Originally Posted by BlakeBrown
Ok well say you won the WSOP, and you got your huge stacks of cash... Hypothetically, if you just walked away (this isn't about somebody robbing you) but would it be found out? What if you were like Stuey Ungar, and you admittedly went and blew it on horses how would you prove it?
Well with that amount of money you would be expected to prove you lost it (I.e. betting slips etc.)
You can't walk out of a casino with millions and no W2. It just is NEVER going to happen. The IRS will know 100% of those winnings. Now lets say you take down an online tourney for 20k or say even 100k. You can easily get away with taking those funds out slowly and depositing them in your bank without question.
But when you go to a bank and make a deposit of 10k or more, they have to report it, so keep that in mind!