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Wiring money - a question

Discussion in 'Casino Gaming' started by Tubbs, May 28, 2013.

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  1. Tubbs

    Tubbs High-Roller

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    If I wire money to the casino cage then, at the end of the trip, any funds remaining from what I wired will be returned to the source. Any funds in excess of what I wired are available to me in cash, check, bank transfer etc.

    Consider this semi-hypothetical scenario:

    I wire funds, say $20000, to the casino cage
    I take markers for $4000-$5000 at the tables
    I sometimes leave with some chips left ($1000-$3000), occasionally I win and choose not to redeem the marker and leave with $5000-$10000
    I do not redeposit my chips at the cage but cash them in smallish amounts, around $2000
    I continue this process until all the wired funds have been used for markers and converted to cash and chips
    For any further play I buy-in with cash or chips at the table
    At the end of the trip I leave with the $20000 I wired, plus or minus winnings/loses, all in cash

    Any problems with this approach? I know all the other options open to me to get gambling funds in Vegas, customs regulations and so on. I want to know whether there is an obvious snag with the approach I outlined. Thanks.
     
  2. shifter

    shifter Degenerate Gambler

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    you don't have to be sneaky about this. it's your money, you can do what you want with it. you can cash out as much as you want at any time. you don't have to cash out only $2k at a time, you can cash out whatever you have.

    the only time they care is when you're trying to cash out chips and leave with cash when you owe markers thereby taking their money for a no interest 30-day loan.
     
  3. Tubbs

    Tubbs High-Roller

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    You know that the cashier will often ask if you have an outstanding marker if you cash in chips over say $3000-$5000. I wondered if they would insist I redeposit the chips to my account rather than taking cash, even though it is my funds that are deposited.

    They are very strict on what they can do with funds at the end of the trip. It's all down to money laundering regulations and so forth.

    Given that they are reluctant to give cash from wired funds (even to play at a sister casino) I'm not sure I see them being so relaxed about using my method to convert wired funds to cash.
     
  4. Kickin

    Kickin Flea

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    I was at MGM last time and had an outstanding marker when they asked me this while I cashed in several grand in chips (they always ask). I didn't lie, I told them I did but I wanted the cash to play VP (I left my cash in the safe at Aria). They gave it to me right away, I think he did look up my account though. Point being you can get chips cashed while you have outstanding markers, I guess as long as they don't suspect you're trying to cut and run.

    The amounts probably matter too, but yours are similar to mine, they're likely more diligent on higher amounts.

    By the way, after you wired the money can't you just go to the cage and take out whatever you want in cash? Why would they be reluctant? They'd document it all. Isn't that the same as a bank refusing to give you your cash? That's craziness.
     
  5. shifter

    shifter Degenerate Gambler

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    that's different. those slips you sign when you pull money out of your account are not markers. those are just withdrawal slips so the casino can prove that you withdrew that cash and they are no longer liable for it. markers come from your marker limit account, which are credit. when they ask you that at the cage, they're asking if you owe the casino any money.
     
  6. Tubbs

    Tubbs High-Roller

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    Thanks guys. As to just requesting the cash and walking away, it does not happen like that. The cage is obliged (through whatever regulations) to return wired funds to the original source. They will not just handover cash, they do not view it as mine in that way.

    Last time I played for higher stakes at Bellagio, I had a good trip. I wired $20000 before the trip. At the end I still had $16000 in my account. When I presented another $20000 in chips they took $4000 to redeem the outstanding 'marker' to top my account back up to $20000. The full $20000 was then wired back to my FX broker. I was then able to take the remaining $16000 as I wanted. That's how it works.
     
  7. shifter

    shifter Degenerate Gambler

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    well, if that's the case, then you should cash out the chips in small increments where they don't even request your players card like you were saying and you should be able to get some cash out of it.
     
  8. Drambler

    Drambler High-Roller

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    So if I wired 10k to the cage and then went up and said give me 5k in cash, they'd say no? I'd have to get a table marker? So if you want to play at a different casino you're out of luck? Or I am reading this wrong?
     
  9. shifter

    shifter Degenerate Gambler

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    that is frowned upon because when you wire money to a casino they have to pay to accept it. so they don't want to do that for free and then you just withdraw the money and take it to another casino. but you can get cash from a marker account/deposit to play slots, so I guess if you're smart you just would tell them it's to play slots.
     
