If you win a big payday in a live tourney, how do they pay it out?

teepack

teepack

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I know there is some kind of rule about if you win more than $5,000, you have to fill out some kind of tax form, and the casino might even withhold some of the taxes from your winnings. But do they still pay you out in cash? What if you won a tourney and the prize was $15,000, would they give you $15,000 in cash? That seems like that would be kind of dangerous to be walking around with a bunch of $100 bills falling out of your pocket! Although it would be a good problem to have.
 
C

Chemist

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casinos usually deal in cash, even for what appears to amateurs to be ridiculously large amounts.
It is sometimes possible to ask for a cheque, but eyebrows are raised if you do.
 
OzExorcist

OzExorcist

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Smaller wins (which could still be several thousand dollars) are generally paid in cash but it's pretty standard for bigger ones to either be paid by cheque or (more likely) wire transfer. Or they'll be very happy to convert your winnings to cash chips and make them available to you at your table game of choice LOL :p

Depends on where you're playing and what the local regs are obviously.
 
ccocco

ccocco

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I think it depends on the country where win some considerable sum, but in most no one is saved by the hand of the treasury .. has a great arm. jjaja.
 
OzExorcist

OzExorcist

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Some rooms prefer to just block account and begin long and killing procedure of docs check. Or accuse you of cheating. And never unblock. Like well-known pokerroom with three identical numbers in title. That's why it is a big question luck it is or not to win much.

Pretty sure OP was talking about brick and mortar casinos, not online.
 
alittlepoker

alittlepoker

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cash or wire they will escort you to your car but after you leave the property your on your own
 
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rugby0

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I have had no problem . Each time I have ask for a wire transfer the facility has been willing to do this even for amounts less than 5000.00
 
natsgrampy

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A friend of mine won a tournament at the Kennel Club in West Palm Beach Fla and he got $40K in cash and a check for $78K to settle the win
 
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