Casinos and Gaming

Bookmakers, horseracing, and lotteries all are cash intensive, and offer a potential source of recently acquired wealth.

Casino money laundering is usually at the placement stage, converting cash into cheques. The cash is used to buy chips, and then the chips can be converted into a cheque drawn on the casino’s account. The credit can also be transferred to a different jurisdiction where the casino operates, and the funds can be made available there.

One method of gambling is to bet in such as way as to risk very little of your capital (e.g. by betting on favourites). The winnings can then be withdrawn and are the verifiable winnings from gaming.

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