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

      • Stopback 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.

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

    Should be able to sort something with Citibank

  • JimmyF on 02/02/2022 - 22:57

    He could potentially win tens of thousands of USD

    Or not….

    • Scrooge McDuck on 02/02/2022 - 23:06
      +2

      potentially

      • JimmyF on 02/02/2022 - 23:14
        -1

        Do you know the amount of people that think they can beat the 'house' that arrive in Las Vegas every day vs the amount that DO?

        • Scrooge McDuck on 02/02/2022 - 23:41
          +1

          No.

        • Danstar on 03/02/2022 - 10:10
          +3

          Poker isn't against the house. It's against other people, so someone will walk away with someone elses money. The casino walks away with a bit of everyones money via the rake

          • JimmyF on 03/02/2022 - 10:17

            @Danstar: So what you're saying is the house doesn't lose but most of the players in the game do?

            • Danstar on 03/02/2022 - 11:09
              +1

              @JimmyF: It's 50/50. Who ever loses means someone else won. The casino just takes a small % of all pots…

              • dizzle on 03/02/2022 - 11:24
                +2

                @Danstar: Not really 50/50

                If 6 people are at the table, it's likely to be 5 losers and 1 winner.

                • Scrooge McDuck on 03/02/2022 - 11:47

                  @dizzle: More accurately, an unraked poker game is a zero-sum game — the total winnings of winning players are provided by the total losses of losing players.

                  A raked poker game is a negative-sum game, but still beatable depending on how player edges compare to the rake.

                  Some poker games feature a monetary addition to the prize pool provided by the venue to drive patronage. These could be classified as positive-sum games.

                • Danstar on 03/02/2022 - 13:02
                  -1

                  @dizzle: It's 50/50 as in: you (50%) vs. everyone else (50%)

                  I tried to put it as simple as I could for those who think that the Casino is a chance to win on poker tables. (They automatically win in every hand lol)

                • Antikythera on 04/02/2022 - 11:30
                  +1

                  @dizzle: except the losers leave and the winner stays on the table…..so could be 20 losers and 1 winner.

                  • Danstar on 04/02/2022 - 13:03

                    @Antikythera: Still someone will walk away with someone else’s money

            • Danstar on 04/02/2022 - 22:59

              @JimmyF: For every loser, someone else wins

              What’s not to get? It’s not like black jacks or baccarat

              • Antikythera on 05/02/2022 - 10:20

                @Danstar: in James Bond movies it seemed like Baccarat was player vs player not player vs the casino. is that not the case?

                • Danstar on 05/02/2022 - 10:31

                  @Antikythera: I think in most casinos it’s player vs. banker and betting is set up similar to black Jack. Where you can bet as the players hand or bankers hand. Any losing beats go to the casino

  • Hybroid on 02/02/2022 - 23:06
    +4

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

    Yes. Take your passport and as much other ID as you can to a bank and open an account. You'll need a valid US address which can be anyone's you have access to. No PO Boxes.

    Some large banks can be iffy for foreigners due to Patriot Act but you'll likely get more luck with credit unions like America First whom will open the account and issue you bank cards on the spot at the branch. No waiting 2-3 weeks for post.

  • rack on 03/02/2022 - 00:28
    +1

    "How to Deposit Cash Won in Las Vegas Casinos?"

    The same way you count chicks before the eggs hatch.

  • OzCheapo on 03/02/2022 - 00:35
    +6

    Scrooge, not sure why no one has called this out but why are you asking about money laundering on the cheapest bargain site in Australia.

    I'd look at HSBC or Citibank as they've been flagged for money laundering before.

    • Danstar on 03/02/2022 - 09:01
      +1

      He isn't asking how to launder any money won…

  • 87percent on 03/02/2022 - 08:40

    Strap it to your body

    or

    put it in condoms and swallow it

    • prisonmike on 03/02/2022 - 10:48

      Or insert directly for easy access at the airport

    • Typical16-bitEnjoyer on 03/02/2022 - 11:55

      Xray machines my dude. Every airport has them.

      • chriise on 03/02/2022 - 21:36
        +6

        Is there a sign somewhere saying i can't stuff cash up my arse at an airport?!?! NO I DIDN'T THINK SO, officer.

        • Ti-au on 04/02/2022 - 20:53

          As long as you declare it, you can stuff the cash anywhere.

  • djones145 on 03/02/2022 - 08:55
    +3

    HSBC international account, free to join
    can deposit USD, AUD HKD and a few others in local ATM's and branches (that was what it was sold to me as)

    not sure if Las Vegas has any ATMs or branches, i know hawaii didnt (which is why i wanted it for back then)

    this is 3 years ago, things might have chnaged!

