Ok none of that applies to the swedish system where that wouldn't work. Which is what my posts are about and what Fore replied to. You couldn't get that money (in large amounts) into the banking system in sweden and the casino would be pointless to pursuit in any way for it.

I still don't see how even in your example now the casino is relevant if they don't give you a receipt. Why is even entering the casino required, how does it help if they dont give you any sort of receipt? You walked in with cash and walked out with cash (and no receipt). Nothing happened no matter how many cash ins/cash outs you make.

Ok, you literally started your post with “I dont know how American casinos operate…” leading everyone to believe you were, you know, interested in learning how money laundering in American casinos would operate.

Fore said no receipt is necessary. So why would you even walk into the casino if they don't give you a receipt and it isn't even necessary? Just have your pile of cash and declare it as gambling winnings. Still not understanding at what point the casino enters the equation.

They send reports to the IRS for cash outs above a certain amount

Sweden has similar money laundering laws as most other countries. Any amount over 10k euros (or structured as such) is tracked and reported by the casino
https://www.riigiteataja.ee/en/eli/5...7003/consolide

under 10k they're not going to bother but if you have a big score it will be reported.

so, they operate more or less the same as the usa.
most money laundering laws are international agreements anyway

I can't just say 100k cash is a casino winning and absolve myself from any investigation or relevant reporting.

but if i take that money to a casino over time, exchange for chips, and either turn it over or cash it out all at once, I can attempt to plausibly say it's gambling winnings, as the casino will have that amount reported. Yes, even in Sweden, that amount is reported

1. There is no taxes on gambling winnings inside Sweden. It's tax free.

2. Literally every single transaction you make between chips/cash in a swedish casino is tracked and logged to your ID, no matter what amount it is. 10k or not. 10 dollars or not, it is still tracked and logged to your ID. It's even unlikely that you will be allowed to make a €10k exchange or chip purchase at all without providing them extensive KYC documents showing what that money comes from and that you can afford to gamble with it.

3. Banks here will tell you to **** right off if you attempt to deposit cash and claim that it is gambling winnings. The only thing you can do is deposit $1k/week (maximum allowed) and hope they don't start asking questions. So how you even going to get your pile of cash into the bank account?

And if you wonder how the things I'm writing here can be possible and still allow for high stakes gambling in our casinos the answer is that you can not do high stakes gamling in our casinos because handling the money isnt possible. But it also means you cant launder money via it at all.

You can have your “winnings” paid to you in the form of a check, which is then easily deposited to a bank account.

If this is a reply to me and referring to sweden then no you cant get a check from the casino.

If it's referring to the US then it sounds like an awfully easy method for money laundring and I guess every criminal is doing it?

Who cares about Swedenstan? Lol

Sorry, your post looked a lot like a reply to my post even though you didnt quote it. Just like this one of yours does.

genuine lol

hey man, you don't understand money laundering, and that's fine. it's weird you'd argue the point though.

it's not cash>chips>cash again. it's cash>gamble/turnover money>withdraw. you lose % to the house but that's the cost of laundering money. then you tell authorities/your bank what you gambled was a winning. given you are constantly churning money, it's harder for that now legitimate money to trace. that's the whole point. this happens in every jurisdiction, and a little google search reveals it happens often in sweden https://www.vixio.com/insights/gc-sw...ering-failures

i dunno man, i don't care, google is your friend

What do people do with legitimate gambling winnings then?

The topic is live casinos facilitating money laundring, not online gambling sites doing so or having subpar KYC. Turning over money inside the casino will do nothing for you since the money is returned to you in the same format that you entered the casino with the money. Thus no laundring (obfuscating the origin of the monies) took place. You enter with cash you leave with cash.

*You trying to deposit cash into the bank, in the few cases you actually find a bank branch which handles cash here*
Bank: "Where does this cash come from?"
You: "I won it at the casino"
Bank: "Prove it"
You: .... *blank*

When it comes to people consistently making money playing poker at the casino they deposit it $1k/week (maximum in ATM deposit) and/or spend the cash on everything one can spend cash on. You can probably count the number of people in sweden who average more than $4k/month in poker winnings from the casinos here on one hand though (maybe both hands) so it's only an issue if someone doesn't keep up with regular deposits and ends up having a large pile of cash saved up.

sounds like you have completely solved money laundering at casinos then!

Very simplified version of laundering in a casino from Hell or High Water. Dude goes in, buys a bunch of chips, sits at the bar for hours (his brother plays some poker with some of it but it’s irrelevant to the process), he then goes to cash out and has it reduced to a check. Laundered money.

Granted this simplified version may not work in real casinos over an extended amount of time.

How do swedes pay hookers or drug dealers?