# Weird question...



## SkyFall (Jun 19, 2012)

I was thinking, it's not real, lets say someone work at the minimum wage but goes to the casino every week and with some super luck cash out $1000 every week by playing ''roulette'' (so no winning receive like slots). After a year that person will have $52 000, and lets say he want to use that money to big something big, will he get in trouble with CRA? I mean, how will he be able to prove the money was coming from the casino.


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## MoneyGal (Apr 24, 2009)

Casinos meticulously track each and every payout. You might not think they do, because the tracking is designed to be as unobtrusive and inconspicuous as possible, but they know to the penny what machines/dealers have paid out and there are multiple cameras on every machine and table. If you legitimately were winning every week at the tables or at the slots, it would be very easy for you to prove this and the casino (in my experience) would support your request. 

Signed: used to have a close relationship with the casino industry.


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## SkyFall (Jun 19, 2012)

MoneyGal said:


> Casinos meticulously track each and every payout. You might not think they do, because the tracking is designed to be as unobtrusive and inconspicuous as possible, but they know to the penny what machines/dealers have paid out and there are multiple cameras on every machine and table. If you legitimately were winning every week at the tables or at the slots, it would be very easy for you to prove this and the casino (in my experience) would support your request.
> 
> Signed: used to have a close relationship with the casino industry.


Oh thanks because I know the casino can track that that's for sure, but the think I was unclear on is will they give you access to their tracking just because the CRA is after you. 

MoneyGal for president!


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## OptsyEagle (Nov 29, 2009)

Because of the odds of that happening are less then a snow ball surviving in a very hot place, they will know two things for sure, once you make that declaration...either you are lying about where the money came from or you are cheating the Casino. 

In any event, I almost feel sorry for criminals these days. It is getting very difficult to live on cash in our society. In my estimate, if your under the table or criminal activities are generating more then $100,000 to $200,000 per year, then our anti-money laundering laws will almost certainly prevent you from enjoying a living standard commensurate with that amount of income. The new electronic international transfers law that the Tories put into effect this year will make it even more difficult to spend the ill-gotten money. 

The exceptions are the really big fish, making millions and millions and billions per year. With that kind of money you can probably buy bankers, law enforcement people, accountants, lawyers, companies and sometimes even small countries...to launder your money.


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## SkyFall (Jun 19, 2012)

Pretty true, I was asking the question because last night I was at the casino and I saw some dudes pilling big stacks of $100 chips and that question came across my mind.


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## Sampson (Apr 3, 2009)

SkyFall said:


> some super luck cash out $1000 every week by playing ''roulette'' (so no winning receive like slots). After a year that person will have $52 000,


Not a smart fella, since they should have doubled down each time and ended up with 2.25x10^18 - what is that anyway, a billion billion dollars? This person's first move should be to buy the government and avoid any CRA fallout.


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## Eclectic12 (Oct 20, 2010)

SkyFall said:


> ... MoneyGal for president!


Don't you mean Prime Minister? :biggrin:

... or were you suggesting a position other than running the country?

Cheers


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## Eclectic12 (Oct 20, 2010)

OptsyEagle said:


> ... In any event, I almost feel sorry for criminals these days. It is getting very difficult to live on cash in our society. In my estimate, if your under the table or criminal activities are generating more then $100,000 to $200,000 per year, then our anti-money laundering laws will almost certainly prevent you from enjoying a living standard commensurate with that amount of income...


It is getting more difficult but at the same time, as long as it's a cash business and there's nothing to draw attention to it - is it really that hard to have phantom customers for haircuts or bump up the number of sandwiches supposed sold to the walk in traffic?


Cheers


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## LifeInsuranceCanada.com (Aug 20, 2012)

Eclectic12 said:


> It is getting more difficult but at the same time, as long as it's a cash business and there's nothing to draw attention to it - is it really that hard to have phantom customers for haircuts or bump up the number of sandwiches supposed sold to the walk in traffic?
> 
> 
> Cheers


Yes. because the CRA asks you for the names of 3 similiar businesses. And I suspect that if you're numbers are out of whack with others, someone's going to start asking questions.

Plus, people in the financial sector are required by law to report you to the gov't if they even suspect that there's something fishy going on - even just suspicious. And they're not allowed to tip you off. Feel better now? .


