Do you want to play at the casino, in person, and are you wondering how much money you could win? You are also wondering how much the casino could pay you, in cash, from its own pocket? In this article, we answer these questions that some people may have.
How much can a casino pay in cash?
In France, the law is very strict regarding casinos. Indeed, a land-based casino cannot pay a person more than 1,000 euros in cash. No casino is allowed to exceed this limit... On paper at least. Because it is indeed possible to dispense more cash provided, however, that a TRACFIN declaration is made.
This refers to the French intelligence services. This TRACFIN declaration helps to effectively combat:
money laundering,
the financing of terrorism,
tax, social and customs fraud.
How much can a casino pay in cash to a foreign person?
A non-resident for tax purposes in France can receive more money in cash from the casino. In fact, the law allows for recovering up to 15,000 euros in cash. This money must also go through the preliminary declaration to the authorities.
The obligations of casinos regarding cash payments
In addition to the payment limits imposed, casinos must also keep detailed records of every transaction made in cash. In case of doubt, establishments must report as quickly as possible and provide all documents requested by the authorities.
These limitations and obligations generally prompt casinos to favour other payment options for players. Here are those that are preferred:
the cheque, which allows for the payment of large jackpots, but involves fairly long cashing times
the bank transfer, which allows funds to be received within about 2 to 3 days,
payments split between cheque, cash and bank transfer
What payment methods for online casinos?
Online, casinos do not offer cash payments. It is simply impossible. However, various options are available, such as cryptocurrency (Bitcoin, Ethereum, Ripple, Cardano and other stable coins) as well as e-wallets (Paypal, Neteller). It is also possible to be paid by traditional bank transfer or via a deposit made on your bank card.
In conclusion, regarding cash payments at the casino
Cash is certainly not the preferred option for casinos, at least if you win more than 1,000 euros. Indeed, the law imposes a payment limit and casinos do not really want to bother with obligations. As a result, they prefer other options (notably the cheque), especially for big wins. Don’t hesitate to inquire by going there in person!
