - 15:12
              +2

              @MisterX:

              It's like athletes. Much respect for them. Majority fail of course, but I won't go out of my way to point that out.

              98% of amateur athletes fail to make the cut and will never go pro.

              People should always dream big and fail instead of regretting not trying.

          • ozchappy on 06/02/2022 - 19:45

            @JSONBourne: You can start a business without any capital, it isn't easy and in some businesses impossible, but it's been done time and time again. Even by people working multiple jobs. What most people don't realise or understand is that running a business is hard, it isn't as simple as sitting at a desk telling other people what to do while you get rich doing nothing.

      • Mikeer on 04/02/2022 - 11:09
        +1

        Look at this high roller with his $15 toasters. I buy mine for $7 a pop at KMart.

      • wau2 on 05/02/2022 - 12:11
        +7

        This is so true. I started a business (quit my job and all and have two small kids), failed due to lockdowns. Dusted myself off, learnt from my mistakes and started another and now am very comfortable, and get to spend lots of time with the kids growing up.
        Really disliked the people that kept on saying “I told you so” when my first business failed. At least I had the balls to try rather than constantly saying they would have done this/that etc. you just don’t know what it involves until your in it

        • MisterX on 05/02/2022 - 13:40
          +2

          Good on you mate, that's the spirit. As sad as it is there will always be people like that (original comment above shows this sort of person). When people really make it, the same people will say how "lucky" one is without seeing the blood sweat and tears.

          Nothing wrong with working, but also nothing wrong with getting out there and pursing dreams. Just completely despise people dragging other people down, like they're actually saving you from something hahah.

        • ozchappy on 06/02/2022 - 19:48
          +3

          Tall poppy syndrome, I bet the same ones who delighted in your failure are either passively or actively wanting to figuratively cut you down simply because of your success. Some humans can't stand other people's success.

        • rektrading on 06/02/2022 - 20:09
          +3

          Really disliked the people that kept on saying “I told you so” when my first business failed.

          I hear that every day. However, I love hearing them say *"Why is it crashing, it's a Ponzi, a scam, it's got no value, it's a greater fool theory, it's going to zero, you'll lose all your money, etc."

          I take their negativity as a bullish indicator that I'm early.

    • ErlichBachman on 04/02/2022 - 12:06
      -2

      lol! this comment sums up this entire thread perfectly.

      this is like going to see a financial planner after buying a ticket in the lotto working out how to spend first prize

  • AndyC1 on 02/02/2022 - 21:52
    +9

    Got to watch taxes in winnings…. Lost Wages casino's are NOT the place to do anything illegal as you may end up a few streets away…. The strip and the main part of downtown are safe for tourists, but a few blocks away and you are not safe…..

    Casino's will not help you transfer money away from them, unless you are a high roller and you are asking on Oz Bargain….

    You can ask your bank how to deposit money in the US into your credit card account and see what they say.

  • Yorkshire-Man on 02/02/2022 - 21:53
    +17

    Casinos never lose, that's why they are worth billions. After 90 days you need to be worrying about getting your friend out of rehab & getting home.

    • Scrooge McDuck on 02/02/2022 - 22:08
      +13

      Poker is played against other players so profitability isn't dependent on the casino losing.

      • Yorkshire-Man on 02/02/2022 - 22:11
        +2

        So what about the Rake, 5-10% in Vagus isn't it?

        • Scrooge McDuck on 02/02/2022 - 22:21
          +1

          I believe the standard is 10 % capped at $5 with no rake preflop, at small stakes. Reasonable time charge at higher stakes. And poker players get $2/h in comps. There are a multitude of poker rooms to choose from.

          That's what happens when multiple casinos are allowed to compete for patrons. Unlike in Australia where state governments grant exclusive (monopoly) licences.

      • nigel deborah on 03/02/2022 - 18:06

        Doesn't the casino seed games with professional players, earning money for the Casino?

        • Cluster on 03/02/2022 - 18:13

          That never happens at low end stakes games.

          • nigel deborah on 03/02/2022 - 18:15
            +1

            @Cluster: Oh, right. Need to pay the (presumably very, very high) wages of those players. For whatever reason I thought OP was basically a high roller talking about doing a 3 month trip to Vegas.

        • Scrooge McDuck on 03/02/2022 - 18:34
          +1

          Ha! It's possible. Some players definitely have financial backers. They could very well be linked to the casino. But this occurs when a player trades their poker abilities for additional financial exposure. In typical practice, a strong player offers a stake in their action because they seek to play at higher stakes than their bankroll permits, against wealthy players who are weaker.

          At low and medium stakes, strong players typically have the means to finance their own bankroll. So it makes sense that they keep the entire fruit of their labour.

          It is important to consider the strength of opponents regardless. Collusion and more serious cheating are also possible. Generally large casinos have an interest in combatting these to protect their reputations. They have other sources of revenue which are much larger. It's a different story for private home games and even online casinos. Numerous scams have occurred in those domains.

