How to properly launder money in a Casino?

[timmey]

Let's say you want to launder some money through a Casino.
Which strategy would you use to launder the maximum amount of money in your pocket, so only the smallest bit gets lost?
You have to bet with all your money, simple "buy jetons at the entrace, sell jetons at the exit" is not allowed. Gambling Options are Roulette, Black Jack and Poker. I'm sure there are some professional players on this forum!

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[Roland68]

Play roulette ...bet on colors,  play red AND black at the same time ... put a small bet on zero (just in case ...)

not shure the casino accept this ...

[timmey]

play red AND black at the same time

that would mean 50% loss.

not shure the casino accept this ...

i think they do accept it because it's guaranteed win for them.

there must be some better way.

[evanbrowne94]

play red AND black at the same time

that would mean 50% loss.

It does not, maybe you lose 50% of your chips, but you gat them back for winning on the other color

[Roland68]

play red AND black at the same time

that would mean 50% loss.

It does not, maybe you lose 50% of your chips, but you gat them back for winning on the other color

Thanks ...seem that some people don't play often ...

it is usual during quiet time to play both color at once to make the game "rolling" ...the only cost on french roulette is 1/70 of your bet for the zero insurance ...

[timmey]

It does not, maybe you lose 50% of your chips, but you gat them back for winning on the other color

whoops, my bad sorry. Not sure why i forgot about the other color tho.

the only cost on french roulette is 1/70 of your bet for the zero insurance ...

1/70 sounds like a good price for laundering 

[Dargo]

The best Casino odds:

http://casinogambling.about.com/od/oddsandends/tp/10best.htm

[Raoul Duke]

That's guaranteed loss. lol Just invest in a real business, dude

[timmey]

That's guaranteed loss. lol Just invest in a real business, dude

Lol, I do real business. This thread is to discuss the theory only! (and to kill some time, due to newbie restrictions)

[hamburger]

Play roulette ...bet on colors,  play red AND black at the same time ... put a small bet on zero (just in case ...)

not shure the casino accept this ...

Start the first round - $50 Black

If black win; second round - $50 Black
If black loose; second round - $100 Black

If black win; third round - $50 Black
If black loose; third round - $150 Black

Repeat

[Atdhe]

PM me
but have a valid reason

Beware, I will not advise you to scam anyone except government

[enmaku]

You might attract unwanted attention at the table games. Slots can have their odds trivially manipulated and usually have the worst payout percentages in the house. Video poker games, on the other hand, can be very low-loss depending on the game itself and the strategy you play - Jacks or Better can be up to 99.6% payback if you play the right odds. The casinos will also notice if your coin in (i.e. the number of credits bet) is less than your cash in (actual money inserted) so sticking $100 in a game and then cashing out a $100 voucher without play might turn some heads. Realistically you will want your coin in to be at least twice your cash in, so if you put $100 in a game that costs $1 per hand, you'll want to play at least 200 hands before cashing out. Over a long enough run you'll still lose under 1% of whatever you put in since you only subject each dollar to an average 0.4% loss twice before cashing out.

Of course that'd only work if you have a LOT of money to launder since the 99.6% odds include all the royal flushes, aces with and without kickers, etc. that you could possibly hit and some of those hands are absurd odds. Realistically the table games are a better bet for laundering small amounts but you'd have a higher chance of getting caught.

Of course as someone who lives in Las Vegas, works in the gaming (casino) industry, and holds gaming licenses in well over a dozen states I feel comfortable giving you the above information because I can also give you this word of warning: Casinos are in business because they are better at math than you. They gather data on EVERYTHING, run reports on EVERYTHING and perform absurd accounting on EVERYTHING. I maintain the databases that WILL catch you if you attempt any of the above and of course must inform you that money laundering in any form is illegal. Should you choose to do something illegal, at least be smart about it and pick some place less likely to catch you than a casino.

[CryptoCommodity]

I am not sure what you mean by launder money.  If you are looking to do something like turn free play or "promo chips" into real money then this is what you want to read, http://www.beyondcounting.com/pdfs/beyondcouponsbjfo.pdf, it is written by James Grosjean a Harvard educated advantage player and author of two of the best gambling books you will never read.

Out of the choices you presented Blackjack is the best with an expected return of up to 99.32%.  Compare this to playing black or red in roulette which has an expected return of 94.74%.  

If you want a gauranteed return then try to play Banker and Player on Baccarat and you will have a return of over 97% with no variance.

I don't agree with enmaku about the ability of casinos to do math.  Casinos make huge errors all the time, mostly in their marketing departments.  

Sometimes casinos just plan on giving players a small edge to get them in the doors.  For example, the Southpoint casino in Las Vegas offers Video Poker that is over 101% return at all times, and sometimes as much as 102%.  If you play 10000 coin in they will send you 30 per week the following month in free play.  Each coin in also converts to 1 point on your players club card and each 1000 points is convertible to $3 in free play.

Playing 9/6 JoB the math looks like this.

$10000 coin in * .99543904 expected return = $9954.39
$120 in weekly free play * .99543904 expected return = $119.45
$30 in points converted to free play * .99543904 expected return = $29.86

So theoretically your expectation on $10000 coin in is a return of $10103.70 or 101.037%

They also offer 2x or 3x points on holidays.

There are much more lucrative offers at times but this is just an example of why there are full time advantage players in Las Vegas

[nmat]

On a completely unrelated note, but related to OP's signature: porn! That's a business that might want to start accepting bitcoins. And if they do, bitcoins will have its future guaranteed. The porn industry rules the world  

I don't know how I didn't think of it before...

[HamishAlexander]

Play roulette ...bet on colors,  play red AND black at the same time ... put a small bet on zero (just in case ...)

not shure the casino accept this ...

Start the first round - $50 Black

If black win; second round - $50 Black
If black loose; second round - $100 Black

If black win; third round - $50 Black
If black loose; third round - $150 Black

Repeat

Most casinos have maximum bet limit, so after 4-5 bet doubling you can't raise bet anymore. Anyway, even without restrictions, it's the same as normal playing in the long run, eventually you will lose after 7-8 times black in the row, and you will lose really much.

[CryptoCommodity]

Google Martingale

[Atdhe]

On a completely unrelated note, but related to OP's signature: porn! That's a business that might want to start accepting bitcoins. And if they do, bitcoins will have its future guaranteed. The porn industry rules the world  

I don't know how I didn't think of it before...

porn ruled the world (paid porn)
their income dropped to nothing as internet is full of free porn

but yes, it can help, at least with child porn and fun like that, there is still some money 

[6P0rnMast3r]

i doubt you should launder money in a Casino. if you do it often, the police won´t believe you win all the time you gamble and if you do it just once with a very high win, they might check the video tapes, where they see you already came in with lot of cash.

nowadays money laundering works like the big crime organizations do it like the mafia. they own a lot of businesses that usually get paid in cash and they report a little more income to the IRS than they actually had.