1994-04-18 - Re: Laundering money through commodity futures

Header Data

From: Sandy Sandfort <sandfort@crl.com>
To: tim werner <werner@mc.ab.com>
Message Hash: 136366f0aec1ad43f5d02d551c3d1d9e57d96a661b0ddf2d28cdb05455c1260d
Message ID: <Pine.3.87.9404180829.A10557-0100000@crl.crl.com>
Reply To: <199404181312.JAA12251@sparcserver.mc.ab.com>
UTC Datetime: 1994-04-18 15:43:42 UTC
Raw Date: Mon, 18 Apr 94 08:43:42 PDT

Raw message

From: Sandy Sandfort <sandfort@crl.com>
Date: Mon, 18 Apr 94 08:43:42 PDT
To: tim werner <werner@mc.ab.com>
Subject: Re: Laundering money through commodity futures
In-Reply-To: <199404181312.JAA12251@sparcserver.mc.ab.com>
Message-ID: <Pine.3.87.9404180829.A10557-0100000@crl.crl.com>
MIME-Version: 1.0
Content-Type: text/plain


On Mon, 18 Apr 1994, tim werner wrote:

> . . .
> I believe Eric's point was a little off, anyway.  The bank at Monte Carlo
> was broken using exactly the method which he was attempting to discredit.
> A man went to the casino with several suitcases full of money and proceeded
> to play roulette using the progressive betting strategy.  Eventually he
> broke the bank.  That's when casinos started imposing house limits on the
> tables.  I don't think this story is apocryphal.

Actually, I think it is.  In all casinos that I've heard about, the "bank"
is just an amount that each game is allowed to lose in a given period of
time.  If roulette table #1 has a bank of $10,000 and it loses more than
that amount, the bettor has "broken" the bank.  Whoopdeedoo.  Great for 
casino publicity, but not that big a deal for the casino in the overall 
scheme of things.  It is exactly stories like the one you repeat that 
keep the rubes coming back to the tables.

 S a n d y