          • nigel deborah on 03/02/2022 - 18:43

            @Scrooge McDuck: Interesting. I always thought too that those seeded players might be doing it because a) they want the financial stability/safety/no risk (maybe they have family etc, and probably pay would still be insane), and b) they get banned/excluded from casinos and high stakes games. Maybe totally wrong though, hah.

            • Scrooge McDuck on 03/02/2022 - 19:01

              @nigel deborah: I haven't heard of poker players being banned from casinos for winning, thankfully. But seats at high stakes games are commonly offered by invitation only. Strong players need to offer customer experience in some way. This could be celebrity status, skimpy attire, charisma, amusing banter, etc. Weak players only need to offer their money. It's a matter of politics and personal marketing.

  • cashless on 02/02/2022 - 21:54
    +11

    Wise give you local bank account details in many countries, including US.

    • Thundaja on 03/02/2022 - 20:36
      +2

      +1 for Wise - particularly if he’ll be travelling to countries in addition to the USA.

      Do keep in mind though that they charge an annual fee of 1.6% for any balance above $18,000 USD. This works out to be ~$1.32/month for every $1000 USD above the $18,000 free threshold.

  • [Deactivated] on 02/02/2022 - 21:55
    +2

    Can a non-US citizen who is staying in Las Vegas for a few months open a US bank account?

    I know of a person who did this 5 or so years ago with Citibank and they were only there for a couple weeks.

    • greatlamp on 04/02/2022 - 09:52

      Also was going to suggest Citibank, they have a presence in both countries and have good rates on international exchange

    • ladis on 05/02/2022 - 16:34
      -1

      You can but need a lot of ID and it’s not instant You may have to file US tax returns

  • soan papdi on 02/02/2022 - 21:57
    +7

    Create a wise.com account now. Create a US bank account within it. If he moves to another friendly country, should be easy enough to convert currencies.

  • Mokr on 02/02/2022 - 22:17
    -4

    potentially win tens of thousands of USD or more and doesn't want to carry this.

    Tons of people carry around 10k. When traveling you be fine just divide the money.

    • Scrooge McDuck on 02/02/2022 - 22:43
      +3

      The concern is about being robbed and safety in general. I don't carry any more cash than I need for the day even in Sydney.

      • JimmyF on 02/02/2022 - 22:57
        +1

        The concern is about being robbed and safety in general. I don't carry any more cash than I need for the day even in Sydney.

        How many times have you been robbed in Sydney?

        • Scrooge McDuck on 02/02/2022 - 23:04
          +1

          0

          • JimmyF on 02/02/2022 - 23:24

            @Scrooge McDuck: So why so concerned?

            • Scrooge McDuck on 02/02/2022 - 23:39
              +7

              @JimmyF: Because Las Vegas isn't Sydney, it's possibly less safe. And I don't carry luggage around nor look like a tourist here either.

              It's not easy to fit even $10,000 in a wallet.

              • MontyMacaw on 03/02/2022 - 09:07
                +1

                @Scrooge McDuck: It’s true. I once left my wallet in my pocket with $10k in when I did the washing. There were $100 notes everywhere but at least they were clean 😜

                • MissKitten1 on 03/02/2022 - 09:13
                  +7

                  @MontyMacaw: When my husband does that, I'm rewarded with the washing tax. $600 is the most I've scored. I would be stoked for it to be 10k though.

                • timthetoolman on 03/02/2022 - 09:37

                  @MontyMacaw: You're telling me you had 10k cash and you just 'forgot' that it was in your wallet in your pants in the wash?
                  How often do you have 10k cash to be so blasé with it?

                  • MontyMacaw on 04/02/2022 - 23:42

                    @timthetoolman: I had an amazing night at the casino. And I just dropped my clothes on the floor and dove into bed.

                • Waltervp on 03/02/2022 - 10:41
                  +2

                  @MontyMacaw: I did carry 30k usd from s. Korea to USA once, almost got into major trouble in Seoul but because I had the USA currency declaration already filled in they let me off the hook! It did fit in my money belt!

                • trialex on 04/02/2022 - 10:14
                  +6

                  @MontyMacaw: Hello police? MontyMacaw just admitted to money laundering.

              • JimmyF on 03/02/2022 - 09:10

                @Scrooge McDuck:

                Because Las Vegas isn't Sydney

                Your claim wasn't about Vegas, but Sydney.

                The concern is about being robbed and safety in general. I don't carry any more cash than I need for the day even in Sydney.

                • Scrooge McDuck on 03/02/2022 - 11:25
                  +4

                  @JimmyF: If I won't do something in Sydney, I shouldn't do it somewhere even less safe. That's the point.

                  • JimmyF on 03/02/2022 - 14:39
                    -3

                    @Scrooge McDuck: So you are concerned you'll get robbed in Sydney, even though you never have. Do you know anyone PERSONALLY that has been robbed?

                    • Scrooge McDuck on 03/02/2022 - 16:03
                      +2

                      @JimmyF: Yes, I personally know several people who have been robbed in Sydney. One was shot in the face.

