1e. Re: Cashing Tix Over $1200 - Was: Cashier Computer Error
Date: Tue Dec 30, 2008 10:29 am ((PST))--- In vpFREE@yahoogroups.com, "jackessiebabe" wrote:
> I have never had a problem cashing a ticket because of the dollar
value.The issue is BSA compliance, which now applies to all U.S. casinos. At
some point, which is unspecified and may vary by customer, there is a
requirement for a photo i.d. and tracking.
Don't know what "BSA" stands for (I know that there's a lot of BS in casinos, but assume that's a different BS) - but I assume this one is about the cash reporting requirements.
There is a US requirement to report cash transactions of over $10,000. Many banks have internal policies to report smaller amounts - I've heard $2,000 - $3,000 for some -- although I have no idea why a bank would create more red tape for itself than the law requires. Apparently casinos have a similar policy.
The internal requirements may trigger some of the "referrals" to the cashier by some kiosks, as well as technical problems that could trigger this too.
The handling of the large amounts of cash that occurs in casinos results in some interesting procedures, most of which I don't understand (other than having someone look over an employee's shoulder when they count amounts over a certain level).
I was playing next to a high roller at blackjack once, and as he approached $10,000 in buy-in at the table after a run of bad luck, the pit personnel came up and explained to him that there was a requirement to report his buy-in if the total exceeded $10,000, which he was approaching, and they handed him a brochure explaining the policy. I asked for, and was given, a copy, which I kept for several years and finally tossed a month or two ago. By the way, he then turned his loss around, and over the next few hours won back everything he had lost, and left the table with the remark that he had won $400, and had just had the biggest loss and the biggest win of his life, back to back, in one exciting roller coaster session.
I have no idea if he had any hassle cashing his chips at the cashier, but I've often had the experience of the cashier asking what I was playing, and when I would respond blackjack, they would make a phone call, apparently to the blackjack pit, apparently / presumably to verify that someone had just "walked" with an amount similar to what I had. I always figured this was to protect against someone who might be stealing or counterfeiting chips or something, but was never told, even when I asked, any more than "I have to verify".
Personally, back when I could afford to play $5 VP, I had the good fortune to hit a couple of Royals, and usually experienced no greater fuss over payment of that, than over payment of smaller hand pays at lower denominations. Obviously, W2Gs were issued.
However, I do remember the first time I hit one, early in my VP career, and shortly after I gave up blackjack due to repeated barrings -- I was still referring intermittently to a strategy card on a 3x5 in my pocket, and when I hit my royal, they said they had to do a technical check on the machine and review the tapes. I was scared to death, after my blackjack barrings, that the tape would show me referring to my card, and I would somehow not get paid -- didn't happen, but I was so scared and so excited that I took my cash and went quickly to my room - and forgot to tip anyone; I still feel guilty about that.
I'm sure others on this list deal with even larger amounts of cash, and can tell some great stories, as well as provide some good information. Personally, I'm curious as to what amount of cash makes people nervous, and what they do about it. I've only used a credit line at a casino once, and have always taken my payouts in cash, and my "security" strategy has simply been to keep most of it in the casino safe deposit boxes, and divide it up and carry it in several different places on me and my bags when going to and from the casinos and home.
Once I hid some in a relatively obscure / hidden place in one of my bags in the room, a place I had never "stashed" before, and then forgot I'd done so, and when I later counted my money and found a fair amount missing, panicked, thinking some casino employee had accessed my room, ransacked my bags, and taken my money. Short-term memory loss at its worst! 
I assume most of us carry an amount to gamble with that is far greater than the amount we would shrug off (if there is any such amount) if we just "lost" it (i.e., without gambling it away, eg, by having it fall out of our pocket).
I've never taken a casino check, but if I ever had a REALLY big hit (e.g., some monster tournament cash) that would exceed any amounts I'd need to add to my gambling bankroll, I suppose I would do so - and look forward to that decision.
--BG
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