(fwd) FC: Fed official wants expiration dates [...] for bills

Brett Knowlton brettk at unica-usa.com
Wed Oct 27 10:46:27 PDT 1999


At 05:10 PM 10/27/99 GMT, you wrote:
>> I get a significant second income from gambling ...
>
>I've often wondered why high-stakes gambling isn't handled more
>like brokerage. Needing cash to play introduces *at least* the
>problems you mention: losing it or getting robbed (by other than
>the cops) are just two others. It would actually be much easier
>for you to show up to a tournament, sign in, and have your wins
>and losses tallied, much in the way chips are used now, but checking
>in and checking out could be done via FedWire rather than pulling
>out a wad of $100s.

Only poker players would play in a tournament. In the blackjack world, at least, you often don't want to give your name, and you don't want the casino to have any more info than they already have. Cash is perfect in these instances.

Of course, if you're just some sucker who doesn't play a winning game, then you will never have a problem.


>This is not to say that I'm in support of expiring cash or cash
>tracking per se, but it's not going to put you "out of business"
>... the houses wouldn't let you go out of business.

The house would love to see card counters go out of business since you make your money from the casino. Professional poker players are another matter since you win money from other players and the casino isn't threatened.


>Unless of course the reason you use cash is that you don't declare
>all your winnings. In which case complaining about it in a public
>forum is, let's say, risky.

Nope. Everything is above board, although I'm sure many gamblers are not quite as honest.

Brett



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