                      • JimmyF on 03/02/2022 - 17:54
                        -8

                        @Scrooge McDuck:

                        One was shot in the face.

                        So you'll have a news report handy of that then?

                          • JimmyF on 03/02/2022 - 18:09
                            -5

                            @Scrooge McDuck: WOW you do keep some wild friends…. But that wasn't really 'robbed' on the street as claimed was it? Clearly a inside job that someone knew a poker event was happening with lots of cash. More of a home invasion type thing.

                            • Scrooge McDuck on 03/02/2022 - 18:45
                              +5

                              @JimmyF: I didn't claim he was robbed on the street and you didn't ask that. We were discussing being "robbed in Sydney". Further, I was referring specifically to poker players.

                              Nevertheless, I know someone who was robbed on the street outside the casino too. And no, it wasn't news worthy. I think I've already proven my credibility.

                          • BartholemewH on 03/02/2022 - 21:25
                            +4

                            @Scrooge McDuck: Thread delivers OP.

                    • cookie2 on 03/02/2022 - 22:48
                      +2

                      @JimmyF: So you should only consider the risk if someone you know has had it happen to them already? At this point, nope even before, I feel like you're knitpicking a little but not sure why.

                      • JimmyF on 03/02/2022 - 23:18

                        @cookie2: Dude, how often have you heard of people being 'robbed' in Australia and their wallet taken? Seriously, its a non event! OP it making it out like its a daily thing.

                        • Ti-au on 04/02/2022 - 20:41

                          @JimmyF: I was personally robed once in Sydney.

                          It was not a "non event" to me, however it was to the Police.

                    • RedditUser1 on 05/02/2022 - 10:33
                      +3

                      @JimmyF: TBH he has a higher chance of getting rob in Sydney than Brazil, as he lives in Australia.

              • ATangk on 04/02/2022 - 12:49

                @Scrooge McDuck: 10k can be exchanged for a single chip.

            • Krankite on 03/02/2022 - 08:28
              +1

              @JimmyF: It's the whole risk/reward balance. Am I concerned about being robbed when I have a phone, $20 cash and some cards to cancel? not really but if I was going to be out of pocket to the value of a small car you bet your ass I'd be sweating.

            • chriise on 03/02/2022 - 21:32
              +2

              @JimmyF: Civil forfeiture laws in the US would be enough to put me off carrying large amounts of cash around with me

      • raptormesh on 02/02/2022 - 23:35
        +19

        Well you’ve just played yourself by opening this thread. Now people In Vegas will just look out for a well dressed duck and rob you blind.

        • Ti-au on 04/02/2022 - 20:43

          Will they use a duck blind to do so?

      • morse on 03/02/2022 - 06:05
        +2

        I don't carry any more cash than I need for the day even in Sydney.

        I thought this was for a ‘friend’

      • CocaKoala on 04/02/2022 - 12:30

        I don't carry any more cash than I need for the day even in Sydney.

        You surely mean your "friend" doesn't.

    • Scrooge McDuck on 02/02/2022 - 23:03
      +2

      Thank you. What did you need to provide to qualify and open the account?

      Tax planning is definitely a concern. From what I've been told, tax is only withheld from $1,200+ pays from electronic gaming machines, not from table games which includes poker. Are US taxes payable on net gambling winnings for non-US tax residents?

      • lisamacoz on 03/02/2022 - 08:34

        Have a look at IRS.gov. It might help answer some of your tax questions and what forms you may need.

        • Scrooge McDuck on 03/02/2022 - 11:35

          Professionals do circuits, such as USA/Caribbean/Canada

          This is definitely on the cards. Europe would make a nice trip too but I'm not sure how profitable it will be. Vienna is supposed to be somewhat of a poker hub and Monaco would be romantic to visit.

  • rektrading on 02/02/2022 - 22:22
    -1

    People can buy #Bitcoin using ATM.

    $2,000 cash limit using a mobile number and $25,000 daily with KYC.

    https://coinatmradar.com/city/85/bitcoin-atm-las-vegas/

    • bigbadwolf21 on 03/02/2022 - 08:45
      +12

      Nice. Then that $10,000 you deposited is worth $5000 the next day.

      • rektrading on 03/02/2022 - 08:55
        +2

        1 #bitcoin = 1 #bitcoin

        • Poor Ass on 04/02/2022 - 00:07

          Can't believe you got negged

      • Mokr on 03/02/2022 - 10:31

        it has not dropped 50% in one day.

        • rektrading on 03/02/2022 - 10:33
          -3

          Saying that #bitcoin damped -50% is good for collecting nocoiner votes.

        • Ti-au on 04/02/2022 - 20:51
          +2

          You are very correct.

          It took 2 days to drop -50%.

    • burns13 on 05/02/2022 - 00:20
      +1

      Upvote from me.

  • theHMASfriendship on 02/02/2022 - 22:38

    Should be able to sort something with Citibank

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