How do you guys deal with the physical cash management of higher stakes live?
Recently started getting into mid and higher stakes poker. 2/5 (sometimes 2/5/10), 5/5/10, 5/10/25 etc. At 2/5 I could just barely justify going in and out of the casino with just the cash in my pocket but at 5/10 and above that's no longer realistic. 5/10/25 I'm walking in with $5k or more and had multiple times leaving with $10k+ without even sun-running. I can imagine a situation in the near future where I'm leaving the casino at 2am in big city with $20k+ in my pocket....not ideal. I saw from Limon post a long time ago that casinos offer a "player bank"? What is that and how to set it up? And question for users here:
1. What would you do to manage high stakes cash at your local casino where you're a reg? The player bank option? I also see people chipping up to like $5k+ chips and then just keeping them on their person when they "cash out" at the night but I'd be kind of paranoid of the chips getting changed out or somehow invalidated or still getting robbed by someone who knew what it was worth.
2. Same as above but how would you manage it when you travel to Vegas? just play lower stakes or still set up a player bank even where you aren't a reg? Honestly in vegas I'd feel more comfortable because a lot of degenerate gamblers walk around with that kind of cash on them and security is better.
21 Replies
Play lower, but have def. carried 20k around more often than you'd expect. And infinitely more than before I played poker.
A lot of (all?) casinos near me used to (before covid) offer the option of having a box (like a security deposit box at a bank, except it's almost entirely for money). I think all of them have stopped now. To be fair it was basically free, when I had one.
Higher denomination chips are maybe more recoverable than $100 bills, but it's difficult to say how much.
You can setup a bank transfer and wire some casinos money, and they'll then wire it back to you when you finish ... AIUI this is only for "large" amounts and I don't know the costs/rules. Also makes going to the cage a lot longer, when I've seen people do it (like having a box would be 1.5x to 2x slower than cash, but withdrawing money from a wire was more like 10x -- from observation).
Apart from that, everyone just kind of gets used to it, I guess ... with the occasional story of someone "losing" 10-50k.
Play lower, but have def. carried 20k around more often than you'd expect. And infinitely more than before I played poker.A lot of (all?) casinos near me used to (before covid) offer the option of having a box (like a security deposit box at a bank, except it's almost entirely for money). I think all of them have stopped now. To be fair it was basically free, when I had one.Hig
Playing lower seems like a rake trap. The rake is already more reasonable at 2/5 and I would say "low" at 5/10 above to the point where it doesn't impact your winrate. Haha man your response is exactly what I was worried about but there has to be better solution than carrying cash. Wire transfers in/out of the casino every time I play seem like it would be such a hassle.
You may be able to request a cashout via check. It may be different at each casino though. You can reach out to the casino before your trip and inquire.
I'd say:
- Use a cage to store chips at your local
- If not using the cage, colour up to large denomination chips when leaving the poker room
- Use a local bank branch to withdraw and deposit if possible when travelling
- Be smart and aware when taking racks of chips to the cage
- When commuting from a casino in uber or taxi and the driver asks you if you won, reply "no, not my night unfortunately."
Yeah, so this is partly why poker is such an impractical profession lol.No matter what you do, you'll have to keep a stupid amount of assets liquid instead of building interest, and you're gonna have all sorts of extra sources of rake: transaction fees, extra people you end up tipping, getting burned by another reg, or honestly just having a pumpkin slip through a hole in your
This is an awesome and super detailed response. A good deposit strategy and upping my ATM withdrawal limits is something I'll need to look into but at least the casino lockbox might get me started in the short term.
I'd say:
- Use a cage to store chips at your local
- If not using the cage, colour up to large denomination chips when leaving the poker room
- Use a local bank branch to withdraw and deposit if possible when travelling
- Be smart and aware when taking racks of chips to the cage
- When commuting from a casino in uber or taxi and the driver asks you if you won, reply "no, not my night unfortunately."
I don't think I'd ever play 5/10/25 and then Uber with like a suitcase full of $20k lol I'd rather walk home honestly.
you can fit 10k in your pocket
having said that - i typically wear a blazer or some kind of jacket with inner pockets is amazing for discreet and safe cash transportation - it's front and center so pick pocketing is much harder and you don't run the risk of things falling out of your pockets when you sit
in fact, all blazer pockets are superior for casino stuff anyway because they go top down which makes things falling out accidentally damn nigh impossible whereas most casual jackets have slanted pockets where it's easy for things to slide out unless it is zipped
other alternative is wearing a fanny pack
I don't think I'd ever play 5/10/25 and then Uber with like a suitcase full of $20k lol I'd rather walk home honestly.
I like the idea of walking home with a suitcase full of cash, so long as the wheels on it don't break.
if theres one thing this forum doesnt have to worry about
Color up your chips and ask security to walk you to your car.
Like I mentioned above even when I've cashed out 10k in 5/10/25 it's a noticeable bulge in my front jacket pocket. It does look very obvious and yeah I'm guessing a lot of posters don't play high enough to realize it's a big issue lol as submersible mentioned. But def appreciate your feedback RaiseAnnounced.
Just contact the casino about storing money there, bank wires, etc. I use to play live 5/10 a 10/25 a couple times - never really had an issue carrying cash as 10k or less isn't that much physical cash. If you're playing with say 50k then yeh you wouldn't want to go cash I'd imagine.
