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He was a money launderer. That's how you make money on slots.

You find a near 50/50 bet, eg red or black on a roulette slot. You bet both ways. The payout is, strangely, 100% of stake. $100 on red, $100 on black. You win $200.

Except for the occasional 0, but that is accounted for elsewhere.

It seems strangely futile but, done in in mass numbers, you can clean millions every day. In fact, you can even get an IRS certificate for your winnings.

Fixed Odds Betting terminals (FOBT) are in every betting shop in the UK and are massively popular with drug dealers. Takes 'em about 10 minutes to clean £5k (the shop has to report any transaction over £5k). So they go from having a load of suspicious money to being able to show the police their gambling winnings, "got lucky, didn't I?".

the social misery from gambling is just a by-product of the drug/gambling industry nexus. I'm quite sure it's the same in Las Vegas.

this guy was a money launderer.

keep to the Fen Causeway

by Helen (lareinagal at yahoo dot co dot uk) on Thu Oct 5th, 2017 at 12:37:12 PM EST
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