[vpFREE] Is this someone we're supposed to know?

 
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[vpFREE] Re: Bob Dancer's LVA - 5 AUG 2014

 

I definitely have been missing out if someone has been able to repay markers using a credit card, without the transaction being treated as a cash-equivalent by the issuer and incurring a 3% surcharge.

I'm a little incredulous on this count, but more than willing to be educated.  Care to substantiate this?  I have a card that rewards 3% on hotel charges ... including casino hotels -- fair chance the charge would come from under the same "roof".

- H.



---In vpFREE@yahoogroups.com, <bobappic@...> wrote :

I've used casino markers routinely at several casinos with no problem. ATMs face stiff charges (as someone noted) and often have limits on how much you can withdraw - limits too low for most $ VP players. I carry a small amount in cash, then take a marker for what I expect to need at a given casino - then I pay off the marker before I leave, using a credit card (and thus getting points or miles rather than giving bit ATM charges).

Bob in San Antonio

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RE: [vpFREE] Scot Krause's LVA Players Club Bonus Points Update - 3 AUG 2014

 

Yes:

 

Monday's

Monday Senior Bonus Days!

For our Friends 50 and over

  • 10X Points on Reels/ 5X on Video Poker               
  • Free Entry into $2,500 Video Poker Tournament 11am-7pm (Only 50 points needed)

First place $500 slot dollars (prizes paid thru 35th place).  Winners posted at Noon on Tuesday and have 24 hours to play the slot dollars

  • Free Bingo Blue Pack

 

 

From: vpFREE@yahoogroups.com [mailto:vpFREE@yahoogroups.com]
Sent: Wednesday, August 06, 2014 11:34 AM
To: vpFREE@yahoogroups.com
Subject: RE: [vpFREE] Scot Krause's LVA Players Club Bonus Points Update - 3 AUG 2014

 

 

Scott

Does the Gold Coast still have the senior bonus point promo on Mondays this August?

It is no longer listed in the Play/  casino promotions section on their web page? 

 Perhaps only for locals now?

 

Also looks like sams Town has discontinued the Thursday  senior bonus days for August .

 

Thanks again for your diligence

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Re: [vpFREE] Re: Bob Dancer's LVA - 5 AUG 2014

 

If you can pay the marker off with a Credit Card,
there's 1% plus right there.

Many cash-back cards pay more than 1% even.


On Wednesday, August 6, 2014 2:23 PM, "bob appic bobappic@aol.com [vpFREE]" <vpFREE@yahoogroups.com> wrote:


I've used casino markers routinely at several casinos with no problem.  ATMs face stiff charges (as someone noted) and often have limits on how much you can withdraw - limits too low for most $ VP players.  I carry a small amount in cash, then take a marker for what I expect to need at a given casino - then I pay off the marker before I leave, using a credit card (and thus getting points or miles rather than giving bit ATM charges).  If more cash is needed at the next casino on the trip, I repeat the process there.  If I wind up with too much cash going home, I ask the casino for a check, and deposit it in the bank account I use for only for my bankroll - the same acct I use to pay off the credit card charges when they arrive.  It works for me.

Bob in San Antonio

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[vpFREE] Re: Bob Dancer's LVA - 5 AUG 2014

I've used casino markers routinely at several casinos with no problem. ATMs face stiff charges (as someone noted) and often have limits on how much you can withdraw - limits too low for most $ VP players. I carry a small amount in cash, then take a marker for what I expect to need at a given casino - then I pay off the marker before I leave, using a credit card (and thus getting points or miles rather than giving bit ATM charges). If more cash is needed at the next casino on the trip, I repeat the process there. If I wind up with too much cash going home, I ask the casino for a check, and deposit it in the bank account I use for only for my bankroll - the same acct I use to pay off the credit card charges when they arrive. It works for me.

