Ocean's 11 lied. People DO get away with robberies in Vegas.

[Jadow]

What the guy has to do is:

1. Keep it to himself and tell no-one
2. Get some cash and start playing big time at the tables, cash out the large denomination chips, put them into his pocket and move to another table, then take the stolen chips out of the other pocket and play those. That will "clean" the chips by replacing stolen ones with good ones. Then cash them out and slide an extra one or two in. He may not make the whole 1.5m back as he could lose some at the tables, but that may not be his goal, maybe he just wants to net say 600k, which he could do if he did it slowly over several months.

He can pull this off if he really plays smart and doesn't get greedy. However, it would have been a hell of a lot easier with smaller size chips like 500 dollar chips.

edit - and he should wait at least 45 days to do anything, let it die down a bit.

 

[gorcorps]

What the guy has to do is:

1. Keep it to himself and tell no-one
2. Get some cash and start playing big time at the tables, cash out the large denomination chips, put them into his pocket and move to another table, then take the stolen chips out of the other pocket and play those. That will "clean" the chips by replacing stolen ones with good ones. Then cash them out and slide an extra one or two in. He may not make the whole 1.5m back as he could lose some at the tables, but that may not be his goal, maybe he just wants to net say 600k, which he could do if he did it slowly over several months.

He can pull this off if he really plays smart and doesn't get greedy. However, it would have been a hell of a lot easier with smaller size chips like 500 dollar chips.

edit - and he should wait at least 45 days to do anything, let it die down a bit.

I've highlighted the biggest issue. Generally somebody resorting to crime can't just "get some cash". If they could they wouldn't be risking so much.

 

[spidey07]

What the guy has to do is:

1. Keep it to himself and tell no-one
2. Get some cash and start playing big time at the tables, cash out the large denomination chips, put them into his pocket and move to another table, then take the stolen chips out of the other pocket and play those. That will "clean" the chips by replacing stolen ones with good ones. Then cash them out and slide an extra one or two in. He may not make the whole 1.5m back as he could lose some at the tables, but that may not be his goal, maybe he just wants to net say 600k, which he could do if he did it slowly over several months.

He can pull this off if he really plays smart and doesn't get greedy. However, it would have been a hell of a lot easier with smaller size chips like 500 dollar chips.

edit - and he should wait at least 45 days to do anything, let it die down a bit.

You don't go to a casino or play often do you?

Have you never heard the phrase "PURPLE COMING IN!"
"ORANGE COMING IN!"

A boss has to clear it before it is even in play. 10 orange, coming out! 10 purple going out! 50 large coming in! 50 large going out!

And that's just coming in with 500-1000 dollar chips. Just WTF do you think happens with 10K or 25K chips?

 

[aceO07]

http://www.newscientist.com/article/dn4542-casino-chips-to-carry-rfid-tags.html
... RFID tags would allow the casinos to identify stolen chips without the expensive process of restocking.

From my recent research into passive RFID tags, it seems like they have trouble IDing if you try to scan more than 1 at a time. Also their scan range is a few inches.

If you take a stack of RFID chips out, I doubt the RFID readers would be able to read the data off an individual chip.

edit: It'd be useful if they pre-scanned each stack and then marked it off if they got robbed of particular stacks. If they don't know which stacks are gone, then they'd have issues.

 

[DayLaPaul]

The Bellagio doesn't need to swap out anything. We're talking about ultra high denomination chips that only a handful of people in the world can even cash out without drawing attention to themselves. Unless this motorcycle bandit is Phil Ivey or knows someone like him, he'll be sitting on these chips a long time.

 

[Jadow]

You don't go to a casino or play often do you?

Have you never heard the phrase "PURPLE COMING IN!"
"ORANGE COMING IN!"

A boss has to clear it before it is even in play. 10 orange, coming out! 10 purple going out! 50 large coming in! 50 large going out!

And that's just coming in with 500-1000 dollar chips. Just WTF do you think happens with 10K or 25K chips?

I go to the casino fairly often, but the casinos I go to are smaller indian casinos that don't play in those denominations. I suppose you're right.

 

[Pocatello]

He should had robbed a bank, that's where the money is. He wouldn't get much, but it's real money.

 

[Juked07]

Not a lot. As mentioned they are already ready to go. Just swap them at the tables. You ever see them bring new chips to a table? It takes under 5 minutes to swap them out and the dealer and boss sign the tracking paperwork.

Just send out a few dozen people with all new chips to each pit/area and it's done.

I wonder how much $/min casino's make. If your 5 minute figure is right, the amount of money you can steal where it's not worth it for them to replace them is still probably pretty substantial!

 

[dabuddha]

So, you think it costs $10 to make a $10 chip, $20 to make a $20 chip, and $50 to make a $50 chip? It's still just a bunch of worthless plastic.

No, if you read earlier, someone was saying that they have a batch of replacement chips on hand for situations like this. bleh, if I have to explain it, it's not worth it lol /woosh

 

[CZroe]

RFID was the first thing that came to mind when I heard the story on the radio the other day. They would only need in a few chips, not the whole lot, so I doubt it would be as expensive as people are making it out to be.

