Basic questions about betting in Vegas?

KingofNicotine · Nov 17, 2011

Does anyone here just go, make a bet and come right back that same day?

Are large winnings paid by check or cash? Winnings of over 10k.

Let's say you wanna bet $10,000 on a game, do you travel with that money on you or do you take it out over there?

Will most places take a $10k bet on a game?

DrunkenHorseplayer · Nov 17, 2011

You aren't getting 10k on a game unless you're a known fool.

RenoChazz · Nov 17, 2011

KingofNicotine said:
Does anyone here just go, make a bet and come right back that same day?

Are large winnings paid by check or cash? Winnings of over 10k.

Let's say you wanna bet $10,000 on a game, do you travel with that money on you or do you take it out over there?

Will most places take a $10k bet on a game?

Getting 10k down will be hard most places have limits of 1k so they can move the line, then you can go back. If it's the superbowl you probably wont have a problem. But you just have to spread it around, or go to the M resort. The M is known to take large wagers. And yes you will be paid in cash.

KingofNicotine · Nov 17, 2011

So in theory I can bet 10k on a single game but it would have to be spread out?

Do they discount the taxes right there?

RenoChazz · Nov 17, 2011

KingofNicotine said:
So in theory I can bet 10k on a single game but it would have to be spread out?

Do they discount the taxes right there?

No, taxes is your obligation to keep track of. They don't even report it unless you win 80-1 or better odds. Imagine being a regular whale. You win 2 games pay taxes on the spot then lose your next three. It'd be equivalent to paying taxes on every winning hand in high stakes Black Jack. Nevada beat the Feds on this one by saying people wouldn't gamble as much and the Feds would get less from the casinos. So it is you're responsibility to keep track and pay your taxes. If you use a players card they will track it and give you a win loss statement and the end of the year.

BestPlay2day · Nov 17, 2011

If I ever did want to make a big bet like that, I would spread it out over a number of different casinos to not draw too much attention to myself. If I won just collect the cash at the different casinos. Cashing in a $500 to $1,000 winners wouldn't look out of place.

bigtendominator · Nov 17, 2011

Depends on the sport. NFL, no problem, College, depending on the game.

College hoops, no.

bigtendominator · Nov 17, 2011

Hilton used to take large wagers. Depends on where you go and what you want to bet.

Doug · Nov 17, 2011

spread it out, only a fool would make a bet that generates a paper-trail .

Everybody here says they pay their taxes on gambling winnings, fact is no one actually does !

DollarDay · Nov 17, 2011

Doug said:
Everybody here says they pay their taxes on gambling winnings, fact is no one actually does !

I don't pay taxes on my winnings ........
##)
##)
##)
##)
My accountant pays them for me

hno:

kermit16 · Nov 17, 2011

RenoChazz said:
Getting 10k down will be hard most places have limits of 1k so they can move the line, then you can go back. If it's the superbowl you probably wont have a problem. But you just have to spread it around, or go to the M resort. The M is known to take large wagers. And yes you will be paid in cash.

The M is Cantor as is the Venetian, Hard Rock, Cosmo so I think they will all take decent wagers. Southpoint advertised during the Super Bowl that they would take wagers of a Million. Hilton takes big wagers also and I know that the Wynn sometimes frowns on my wagers because mine are too small !:lolBIG: Cash pays always unless you request a check for big Bucks !

Cap'nCrunk · Nov 17, 2011

KingofNicotine said:
So in theory I can bet 10k on a single game but it would have to be spread out?

Do they discount the taxes right there?

3 years ago, my boss had one of his clerks fly out to Vegas for him with 10 grand to bet on the White Sox ML at Twins. The dude made the bet and flew right back. LOL It was one of the last games of the season when the two were battling for the division. The max bet was 5k, so he spread it out over 2 casinos. Obviously, the Twins won. My boss has enough losers, I don't think he worries about the paper trail.

Soriano12 · Nov 18, 2011

kermit16 said:
The M is Cantor as is the Venetian, Hard Rock, Cosmo so I think they will all take decent wagers.

The Tropicana is run by Cantor, too.

MGM Grand also took 10k+ on NFL playoff games back in 2009, in fact they had opened a separate window for people betting 5 figures.

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