Can you recommend a bank or credit union?<\/font><\/p>\n\n\n\n It’s an excellent question and probably of general interest. I can\u2019t recommend any such banks or credit unions because that\u2019s not the way I do business.\u00a0 So, I have no relevant banking experience, but I can tell you how I deal with this problem.\u00a0<\/p>\n\n\n\n On a personal basis, I keep a supply of cash in safety-deposit boxes around town and use lines of credit at casinos. This means I forgo some interest on cash, but I avoid having to make many withdrawals. When I hit a “sizeable” jackpot, whether I take cash or check depends on my cash balances in various places. (Banks are always willing to take deposits. It’s frequent withdrawals with which they sometimes get concerned.)\u00a0<\/p>\n\n\n\n If I need some cash and don’t wish to go to a bank, I’ll plan to make a sizeable play at one of the casinos where I have a line of credit. If I take, say, a $20,000 marker, I’ll plan to play $80,000 in coin-in and pay off the marker by check the same day, whether I win or lose. (If I lose more than that, I’ll take another marker.) This will leave me with cash on hand without having to withdraw from a bank. Yes, there’s some variance (meaning sometimes I win and sometimes I lose), but I’m in the gambling business and I’m used to these kinds of swings.\u00a0The game I\u2019ll be playing isn\u2019t going to be terrible and if I do take a bath, that\u2019s the time to ask for a big comp somewhere.\u00a0<\/p>\n\n\n\n I also have money in more than one bank account (at separate banks). So, when those losing streaks occur and I need to withdraw $20K or so but don’t wish to go the line-of-credit route, I’ll withdraw from the bank I haven’t withdrawn from recently. That keeps my withdrawals from being flagged as “frequent.”<\/p>\n\n\n\n Finally, whether it’s in safety-deposit boxes or in a bank account, I have a fairly large position in cash, rather than having the money invested. To me, this is just a cost of doing business.\u00a0<\/p>\n\n\n\n How large is “fairly large” depends on the player, of course. Players who play progressives need larger bankrolls than those who don’t. Players who play $5 machines need larger bankrolls than those who play 25 cent machines. Players who play Triple Double Bonus need larger bankrolls than those who play Jacks or Better.\u00a0<\/p>\n\n\n\n If it comes to it, I also have money invested in the stock market and other places. I can always generate money by selling stocks or bonds. I’d rather not go this route, but it’s a safety net if I need it.<\/p>\n\n\n\n I understand that not every player is able to have such a cash position. I also realize that this column will generate emails accusing me of rubbing it in people\u2019s faces that I have more money than they do. That can\u2019t be helped. If the ideas I share here are useful to you, use them. If not, I apologize if it makes you feel bad and\/or mad at me.<\/p>\n\n\n\n <\/p>\n I recently received an email from a slot director with whom I\u2019m friendly. It read: I\u2019ve had a number of customers ask me what banks in Las Vegas are gambler friendly, meaning they understand how \u201cprofessional gambler\u201d is an actual profession and as such, banks would be used to multiple deposits, withdrawals etc. in varying […]<\/p>\n","protected":false},"author":2,"featured_media":6498,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"spay_email":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false},"categories":[29,2,3],"tags":[428,196],"yoast_head":"\n![\"Facebook\"](\"https:\/\/www.lasvegasadvisor.com\/gambling-with-an-edge\/wp-content\/plugins\/social-media-feather\/synved-social\/image\/social\/regular\/96x96\/facebook.png\" "\\"Follow")
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