Bob in San Antonio

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Re: [vpFREE] Re: Bob Dancer's LVA - 5 AUG 2014

 

@VP_Wiz

My experience at the GN in AC is a bit different. My credit card monitoring gave me an alert when I applied for credit there. That is and was the only time it happened and that was when they just took over.

Rich
ACCheapie

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Re: [vpFREE] Bob Dancer's LVA - 5 AUG 2014

 



My experience has been mixed.  More often than not, there's no credit bureau pull.

However, as recently as this April an app for a  credit line at Atlantis in Reno resulted in a TransUnion pull.

I don't sweat CRA pulls.  Yes, each one dings you for 2-4 points.  My scores are strong enough to more than past muster even with half a dozen or so pulls each year against a given CRA.



---In vpFREE@yahoogroups.com, <ehpee@...> wrote :

Every time I have applied for casino credit including casinos outside of Nevada and the U.S. The only thing that they checked was my bank balance via a request from my local bank branch.

As has been mentioned by others, a casino line of credit is basically a glorified check cashing service.

Regards
A.P. 

From: "jaycee5353@... [vpFREE]" <vpFREE@yahoogroups.com>
To: vpFREE <vpFREE@yahoogroups.com>
Sent: Wednesday, August 6, 2014 2:30:52 PM
Subject: Re: [vpFREE] Bob Dancer's LVA - 5 AUG 2014

 
What about local casinos outside of Nevada. If I establish a line of credit at my local casino do they not at the very least get a credit report on me from one of the big three? It would at least involve an inquire and I understand that inquires are used in calculating your credit score.
On Aug 6, 2014, at 1:07 PM, Nordo123@... [vpFREE] <vpFREE@yahoogroups.com> wrote:


As far as I know there is no self reporting "requirement" on multiple credit withdrawals that exceed $10000 in a single day. I just would to show IRS no structuring intent on my part. I guess that is one of the reasons why I don't have casino credit, I don't wish to deal with all these hassles, I would rather have enough cash with me. Thanks Harry for the good advise.

Sent from my iPhone



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Re: [vpFREE] Bob Dancer's LVA - 5 AUG 2014

 

Every time I have applied for casino credit including casinos outside of Nevada and the U.S. The only thing that they checked was my bank balance via a request from my local bank branch.

As has been mentioned by others, a casino line of credit is basically a glorified check cashing service.

Regards
A.P. 

From: "jaycee5353@aol.com [vpFREE]" <vpFREE@yahoogroups.com>
To: vpFREE <vpFREE@yahoogroups.com>
Sent: Wednesday, August 6, 2014 2:30:52 PM
Subject: Re: [vpFREE] Bob Dancer's LVA - 5 AUG 2014

 
What about local casinos outside of Nevada. If I establish a line of credit at my local casino do they not at the very least get a credit report on me from one of the big three? It would at least involve an inquire and I understand that inquires are used in calculating your credit score.
On Aug 6, 2014, at 1:07 PM, Nordo123@aol.com [vpFREE] <vpFREE@yahoogroups.com> wrote:


As far as I know there is no self reporting "requirement" on multiple credit withdrawals that exceed $10000 in a single day. I just would to show IRS no structuring intent on my part. I guess that is one of the reasons why I don't have casino credit, I don't wish to deal with all these hassles, I would rather have enough cash with me. Thanks Harry for the good advise.

Sent from my iPhone



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RE: [vpFREE] Scot Krause's LVA Players Club Bonus Points Update - 3 AUG 2014

 

Scott

Does the Gold Coast still have the senior bonus point promo on Mondays this August?

It is no longer listed in the Play/  casino promotions section on their web page? 

 Perhaps only for locals now?

 

Also looks like sams Town has discontinued the Thursday  senior bonus days for August .

 

Thanks again for your diligence

__._,_.___
Posted by: billvolk11@yahoo.com
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Re: [vpFREE] Bob Dancer's LVA - 5 AUG 2014

 

What about local casinos outside of Nevada. If I establish a line of credit at my local casino do they not at the very least get a credit report on me from one of the big three? It would at least involve an inquire and I understand that inquires are used in calculating your credit score.

