Cashing in sportsbook tickets in Vegas

Trapstar · Aug 22, 2007

Going to Vegas tomorrow, and I will be cashing in some winning sportsbook tickets. Does anyone know if the sportsbooks make you fill out any forms if you cash out for over a certain amount? If so, does anyone know the amount? I know slots have a set amount, but I have no idea about sportsbooks.

I have 4 different tickets to cash in, with one worth more than the other 3 combined. Should I cash them in on different days? Should I give my girlfriend a couple of them to cash in for me? Does it even matter?

Any input is greatly appreciated.

Illini · Aug 22, 2007

10K, but I'm not sure if it's the win amount, or the payout amount.

Santo · Aug 22, 2007

I think from the chat on FP that there are new regulations and they were asking some people at 2.5k

stump · Aug 22, 2007

yes i just got back and they want id per Nevada Gaming for cashouts over 2,500

Trapstar · Aug 22, 2007

Thanks for the replies guys. Stump, does that $2500 amount mean the amount of winnings or the amount they pay you back? I have a ticket to cash that was $2200 to win $2000. So obviously I am winning under that threshold amount but am receiving cash in excess. Do you know if I will be subject to that rule when I cash that ticket in?

dougstewart · Aug 22, 2007

Trapstar said:
Thanks for the replies guys. Stump, does that $2500 amount mean the amount of winnings or the amount they pay you back? I have a ticket to cash that was $2200 to win $2000. So obviously I am winning under that threshold amount but am receiving cash in excess. Do you know if I will be subject to that rule when I cash that ticket in?

Yes, $4200 > $2500

Scooter1 · Aug 22, 2007

stump said:
yes i just got back and they want id per Nevada Gaming for cashouts over 2,500

This is NOT per the Nevada Gaming Control Board ("Nevada Gaming").

It's an individual decision depending on property.

Many properties are not asking for any ID as long as the cash payout is not above $10,000 within a 24 hour period, the same as they did previously.

TheMailman · Aug 22, 2007

By all means unless you need the cash that same day do yourself a favor and cash on a day or like you said have your squeeze cash one for you. The Nugget is a real pain in the a$$ over this.

fhmesq44 · Aug 22, 2007

Just walk up and ask them, if you don't like the answer, wait a while until they change shifts and cash them individually. If you don't want to cash the big one yourself, find some kid who is losing his ass and give him $50 to cash it for you.

Scooter1 · Aug 22, 2007

Trapstar said:
Going to Vegas tomorrow, and I will be cashing in some winning sportsbook tickets. Does anyone know if the sportsbooks make you fill out any forms if you cash out for over a certain amount? If so, does anyone know the amount? I know slots have a set amount, but I have no idea about sportsbooks.

I have 4 different tickets to cash in, with one worth more than the other 3 combined. Should I cash them in on different days? Should I give my girlfriend a couple of them to cash in for me? Does it even matter?

Any input is greatly appreciated.

I just noticed that no one has accurately answered your question "Does anyone know if the sportsbooks make you fill out any forms if you cash out for over a certain amount? If so, does anyone know the amount?"

There is an unchanged Federal regulation requiring ANY business (not just sportsbooks) to fill out a CTR (Currency Transaction Report) for a transaction or multiple transactions totalling more than $10,000 cash within a 24 hour period.

As I mention above, individual properties may demand ID from you for lesser amounts. This is a decision made by the individual properties.
This is (ostensibly) to track your transactions to make sure they know when you've reached the "over 10k in 24 hours" threshhold.
There is no GCB (Gaming Commission) requirement nor Federal or State statute requiring them to demand ID at lesser amounts.

Trapstar · Aug 22, 2007

Thanks everyone for the replies. I'll probably cash them one at a time just for the hell of it. But the aggregate amount isn't over $10,000 (7 and some change), so there probably would not be any problem. The tickets were from the Rio.