  10. paperposter

    paperposter VIP Whale

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    i wired 10 grand to the Palms ,played off it ,paid off my markers when i won at the tables when i checked out i ask for the left over cash and said your welcome to leave on file here or u can have it back,,i just took the cash back no problems.
     
  11. JaxxLV

    JaxxLV Tourist

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    In addition to ^^^^

    I recently wired some $$$ to the Beau (MLife) and pulled funds from the wire xfer at the tables as well as requested cash from the cashier in the HL slot room.
    Pulling it out from HL slot cashier seems to be the easiest way to access cash directly. If they give you a hard time just request some $1500 TITO vouchers and just go cash them at the TITO machine. ( I guess this is what they would give you, I'm not sure if they can just load funds on your card like they FP.) The cashier actually asked what I wanted to do, but it was loud and all I heard her say was do you want ? or cash?

    If its your first wire, you will probably need to go to the credit office to sign a form or two, after that all you need to do is provide a PC to access your funds. The CSR @ the credit desk told me I could either access my funds at the tables, in the HL slot room or I could come back to the credit desk.
     
    Last edited: May 28, 2013
  12. jdvegas

    jdvegas VIP Whale

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    I used to wire money over as my standard practice until recently when I finally moved to LOC.

    • Most casinos will not let you withdraw cash directly at the cage from your wire. Instead, you need to pull chips at a table.
    • During the trip... you should have no problem cashing in a couple thousand in chips here and there (couple thousand each time)
    • At the end of your trip... If you have a history at the casino, they will allow you to take cash/check for balance left on your wire. However, the first few times, they may require to wire back remaining balance to original account. This happened to me the first time I did a wire transfer at MGM. They told me the next time they would be able to give me check if I wanted.
     
  13. Bo333

    Bo333 VIP Whale

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    They don't always let you leave with cash if you owe markers.
    I had about 25K markers out and brought 15K+ chips to the cage and said something like I have markers out but want the cash (I was drunk, what I really wanted was some of the cash). The guy went and got a supervisor when I realized my mistake. I told her I just wanted to keep 2k in cash the rest can go back on account. They were fine with that, but I don't think they were going to let me keep all 15K in cash without paying off some percentage of my markers.

    This was at the halfway point in my trip.
     
  14. shifter

    shifter Degenerate Gambler

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    yes, that's normal. they'll let you take some, but not a large amount. actually it's up to your host how much you can take as he's the one that controls your credit. if he knows you're good for it, he might just let you take as much as you want.
     
  15. jdvegas

    jdvegas VIP Whale

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    That makes sense, but having true markers out is a different scenario than this thread. :peace:
     
  16. Bo333

    Bo333 VIP Whale

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    Agreed. Big difference between a credit account, and cash on hand.
     
  17. thefish2010

    thefish2010 Low-Roller

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    Having done both and dealt with this very issue, I can tell you that you are far better off buying a cashier's check made out to yourself and faxing it to the cage for verification prior to your trip than wiring in money. Most casinos are leery of giving you cash off of a wire - it has to do with money laundering regulations. They don't want to act like a bank. Any amount you don't use specifically for gaming they generally want to wire back to your account (there is some leeway for a few thousand dollars here and there, but not alot).

    However, once you have taken $1 off of a cashier's check front money deposit, even if it was for $1 million, they will break the cashier's check and will generally give you the remainder in any form you want. This will also give you flexibility if you want to change hotels. If you decide mid-trip that the tables suck where you're staying, you can simply withdraw your remaining balance and go. If you wired money in though, they will wire it back to your account, then you would have to wire to the new hotel, which can't occur on weekends and even during the week will cost you at least a day.
     
    Last edited: May 31, 2013
  18. nostresshere

    nostresshere Mr. Anti Debit Card

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    Some said above I can not just go get a few thousand in cash.

    So - if I want to play slots in the above scenario - well???
     
  19. jdvegas

    jdvegas VIP Whale

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    I am not a slot player, so not sure if there are better ways... but as a table player, you would just get chips at a table and go cash them in at the cage. As long as it is just a thousand or two, should not be a problem.
     
  20. Chuck2009x

    Chuck2009x VIP Whale

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    All of the strip casinos I've wired money to, you can sign a marker at the cage (or at a desk in the HL slots area) and get a TITO. The most I've ever asked for at one time was $1,000.
     
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