  • prisonmike on 03/02/2022 - 08:57

    This is something one of the goons working from Pablo Escobar would ask.

  • MontyMacaw on 03/02/2022 - 09:09
    +7

    A good poker player should be able to walk the streets and not have a tell to say they are carrying wads of cash. If worrying about looking like you are afraid of being mugged then maybe you are not as good as you think.

    • capslock janitor on 03/02/2022 - 22:27
      +1

      i membaa ur roulette post

      hire body-guard

    • Poor Ass on 04/02/2022 - 00:09
      +3

      How's the roulette course going? How many students now?

      • MontyMacaw on 05/02/2022 - 11:28

        There is no course, remember? But the routine is carrying on just fine thanks. I just spent 3 grand on a new computer and it was painless.

        • Poor Ass on 05/02/2022 - 11:47

          Nice

          What specs and which casino?

          • MontyMacaw on 06/02/2022 - 08:24

            @Poor Ass: Current Intel iMac 27 with 1TB SSD 40GB RAM 8core i7 with 2 years AppleCare. Got it off Scamtree an hour after it was listed. There was a queue wanting to buy it. Having spare cash can be an OzBargainer’s most powerful weapon. And it’s my local casino.I was approached again yesterday for some tips by a regular who has been observing my regular cashing out rather than losing all the time. We are having a drink today to share a few ideas - which is code for he wants to pick my brains and I’m happy to share with genuine players because nobody can copy what I do. They fall into the greed trap.

            • Poor Ass on 06/02/2022 - 10:26

              @MontyMacaw: Scamtree you are brave

              When will you break even as you said your losses are more than your wins?

              Which casino I'll come over

              • MontyMacaw on 06/02/2022 - 12:19

                @Poor Ass: That’s a trick question and trying to put words in my mouth. Good try though.

                • Poor Ass on 06/02/2022 - 14:07

                  @MontyMacaw: Nah mate I really thought you were in loss territory

                  I'll meet up. Show me ya skills

  • afah0447 on 03/02/2022 - 10:33
    +5

    Cart before horse…?

  • Niko123456 on 03/02/2022 - 10:39

    My cousins ex-husband won a lot of money on a workers compensation case, which was good for him because he was a gambling addict. Not so good when he went on a big bender in Vegas and lost it all, before hanging himself in his room.

    • Ryanek on 03/02/2022 - 11:09
      +10

      Well that escalated quickly

    • MontyMacaw on 06/02/2022 - 08:30

      I’ve seen many people have a good run on Poker, try and take on the world then realise they were a medium fish in a small pond to begin with and became a small fish in a big pond who lost their nerve and self control when mixing with the big boys. Gambling is about psychology as much as anything else. You need to train long and hard and take gradual steps up the ladder just like top sports people do. Very very few, if any can successfully use hyperdrive to reach their dreams. Success takes work no matter what the task or scheme.

  • datafellows on 03/02/2022 - 11:43
    +1

    Don't carry thousands in your pockets in the USA, Google civil forfeiture :P

    Surely you can buy bitcoin from an ATM somewhere in the Vegas?

  • LFO on 03/02/2022 - 11:48

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

    Not sure how it works right now AND in which particular state of the USA is.

    Providing enough foreign documentation IDs bank accounts could be open in California.
    For US tax purposes (IRS) such person will be a Non Resident Alien subject to no tax.

    Problem could be once your account is open and full of casino dollars changes might block transferring funds.
    Monies will not vanish, just will need another visit to USA to do it "by hand" or at least personally.

    Difficult question as (US) banks have all their own rules and preferences.

    I have a gut feeling in Vegas banks will be VERY flexible.

  • Typical16-bitEnjoyer on 03/02/2022 - 11:58
    +2

    It's for your "friend's" benefit to keep everything in cash.

    Get a safe deposit box at a credit union in Vegas. Dump/retrieve cash from there. Google-fu indicates $25-50 a year. Cheap.

  • Ghost47 on 03/02/2022 - 12:54

    Just play online poker.

    • Scrooge McDuck on 03/02/2022 - 13:08

      That's unlawful in Australia, more risky, more difficult and less fun.

      • Danstar on 03/02/2022 - 13:15

        and I find usually rigged (hands)

        • daleroy1234 on 04/02/2022 - 17:48
          +1

          It feels like it sometimes, but it's honestly just variance.

          If you watch live games, suckouts happen all the time. It's just the nature of the game.

          • harthagan on 04/02/2022 - 17:56
            +1

            @daleroy1234: Yup it's a matter of volume. An online player can see up to 30x the number of hands per hour as a live player depending on how many tables they're playing. It's a given that they will experience more extreme scenarios unfold in a given block of playing time

      • ozchappy on 06/02/2022 - 20:23

        It isn't unlawful to do, it's unlawful for the company to provide the service to Australians.