I dont find it especially hard to keep 15-20k in my pocket in a bag. I might have issues after that, but ill cross that bridge when I get there. Obviously people use backpacks and/or 1k chips.
In vegas, i just stay at the casino I want to play at, keep most of BR in the safe in the room, if i need more cash i go upstairs.
Also: cargo shorts. Or even better, shorts with a zipper on a secondary pocket. Or a shirt with a pocket, like a button down. Any of those you arent getting pick pocketed.
As far as not getting jumped: youre fine in the casino, so its the parking lot thats the problem. the elevator is your friend. Make sure nobody gets into and then out of the elevator with you who might have seen you cash out. Its as simple as just skipping an elevator ride, and if its not busy, trying to get your own elevator. I also let everyone else out of the elevator first, and meander while keeping an eye on the people who got off to make sure they are headed directly for their car and not waiting on me.
Heres a fun article I read by one of the greatest blackjack players of all time about getting thru the airport: https://www.lasvegasadvisor.com/gambling...
Ive never left the casino with more than $1000 unless im driving directly to another destination to either deposit the money or pay someone... Ive played high stakes poker for 27 years and never robbed. Ive known a dozen who have been robbed all were sloppy, lazy and /or flashy with cash.
I've lived in big cities my whole life but only recently got into poker. I'm not ignorant of the basics but yeah you bring up some good points. And lately walking around with way too much cash on a weekly basis has me singing these great lyrics to myself:
At the gamblin' spot and your hand is mad hot
Got, this is how you get got
Out in Brooklyn late night flashing all of your rocks
Got, this is how you get got
Not sure how much sub reads, but he only posts once a week or two now ... so a part of me has to appreciate him popping in this thread just to roast everyone.
No punctuation, or capital letters, just pure burn.
It's a non-trivial risk. I worked at a casino and know of 2 jackpot hitters who were robbed. One was murdered. I also know someone who was burglarized. (Not Sklansky)
I've considered carrying a weapon but I don't want to kill anyone nor escalate the situation and be killed or wounded when someone responds in kind.
Day to day, obviously keep a low profile. Don't wear expensive stuff. Don't flash your roll. Don't brag. Lots of dudes with their watches worth more than my car and cars worth as much as my condo AND the same 10K plus in cash are better targets than me and they want everyone to know about what ballers they are.
You can use your eyes and feet pretty well. You can hit the BR. Probably should wash your hands after handling chips and cash anyway. See if anyone seems to be following before you go in. When you exit, have another look around. It is pretty hard for someone to indiscreetly follow you when you do this.
As you exit the casino, be sure either a lot of people are around you or none are. If a sketchy looking person is never within 100 yards of you, it's pretty hard for them to rob you. If you're half way to your car and someone comes anywhere near you, pick up the pace. If they do the same, sprint.
In extreme cases, like you win some jackpot and everyone sees, make several U-turns on your way home. Exit and re-enter the freway and so on. You could argue for trying to get close to some police as well, but civil forfeiture is also a concern. Also, in these cases, you should be able to get security to walk you to your car and make their day with a nice tip.
It's arguably more important to be very careful about who knows where you live and who knows what you do for a living. A home invasion is probably worse than getting mugged at a casino. Only my inner circle (most of whom have more money than me anyway) know where I live. Even $5k is a ton of money to some people. Be careful about things like house cleaners and short term sexual partners. All they have to do is mention to the wrong person that they know a professional poker player.
The two threads you started should be merged by a moderator. The other one is here:
This is 100 % NOT related to playing poker, but trusting what to do with your hard earned money from your business and NOT trusting the local banking system.
It was my 3rd month working patrol for a city in Southern California. I was working swing shift 3-11 pm for contract city. We received a report of a “beer run” around 5 minutes after the liquor store closed.
My FTO and I arrived and could see 3-4 kids running out the front with 3-4 12 packs of beer.
Chased em to the alley behind the store and caught them on the fire route stairs leading to the roof. It was 2 boys 1 girl teenagers.
Stopped them, recovered the 12 packs and waited for their families to show up.
The store owner also had shown up but he wasn’t worried about the 12 packs. He was worried where he kept his $75000 in cash from his cashier till.
He kept his daily balance in a till underneath the front counter where they had sold candy.
Once it was all accounted for, he realized he did not want to prosecute for a few 12 packs of beer.
Said he did not trust the American Banking System and rather allow his till with thousands of dollars be hidden underneath cabinets that showed his chewing gum. TRUE STORY!
Finally, one store owner was robbed by a security guard family friend, who was wearing a commercial ankle bracelet outside of his bank. The friend, who knew both brothers and where they made their weekly deposits robbed his employer thinking it was for insurance, got robbed for $150k from a totally different gang that one of the brothers set up against their business.
People: put your $ in a US Certified Bank with FDIC Insurance and STOP mucking around with the get rich quick gangsters
Finally, one store owner was robbed by a security guard family friend, who was wearing a commercial ankle bracelet outside of his bank. The friend, who knew both brothers and where they made their weekly deposits robbed his employer thinking it was for insurance, got robbed for $150k from a totally different gang that one of the brothers set up against their business.People: p
I cannot parse this story at all.