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## donald (Apr 18, 2011)

Cra(or 'parties hired by the gov)bait and will go undercover[i believe it happened to me].I am almost 100% certain i landed on the radar.I own a construction co(legit)and @ the end of 2011 i sold a house privately(123k profit)and also had a record year in business(30-40% more revenue but before year end reporting and i deposited around 160k in a new non reg acct(rbc)
I had a women call me out of the blue(no referral) and ask if i could do work on several homes(a multiplex and her own home,about 25k worth of work)In 14 yrs of business she was so obviously ''fake" or baiting me(i can read people pretty good because i deal with private homeowners all the time)It was soooo fishy.
She invited me in for a coffee and flat out asked if we could do ''cash'' and she was being goofy about it.
I declined and walked away....never heard from her again and both addresses she gave me(her house and the multiplex since than have never had work done)

Keep in mind a business's supply chain is one reason is it hard to do cash(you have to hide everything and you almost need your suppliers in on it otherwise your going to be obvious!not to mention you need to employ a crooked accountant that will put his/her career on the line to do the creative accountant-cash business are not that easy to set up-----you need a entire network working together on it.


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## marina628 (Dec 14, 2010)

At the casinos in Ontario you only have to show ID when you win over $10,000 so would be tough to prove but once you declared that you are making a living off gambling they may consider you to be a professional Gambler then that can open a new set of tax issues For the record I am a professional , I accept sponsorship money and pay my taxes .


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## Koala (Jan 27, 2012)

I recall hearing a story about the CRA trying to get taxes from casino winnings. If I recall correctly, it was 2 guys and they fought it and won.


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## marina628 (Dec 14, 2010)

Koala said:


> I recall hearing a story about the CRA trying to get taxes from casino winnings. If I recall correctly, it was 2 guys and they fought it and won.


Yes I recall a few years ago that case.I joined a Pro Team Feb 2013 and as it is a European Poker Room they require full accounting to advance the $100,000 Sponsorship money.But you do get to write off the travel expenses to play and other costs.


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## Guban (Jul 5, 2011)

SkyFall said:


> Pretty true, I was asking the question because last night I was at the casino and I saw some dudes pilling big stacks of $100 chips and that question came across my mind.


If you saw them earlier in the night, chances are they would have had bigger stacks of chips!


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## marina628 (Dec 14, 2010)

You need to know when to quit when you go to the casino.If you go in with $1000 and at any time in the night you have close to doubled your money you need to go to the Buffet have a nice snack ,watch some sports and then leave.


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## MoreMiles (Apr 20, 2011)

marina628 said:


> You need to know when to quit when you go to the casino.If you go in with $1000 and at any time in the night you have close to doubled your money you need to go to the Buffet have a nice snack ,watch some sports and then leave.


"close to doubled".... no!

It's the same as walking in, place all your money let's say $1000, and put in on Red on Roulette... you have close to 50/50 chance to double it (ie, 50% - Green Zeros). You can achieve that in less than 30 seconds.

From a statistical point of view, it is one of the best odds... beats a slow death. But is it really fun? If you just want to "close to double" as your goal... that is what you should do instead.

People are there to win the jackpot! Go big or go home... or at least most gamblers think that way.


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## marina628 (Dec 14, 2010)

I am a poker player so I don't think that way.


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## SkyFall (Jun 19, 2012)

well i go there to only play the roulette hehehehe I play the highest odds but sometime we lose


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## Rusty O'Toole (Feb 1, 2012)

I though gambling profits were taxable but gambling losses were not deductible?


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## swoop_ds (Mar 2, 2010)

The casinos aren't there to give out money. For every 'big winner' there are a thousand losers. Also, most big winners tend to blow all of that money back at the casino. The only games that you can make money are:
1. Poker - but the casino collects rake so they're happy
2. Blackjack - if you count cards and play with large sums of money, as you're odds are barely positive
3. Craps - IF you believe in dice-setting, but I'm not convinced


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## donald (Apr 18, 2011)

You Can have odds betting on sports/fights/ponies ect
You have a fighting chance if you study-Home and away records/who is on the roster/who is injured/record vs team in question/who is on a hot streak ect ect
I think of all gambling the sports arena probably offers a fighting chance
I know some guys study the ponies in the same fashion as a investors studies stocks
I have a friend that is into sports select and unbelievably he comes out a head a lot(he studies sports teams like a dividend investors studies dividend stocks)
Sports betting rooms are huge in gambling casinos.If i was to gamble this to me would offer the best ''chance''
There are some rich guys out there right now that bet chicago/boston for the cup.


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