Cashing out my chips at the chashier window, and the guy asks me for my ID, and he copies down my info and drivers license number on some piece of paper.

First time i've seen this, Why?

http://forumserver.twoplustwo.com/27...casino-435568/

i've only seen that happen when the players hit a jackpot and the floorman needs the info for club tax purposes.

How much?

It's either for tracking purposes, or a fawking 1099 for the IRS pigs.

When I've cashed over 3k in Vegas, the cashier has done the same thing. I was told that transactions more than 3k they ask for ID and copy it. If you cash more than 10k in a 24 hour period, it triggers the reporting requirement for paperwork to the IRS. I think this 3k threshold is just to help them monitor your cashing out 10k+ in that 24 hour span.

It depends on where you are, cashing out any high denomination chips ($5k plus) usually starts a circus and rigamorale behind the cashiers window, but usually anything over $5k will trigger an ID or players card for initial tracking purposes, for both tax purposes and to defend against structuring as well.

Cash transactions above specific amount trigger reports that have to be made under Title 31 of the U.S. Code.

It's federal law meant to control money laundering involving Homeland Security.

Some jackpots can trigger tax liabilities as well.

Something you should always do when someone asks for your personal information, ask them politely WHY they need it?

If it is to comply with federal reporting requirements, they are just following the law.

In a casino you should first politely show them your ID, and then politely ask why. Casino's are not public spaces, they are places of business. It is perfectly reasonable for the proprietor to have a positive ID policy, for example to rate players or maintain an "86" list. As a gaming license holder, the proprietor has a legal responsibility to prevent underage gambling, problem gambling, money laundering, and ban certain people from the property. If the casino allows smoking or holds a liquor license, the proprietor has an additional legal responsibility to prevent underage imbibing.

Just like a bar, you can be carded in a casino at any time, for any reason, or no reason at all, by the proprietor or law enforcement. They probably can't stop you from eventually cashing your chips. But, if they get a bug up their butt, they don't have to do it right now, or even today. And the proprietor can have their friends in law enforcement, whom they work with on a daily basis, bring a whole lot of hassle down on you.

Cliff Note: Show your ID with a smile, then ask why.

In a casino you should first politely show them your ID, and if you care, then politely ask why. Casino's are not public spaces, they are places of business. It is perfectly reasonable for the proprietor to have a positive ID policy and an "86" list. As a gaming license holder, the proprietor has a legal responsibility to prevent underage gambling, problem gambling and money laundering. If the casino allows smoking or holds a liquor license, the proprietor has an additional legal responsibility to prevent underage imbibing.

Just like a bar, you can be carded in a casino at any time, for any reason, or no reason at all, by the proprietor or law enforcement. They probably can't stop you from eventually cashing your chips. But if they get a bug up their butt, but they don't have to do it right now, or even today. And the proprietor can have their friends in law enforcement, whom they work with on a daily basis, bring a whole lot of hassle down on you.

Cliff Note: Show your ID with a smile, then ask why.

CN: No.

If they have a legitimate reason for asking for your ID, they will have no problem explaining before you give them the ID.

Exactly.

They have a perfectly legitimate reason, it's this...

Asking for it specifically when cashing out is probably more due to the tax implications already talked about, but they have every right to request an ID at any time, for all of those other reasons, and you have every right to leave their premises if you don't like it, or don't, for whatever reason, have one with you.

All completely correct - except that this money laundering requirement predates the whole Homeland Security nonsense by three decades - if I recall correctly it dates to 1970. I think it was more aimed at organized crime than terrorists.

fyp

Not sure why you fixed my post ... I've always been told it was a single day transaction situation -- much like a bank deposit of 10k cash.

From a wiki article (which I admit isn't the best source):

http://en.wikipedia.org/wiki/Title_31_casinos

Here is an example of a Cash Out transaction. The established Gaming Day of Casino ABC is 3:00am - 2:59am. At 6:30am, a woman takes $6,400 in slot machine tickets to the main cage of the casino and requests payment in all $20 bills. Later that day, at around 7:10pm, the same woman approaches a bank on the opposite side of the casino and cashes out $4,000 in black jack chips. Because $10,400 was paid out in cash, to a single individual in a single Gaming Day, which is in excess of $10,000, a CTRC must be filed by the casino to report the Cash Out transaction.

Nearly every time I cash out for over $5K I am asked for ID at the cage so if you are playing over multiple days just convert to large chips, keep your buy ins for the next few sessions in chips and cash out how much you need (under 5K, of course)

Just to attempt to clear up some details about the currency transaction rules. It is a single 24 hour period that counts, the hours depend on what the casino has called their business day. This will usually be a shift change time. The collected information is not sent to the IRS. These rules are meant to discourage money laundering, not tax evasion. However, if someone was money laundering to evade taxes this information collected could be used against them.

And it is perfectly legal and proper to take your winnings in chips to avoid being reported. Obviously, a high limit sports better in Nevada would trigger the 2500 ID limit, and the 10k in/out limit, every single day, at multiple locations. I know I did back in the day. When these rules were first introduced in Nevada in mid 1980s, the casinos who that high limit sports books produced high denomination "Sports Book Chips" (1k, 5k, 10k) just for that reason. Also, sports betters can keep their winnings on paper (winning tickets) and bet using that credit, which also does not trigger the currency reporting rules.

Also remember, just like tax 1099s, the 2500 ID limit, and the 10k in/out limit are the minimum amounts that the casino must take action. The casino can ask for your ID, or fill out a currency transaction form on you, for lesser amounts, at their sole discretion. In fact, they have a legal responsibility to do so for any amount, including a trivial amount, if they have reason to believe you are doing some "funny business" with the money, like structuring.

how old are you? it might just be because you look young maybe

What is structuring?

Since the threshold for mandatory reporting of cash transactions is $10K, some people tried to make four $2,500 cash transactions to avoid the report.

That is structuring and will get you into more trouble because it triggers a Suspicious Activities Report.

Correct

But what would trigger an activity report most is if you regularly cash out between $5k-8K (more than a dozen times) so it is still recorded, but still not reported. (has happened to me...)

It has nothing to do with tax implications and everything to do with Title 31 guidelines which Dealerguy explained rather well

This depends on the casino. I've worked where it's 2000, 2500, and 3000. But they really only need a description of you for an MTL if it's under $10,000

Would they ever ID a young looking player at the cage while cashing out a somewhat insignificant amount of cash? If they confronted that player, and he did not have ID, would he lose the money?

The answers are yes, and no. Generally, if the player claims they inadvertently forgot their ID, the casino will hold their chips in the cage, or open a players bank for them. The player can come back with their ID and get their money later.

An underage player, banned player, or a player who just never comes back will probably loose the money, however.