Tournament winnings in cash or check

[betgo]

I recently won a tournament for $20K. They asked me if I wanted cash or check. I had never cashed for this much before, but was a little suprised by being offered the option of a check. Is that normal above a certain amount. If you take a check, there is more record, but I assume the casino files some form reporting the cash too. If you won over $100K, I assume they allow you to take it in cash too. Are there problems with getting a six figure sum in cash. I assume there is no problem depositing a large check from a casino.

[johnnyrocket]

i have no idea cuz i dont play large donkaments but curious to see the answer

I had no problem cashing my $42,882 check from a casino.

[chauchmeyer]

You really have an option any way you like it. I prefer cash and check, but that's really up to you. Their check is ofcourse as good as cash and it's your burden to do your own taxes. You'll be reported no matter what.

[MaverickUSC]

Chips! God bless the MGM properties... buy in with chips, get paid in chips, no W2-G baby!

After my first big cash I got it in cash. I had no idea what do do with 2-3 pounds of cash. I put it all in a manila envelope and wandered around aimlessly until I could find a box to put it into.

It's fun to throw bricks at your friends. They can do some damage.

Devo

Devo

[ace_in_the_hole]

Yeah, getting paid in casino chips is the ship. holla.

[THAY3R]

[ QUOTE ]
Chips! God bless the MGM properties... buy in with chips, get paid in chips, no W2-G baby!


[/ QUOTE ]

This doesn't sound right...

[homedog]

My experience is you can do cash, chips or check but it makes no difference since they still do the WG2 if it's over a certain amount.

[IvanXDurham]

[ QUOTE ]
I had no idea what do do with 2-3 pounds of cash.

[/ QUOTE ]

*sigh* .......one day.

[TStoneMBD]

its true that if you win a tourney at bellagio, at least their daily 1080 they pay you in chips and you dont have to sign a w2, even if you win 6 digits.