How do tracks and ADW Transfer money among themselves ?
 

We know pools are commingled. Say you hit a 10,000 trifecta at Podunk downs. How do tracks and ADW's distribute money among themselves ?

they settle up within certain time frames, most likely with ach or bankwires

There are two components to the settlement between the bet taker and the pool operator (in most cases a track where the race was run). The bet takers pay a host fee to the pool operator, and then they also compensate for the money room shift in whichever direction it flows. The two figures are added together and paid as one lump sum.

Typically that happens monthly, but if amounts aren't that large they can roll over. There are some tracks that just settle at the end of the meet. Surprisingly much is still done by passing checks through the mail, although there are some pool operators that ACH or wire transfer funds.

And if you do play/hit big through an ADW, unless you have your own loophole, expect to be paying taxes.

Anything over 10K is supposed to be an auto CTR.

Even if they give you a break somehow, if you put a 10K check into the bank it will trigger a CTR and probably a short interview. If you try to avoid that (or just happen to win 9K this week and 2k next week) you will almost certainly get a 'SAR' (only slightly better for your than SARS virus if you think you are tax exempt).

Same thing with a voucher at a simulcast. Supposedly you could juggle a little more there, but I would never advise it.

In just the recent past, W-2Gs have been greatly reduced, but in case you plan on doing some big action play, have a plan.

Just curious, is the C in CTR for cash? So if you're using checks, wires etc why would that trigger anything? Those methods leave a paper trail, I thought the whole idea of needing to be questioned about cash transactions was the reason of no paper trail.

riding on fumes for today, about to cook some shrimp and go to sleep. Can't go in depth.

did realize the search engines mainly show CTR as 'click through rate' (an online advertising acronym)

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CTR = 'currency transaction report'

SAR = 'suspicious activity report'
'structuring' = a guilty until proven innocent crime/accusation used to prevent people from working around the CTR and justify a SAR

this wiki page does a decent job of introducing/covering:
https://en.wikipedia.org/wiki/Bank_S...action_reports

I guess it's not that interesting.

Just wanted to inform / dispel the myth that avoiding taxes was very easy.


I suppose you could juggle multiple vouchers at large enough OTB or Simulcast Track and make small occasional "cash-outs' and keep cash at home or something. Can't draw attention to winning/cashing out frequently, and it's good to tip the tellers a single and be friendly.

I strongly advise you to pay taxes, and that is why I am "clean money". Always follow the rules and understand the tax rules in order to properly pay your taxes.