    • MontyMacaw on 06/02/2022 - 08:32
      +1

      Online poker is a scam. Either the site is crooked or the players rig the game.

  • w37hsyea on 03/02/2022 - 13:00
    +1

    Pretty good question - I did some research and the only option seems to be to open an account with a US bank or to carry cash.

    I'd suggest contacting Citibank/HSBC and seeing if their multinational bank branch in the US will accept a deposit without a US account? (and let us know the result)

  • OzHunterNSW on 03/02/2022 - 15:50
    +4

    "Your friend"… only needs to be paid in cheque. This person only then needs to visit a US bank, and have them transfer funds to AU bank. Or wait till they return home.

  • Cluster on 03/02/2022 - 18:16

    "He could potentially win tens of thousands of USD or more"

    Could and potentially being the operative words here. "Probably not" being more likely. Yes, poker is a mixed game of skill and chance. I've seen plenty of people play it, and the number of players who are profitable can be counted on one hand.

  • jhaley3180 on 03/02/2022 - 18:22

    Ermmmmmm…. Is it just me or does this sound decidedly dodgy?

    • Scrooge McDuck on 03/02/2022 - 18:50

      What about it sounds dodgy? Would you want to carry large amounts of cash whilst travelling?

  • TEER3X on 03/02/2022 - 18:35

    Not sure if already answered, you can deposit directly to casinos.

  • Herbse on 03/02/2022 - 21:04

    Lol

  • harthagan on 03/02/2022 - 21:08
    +2

    25k Bellagio chips, in case no one else said it

  • wizzlesticks on 03/02/2022 - 21:53
    +2

    It's easy to open a bank account in the US as a foreigner. You just need your passport, a local cell number, and walk in to a branch in person. Bank of America has a fee free debit card account as long as you maintain a $1500 minimum balance. Then you could just wire the money to an AU account. Prepare to fill out some non-resident tax forms, however.

    On a separate note, be careful about crossing and re-entering US borders to renew your 90 day visa waiver. Technically you must leave the North American continent (i.e. travel further than Canada or Mexico). However, my experience is that this is not always enforced by the customs agent. I once travelled to Cancun and got my 90 days renewed on my return. But if a pattern is noticed, you could expect a grilling by Homeland Security. Just like Australia, they don't want you to be overstaying, and if you flout the rules you could be deported and banned for several years.

    • rektrading on 03/02/2022 - 22:05

      Easy fix.

      Go to Las Vegas, play poker, cash-out winning to #Bitcoin, leave the US for El Salvador without worrying about the travel rule, spend Bitcoin as legal tender tax-free, travel back to Las Vegas and repeat.

      Drop by Mexico once in a while for the 🍹 and 🌮.

      • wizzlesticks on 03/02/2022 - 22:17

        Not sure if you are being serious or not, but there is no casino in Vegas that will let you cash out to Bitcoin. You could convert it to Bitcoin after cashing out, but you would need to register an Employee Identification Number (sort of like our TFN) before doing so. And the exchange you are using will need to fully identify you. And you will need a bank account that you can deposit your winnings to so you can pay the exchange. So you can pretty much cut out Bitcoin from the equation and life would be a lot easier.

        • rektrading on 03/02/2022 - 22:34
          +1

          People can convert fiat money to #Bitcoin using an ATM.

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

          There are 276 Bitcoin ATMs in Las Vegas.
          https://coinatmradar.com/city/85/bitcoin-atm-las-vegas/

          • wizzlesticks on 03/02/2022 - 22:47

            @rektrading: KYC is the hurdle. You can't just walk up to any bitcoin ATM and deposit large amounts of cash, for obvious reasons.

            • rektrading on 03/02/2022 - 22:50
              -1

              @wizzlesticks:

              What do I need to bring to buy Bitcoin at a Coinhub Bitcoin ATM?
              You need:
              1) Mobile Phone to receive SMS verification code
              2) Bitcoin Wallet (can be downloaded on your mobile phone’s APP Store)
              3) Cash
              4) Drivers License (Only required for customers buying or selling $2,000 or more)
              Our machines only accept Cash as a payment method. If you would like to purchase cryptocurrency with a Debit/Credit Card, you may make a purchase online and have it completed in minutes by going to coinhubatm.com/buy-online

              .

              What are the transaction limits?
              Our limit is $25,000 per day!
              At $2000 you will be asked to scan your Drivers License. If you would like to purchase more than $3000, you will need to provide a 9 digit Tax ID. Everything is scanned and completed right at the ATM within minutes for a transaction.

              • wizzlesticks on 04/02/2022 - 00:53

                @rektrading: That's only after you've been verified.

