I apologize if this question has been asked before, or is just a stupid question.

Anyhow, my question is regarding cashing out large sums ($100k+) from a poker site. I would appreciate replies from people who have experience cashing out large amounts.

1) Did you alert the bank that you'd be receiving a large transfer prior to cashing it out?
2) Did the banks contact you after you received the large transfer to ask questions about it? If so, what questions were they? And, did you tell them it was from a poker site?
3) Has a bank ever rejected a large transfer from a poker site?

Or if you don't know the answers to those questions, if you could shed light on how you've cashed out 6 figures at once, step by step, that'd be nice.

My previous method of cashing out would be to do multiple cashouts of anywhere between $2,000 and $4,000. I'd like to know how easy it is to cash out large amounts (>$100k) since the FTOPs events are coming up and it'd take a while to cashout $200,000 2k or 4k at a time.

Thanks in advance for all serious replies.

Mods- if this is in the wrong place, I apologize, please move it to the right place.

So you have not yet won the 100s of Ks? You may wanna try concentrating on that first

But seriously i dunno, GL though!

Thanks for your reply. Unfortunately you misread the part about serious replies only.

I have won $103k in a tournament, but was staked during it so only had to cashout ~50k, which I had no problem doing 2k-4k at a time. Lets not derail this thread with nonsense posts like yours.

Yeah was def expecting a brag in here!

OP, it's a reasonable question but it's not difficult enough to worry about or affect your decision to play ftops.

you might get more replies if you put this in multi-table tournament community instead of HSMTT this is a strategy forum

Do you know from experience? Have you cashed out 6 figures at once? If so, please elaborate, if not how do you know its not difficult?

Call me crazy, But I like to know what will happen if I do win before I go out and win. I wouldn't want to win, then find out it'll be a hassle to cashout, hence the intended purpose of this thread.

If I get the answers I'm looking for and end up playing, I promise to bump this thread and turn it into a brag thread if I FT something.

Ok dude chill, I was just pointing out that imo it is more +Ev to worry about cashing it out after you have won it, is that ok?

Congrats on your nice score!

+1

http://forumserver.twoplustwo.com/28/internet-poker/

think this is your best bet, mtt players are poor

I apologize. I posted it here because I figured I'd get some serious/helpful replies, rather than posting in MTTc where people tend to derail topics.

Mods- please move to MTTc.

Thanks sketchy.

Don't publicly discuss this stuff ffs.

seems like a simple question to me, why not publicly discuss it? It's probably a question that many people are wondering.

If someone doesn't want to discuss the answer in the thread, seems that somebody who knows the answer could PM the OP if they do not want to share the process publicly.

because this gets IRS attention

Forgive my ignorance, but why would somebody not want to discuss this publicly?

Thats actually what I was wondering myself, Todd Terry himself stated that it should not be discussed publicly.

just click the cashout button and pray. That's what i'd do

For wire transfers over $150K most American banks will charge around 3.50 points to complete the transaction.

Hope this helps.

Thanks NSB, that's good to know.

documents on file... bankwire cashout... rub tits