Especially in reference to casinos?
Edit: since I’ve gotten some answers, I want to add: is it possible to use sports betting to launder as well?
In: Economics
**”How is gambling used to launder money?”**
Its not, mostly
In theory, you walk in to a casino and buy $100,000 of chips with cash
You gamble a few hundred dollars and take $99k of chips to the cash desk and request a cheque for your “winnings”
The casino gives you a cheque AND informs law enforcement you are a criminal
Or
You walk in to a casino and buy 100k of chips, you gamble ALL of them and bank your winnings in a different cups, you are down 100k but up 80k, and get a tax bill on your “winnings”
Or you own the casino and have mules who gamble everything no matter what they win
I “did the maths” once and think I could clean 30% risk free, if you can find a drug dealer who wants me to turn £300k in to £100k send him over 🙂
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