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High Stakes Tables Attract a Lot of Students and Housewives

In a recent casino audit, it was found that most of the casinos high roller revenue has been coming in from an abnormally large portion of both students and housewives. The audit initially took place to try and rid casinos of any money laundering through organised crime efforts. The fact that most students and housewives are funding the high stakes tables left British Columbia’s attorney general quite bewildered. Which leaves everyone to question where are is all of BC’s casino funding really coming from?

High Stakes Australia

High Stakes Casino Audit

Richmond’s River Rock Casino had a year’s worth of their financial transactions audited. Gaming officials conducted the audit with the hopes of identifying new patterns that could possibly give off hints of money laundering through organised crime.

Although, the auditors did not find what they were looking for, they did find the interesting statistic of high stakes gamblers and their occupations.

Housewives – High Stakes Gamblers

It was recorded in 2015, that housewives spent around CA$14 million in bets. These numbers are somewhat unusual as both students and housewives are suggested to be people that do not have any source of income. Despite their lack of income, these two groups of people seem to be bringing in a large portion of the casino’s revenue on a daily basis.

When it comes to students, it has been reported that throughout the year the casino has seen around 36 of them come in and play at the high stakes tables. If that wasn’t enough to shock you, this will, the students bet a sum total of a staggering CA$2.3 million, with one individual student placing a wager of CA$819 000.

Money Laundering

Due to the dramatic increase in money laundering cases taking place at casinos within British Columbia, there has been a need for new anti-money laundering measures to be put into place. With new measures needing to be put into place, it has led to the introduction of new combative policies in Vancouver. These policies have been specifically designed to stop the transfer of money through resorts.

Similarly, to that of American casinos, BC Casinos will now have to follow directives set out by FinCEN. These directives stipulate that players depositing huge sums of cash or bonds will need to submit a source of funds declaration.

In this case, players will need to have on them both, bank account details as well as legitimate identification. Thereafter, if the player continues to repeat deposits of large amounts, then casino operators will be required to look further into the case and verify that the funds are not being used in a nature that is suspicious. Operators must be able to confirm that the money is not being used for suspicious activity before that are able to accept the money of the patron.