                Prior to that you need:
                - Email address;
                - Mobile phone number;
                - Full legal name;
                - Social Security Number (“SSN”) or any comparable identification issued by government;
                - Date of birth (“DOB”);
                - Proof of identity (e.g., driver’s license, passport or government-issued ID);
                - Home address (not a mailing address or P.O. Box); and
                - Additional information or documentation at the discretion of our Compliance Team.
                - Non-US Customers will be required to provide proof of address (e.g., electric, gas or water bill).

  • michaelTito on 03/02/2022 - 22:00

    https://www.ozbargain.com.au/node/663769

    is this guy your friend?

  • Brodo Faggins on 03/02/2022 - 23:37

    Just my 2c - maybe an option would be to setup an FX account with your bank and directly deposit cash in USD (then convert).

    I don't know the fees involved, and whether you need to setup a Bank account (KYC) temporarily in US to do an International Money Transfer. You may also need a W8-Ben form which US uses for taxation for non residence

  • umoddbro on 04/02/2022 - 01:45

    Good on your friend for being so optimistic but he aint gonna be walking away with suitcases full of money… house always wins.

    • Danstar on 04/02/2022 - 07:36
      +1

      The house doesn’t take the pot, only a small %

  • vodkaman on 04/02/2022 - 08:41
    +1

    We opened up a BoA account in LA during a 2m stay a couple of years ago. After 9/11 they have KYC rule so you have to open it up in person. Just needed to provide our passports and fill out some forms with a 2k USD deposit to avoid any ongoing fees on the account.

  • Naigrabzo on 04/02/2022 - 10:58
    +2

    Can't he convert them to crypto and put in a cold wallet? ;)

  • jason101 on 04/02/2022 - 11:00
    +1

    Per above comments - Not endorsing this vendor, but cash->bitcoin ATMs are fairly common over there:
    https://www.coin.cloud/

  • Fizzydrink on 04/02/2022 - 11:20

    USA taxes gambling winnings too, unlike here…

  • dust on 04/02/2022 - 11:33
    +2

    All the best to "your friend"!

  • trapper on 04/02/2022 - 11:56
    +1

    It's not just thieves you need to worry about in the USA.

    The police are very likely to seize any large amounts of cash you have on you.

  • RolandWaites on 04/02/2022 - 13:10
    +1

    Take the cash to a place you can buy cryptocurrency. Either buy a stablecoin linked to the US dollar, or buy Bitcoin and then immediately trade it for the equivalent in stablecoin. Then sell it and transfer it out of your crypto account into your bank account.

  • rave75 on 04/02/2022 - 14:09

    If somehow he can create a US bank account, then can use Wise to transfer to Australian bank acc.

  • sarahlump on 04/02/2022 - 15:14

    So if this is about tax evasion? good luck.
    if its just purely about how to get money from America to Australia you can physically carry it, or you can deposit it into a bank account and have them transfer it to an Australian bank.

    • rektrading on 04/02/2022 - 15:46

      Visitor B2 don't pay income taxes.

  • hopper on 04/02/2022 - 15:38
    +2

    Whats earned in vegas…stays in vegas.

  • NorfolknGlue on 04/02/2022 - 16:45

    My best advice to a poker player…" Tight is right"

  • Mr Haj on 04/02/2022 - 16:46

    Have you seen Contraband? Get yourself a boat and smuggle the millions back into Australia.

  • leiiv on 04/02/2022 - 18:24
    +1

    I would do more research to see if most banks offer an international transfer service without opening an account. And there could also be money transfer shops where you can send cash over the counter.

  • atwilliams on 04/02/2022 - 20:45
    +1

    Contact one of the International US banks who operate in multiple countries (e.g Citibank) before you travel to get some professional advice, and to see if you can open a US account and understand how it will work in advance.

    This is likely to be more reliable than advice from a bargain site for what is a pretty specialist request. After all, if you get this wrong there could be tax implications or difficultly accessing the monies.

    • Scrooge McDuck on 04/02/2022 - 21:43

      Thanks, I will. The trip isn't for a little while. I'm still in the brainstorming phase. I'll email the casinos too.

      • w37hsyea on 04/02/2022 - 23:16

        You will probably find the casinos can wire money.

  • iDroid on 04/02/2022 - 23:02
    +1

    Open a wise.com account, create a US account, deposit cash into said US account. Return to AU and use Wise account to convert US to AUD and transfer to your AU account at almost zero fees.

    Simple, flexible, convenient.

    I've used wise (formally transferwise) for over 10 years on a regular basis and never had an issue - instant currency conversion at a known rate that's well above what any bank ever offers.

    • ar7ist on 05/02/2022 - 08:36
      +1

      How do you deposit cash into a US account made via Wise while in US?

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