On Aug 6, 2014, at 1:07 PM, Nordo123@aol.com [vpFREE] <vpFREE@yahoogroups.com> wrote:


As far as I know there is no self reporting "requirement" on multiple credit withdrawals that exceed $10000 in a single day. I just would to show IRS no structuring intent on my part. I guess that is one of the reasons why I don't have casino credit, I don't wish to deal with all these hassles, I would rather have enough cash with me. Thanks Harry for the good advise.

Sent from my iPhone


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[vpFREE] South Point Promo

 

Husband and I each received $10 dining on both of the days we participated. 

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Re: [vpFREE] Re: Bob Dancer's LVA - 5 AUG 2014

 

As far as I know there is no self reporting "requirement" on multiple credit withdrawals that exceed $10000 in a single day. I just would to show IRS no structuring intent on my part. I guess that is one of the reasons why I don't have casino credit, I don't wish to deal with all these hassles, I would rather have enough cash with me. Thanks Harry for the good advise.

Sent from my iPhone

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Posted by: nordo123@aol.com
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Re: [vpFREE] Re: Bob Dancer's LVA - 5 AUG 2014

 

in reply to Nordo's post (quoted below):  I'm not aware of any self-reporting obligations re transactions that might be viewed as a "structuring" activity.


Making multiple, separate withdrawals at related bank branches, with an aggregate withdrawal amount of $10000 will most certainly result in a Treasury Dept CTR, and possibly an SAR,  Suspicious Activity Report. 

However, Drawing a combined $10000 from credit lines through individual transactions at separate casinos that fall under the $10000 transaction reporting limit is not "structuring" if there was no intent to purposely avoid reporting.  For example, if you take a $8000 marker at one casino, lose $6000, then move on to another casino where you take a $5000 marker and lose another $6000, the transaction doesn't qualify as "structuring".

If the IRS should have cause to monitor your transactions, and the sequence of markers comes to light, exposure of the related gambling activity would clear any concerns. 

As far as paying back a cash marker with a check ... why?  If you're seeking to avoid a CTR for transactions in excess of $10000 cash with the casino, I think you're being overly cautious (unless you do have activity you wish to hide).

Since I sometimes exceed this threshold via marker advances/repayment, cash jackpot payments, credit buyins at the machine and ticket cashouts, I have every reason to believe my activity periodically generates a CTR.  So what ... it's routine reporting that, under normal circumstances, is without consequence.

Prudence suggests avoiding excessive CTR reporting.  So, indeed, if I generate a nice machine win and have a marker outstanding, I'll have them repay the marker.  But I'm not going to write a check to repay a marker if it means I'm going home with a wad of cash.


---In vpFREE@yahoogroups.com, <Nordo123@...> wrote :

I know about ATM's but for me I have only a daily $1300 limit between my 2 banks, not enough for me. When I'm out of town I go to 1 of the banks and take out about $7500. That should cause no problem. I used to work in a bank. I do not go to my other bank or another branch of the bank I withdrew the cash, to take out say $5000. That would be called structuring a currency transaction and could get you in serious trouble with the IRS. In the case where you went to the bank and took out $7500 and then went to a different branch of the same bank and took out $5000 more in the same day, clearly you did such acts to avoid reporting of a currency transaction. This is illegal and should never be done. You could be in very serious trouble. As with casino credit if you take out more than $10000 in credit from one casino that casino will report a currency transaction on you. If you go to a few casino and take out in aggregate more than $10000 you have "structured" a currency transaction and you should report what you did to the IRS. Remember what you did was not illegal and long as you report what you did to the IRS. When paying back a marker or markers use chips or a check(s). When flying on a domestic flight and stopped by airport security answer all questions truthfully and bluntly. Do not make jokes. I myself do not like flying, especially when carrying a lot of cash. Everyone is different however.

Sent from my iPhone

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