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

      • iDroid on 06/02/2022 - 10:04

        Hmm, it seems you've seen a flaw in my plan.

        I assumed you would be able to walk into a bank and deposit it over the counter into the US account (wise provide one).

        It seems my assumption may be incorrect and in fact you can not do over-the-counter deposits.

        Would a casino "wire" the money to your account?

  • drfuzzy on 04/02/2022 - 23:25

    I was once a "professional gambler" and made millions from casino games over 4 years. It's a pretty shit and meaningless life - i wouldn't recommend it. Don't assume your mate will win in Vegas. I only went once and it took me a week to make $1000 usd. That didn't cover my hotel expenses so no need to bank it.

    • leiiv on 05/02/2022 - 01:31
      +1

      Can you share how did you make millions? Was it the net after substracting the losses?

      • mdavant on 05/02/2022 - 04:53

        Gigolo? Name checks out

      • drfuzzy on 05/02/2022 - 15:14

        Net. No idea what the turnover was but it must have been insane. Prefer not to share much about the strategy. It's nothing you'd read about in books at the time. Each year it's getting harder and harder to extract money from casinos but for some people it is possible. For example I was aware of a gambler who was persued by tax authorities for undeclared income in the tens of millions he claimed was from roulette. You would think roulette is not a beatable game and in most instances that is correct. He was able to demonstrate the money was from roulette. At the time there were certain games that were beatable because of some quirks with the table configuration at a casino making the distribution non-random. He had been tracking and exploiting this for years. I'd be suprised if you could find a beatable roulette game in Australia in 2022 but this is going back many years. There is an interesting tax case in the Canadian legal archives of some brothers who managed to find a system to beat the soccer pools and according to the evidence spent their days eating pizza, playing table tennis and employing people to drive around the city placing bets.

  • h0mbre on 05/02/2022 - 07:49

    During the AU poker craze I was a successful cash game player at The Star and many other private cash games.
    I went to Vegas many years later on my honeymoon and played a few games in various Vegas casinos and the level of play was much higher than I experienced in Aus.

    It felt like almost everyone on the tables played like me, TAG, and were waiting for the next fish to sit down.
    Even on the NL500 tables at the Star, maybe 2 or 3 tight agg players max and plenty of gamblers.

    I am pretty much a grinder and I think Vegas is full of grinders, at least it was in 2016.

    Your friend will not have an easy time however I think this friend is bogus and you just want to know how to get cash out of the USA and other countries.
    Of course Crypto is the answer and there are entities all over the world, especially in the crypto tax haven countries, that convert cash to a privacy coin for a small fee.

  • IanC on 05/02/2022 - 14:59

    I would respectfully suggest that given there is a 99% plus chance he will lose everything ,your friend should be asking will he be able to carry forward his losses to his ATO returns

    if he ever manages to make a profit on a decent investment.

    • w37hsyea on 06/02/2022 - 10:19
      +1

      Cool, but does that answer his question? Nope.

      I wish you well. #tee off at golf course

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