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Old 10-25-2007, 07:12 PM
bav bav is offline
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Join Date: Nov 2005
Location: Vegas
Posts: 2,857
Default Re: Question: Cashing Grey Chips at Borgata

That would be an unwise thing to do, regardless whether it happens to work this time. Not sure how it works in AC, but Vegas casinos mostly don't look favorably on such things and someone walking up to a cage trying to cash $5K is likely to face some questioning. If the answer is "a friend paid off his debt to me with this" or "I got a loan from a friend" you may find the chips disappearing and your friend will be facing a legal battle to get 'em back. Further, $10K of cash going in or coming out *MUST* be reported to the Feds...shouldn't be a huge issue, but when the IRS comes knocking on your friend's door asking why there are no gambling profits and losses on his 1040 this year given he had a $10K transaction, he'll likely be naming YOU as the origin of the money.

So whether or not it worked last week, and whether or not it'll work 9 times out of 10, it REALLY REALLY doesn't seem worth it. Hand the guy 100 Franklins.
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