 

[bruceb]

And what can he do with those chips ? ? They are only good at the same casino. Maybe sell them for cheap or get someone to use them in small amounts for him.

 

[darkxshade]

Nobody steals from Terry Benedict and gets away from it!

 

[actuarial]

The only way this guy is making money is if a high roller who frequents the Bellagio contracted the guy out. That way cleaning the chips would be MUCH easier and arouse less suspicion.

 

[darkxshade]

The only way this guy is making money is if a high roller who frequents the Bellagio contracted the guy out. That way cleaning the chips would be MUCH easier and arouse less suspicion.

You would have to be a pretty rich high roller to launder 1.5m in chips and if you were that rich, you would have no reason to risk your freedom and your financial wellbeing for such a petty sum.

 

[Raincity]

Nevada Gaming Control Board Regulation 12.070(2)(a) requires that casinos who discontinue use of a certain style of chips or token "for any reason" must continue to accept those chips and tokens for 120 days from the date use was discontinued.



Nope, NGCB Regulation 12.060(2)(c) forces a casino to "Promptly redeem its own chips and tokens from its patrons by cash or check drawn on an account of the licensee" unless "presented by a person who the licensee knows or reasonably should know is not a patron of its gaming establishment". The burden of proof is NOT on the gambler.



Not 100% true. You can't sit down at a table and actively play with off-property chips and tokens but if you go to the cashier or sit down at a table with off-property chips the casino can (and almost all will) change the off-property marks to their own with zero hassle.

You can cite GCB regs untill your blue in the face.

You are going to need to show proof of when and where you become of posession of the table checks for them to be redeemed. Specific table and time of the color up. Casinos do keep logs of checks going out, usually 1K or more. This can easily be verfied if they are indeed from your table game cashout.

 

[OutHouse]

No way they will be able to track down and invalidate that many chips. Not possible. That $1.5M in chips is a free pass to gamble til your heart's desire.

i guarantee you if he walked in and plopped down a 25K chip at the craps table. the pit boss would start making phone calls before the dice got thrown.

PLUS they would be the wrong color scheme. another red flag something is up.

 

[OutHouse]

He can pull this off if he really plays smart and doesn't get greedy.

edit - and he should wait at least 45 days to do anything, let it die down a bit.

lol, no sorry but those chips are worthless no matter how "smart he plays it" or how long he waits.

 

[sactoking]

You can cite GCB regs untill your blue in the face.

You are going to need to show proof of when and where you become of posession of the table checks for them to be redeemed. Specific table and time of the color up. Casinos do keep logs of checks going out, usually 1K or more. This can easily be verfied if they are indeed from your table game cashout.

Feel free to violate state regulation, what do I care, I'm not the one who's going to pay the fine.

 

[OutHouse]

What if I am a gambler and have $10k in chips at home and don't come back for 6 months.

if somebody did that i would point, laugh and call them a retard.

 

[actuarial]

You would have to be a pretty rich high roller to launder 1.5m in chips and if you were that rich, you would have no reason to risk your freedom and your financial wellbeing for such a petty sum.

Unless being a high roller is what caused your poor financial wellbeing.

Guy gambles maniacally with tons of money, even borrowed money, and loses a couple million. Hires some guy to steal the chips (or if desperate enough based on who he may owe money does it himself). He goes back to gambling like a motherfucker with said stolen chips, ideally introducing them slowly.

It probably is just some moron who didn't think the plan through though.

 

[Nebor]

Feel free to violate state regulation, what do I care, I'm not the one who's going to pay the fine.

I doubt you're going to file a complaint with the state gaming commission if you're the guy that stole 1.5M in chips.

 

[sactoking]

I hate to say "I told you so" but, I told you so.

http://www.foxnews.com/us/2010/12/29/apnewsbreak-bellagio-nixing-k-chip-theft/?test=latestnews

LAS VEGAS – Las Vegas casino bosses are serving notice to the bandit who made off with $1.5 million in chips from the Bellagio: Try to redeem those worth $25,000 soon or they'll become worthless.

Bellagio owner MGM Resorts International is giving public notice that it's discontinuing its standard chip valued at $25,000 and calling for all gamblers holding the chips to redeem them by April 22.

After that, gambling regulators say each red chip with a gray inlay won't be worth more than the plastic it's cast from.

MGM Resorts posted notice of the redemption last week in the classifieds of the Las Vegas Review-Journal newspaper. That's one week after a robber wearing a motorcycle helmet held up a craps table at gunpoint and made off with a bag of chips of varying denominations

Huh, who would have thought that a gaming company would be required to adhere to gaming regulations and honor the chip until proper notice had been given? It seems like someone on this board actually researched the issue and quote the regs here for all the non-believers, but I just can't seem to remember who...

 

[spidey07]

I hate to say "I told you so" but, I told you so.

http://www.foxnews.com/us/2010/12/29/apnewsbreak-bellagio-nixing-k-chip-theft/?test=latestnews



Huh, who would have thought that a gaming company would be required to adhere to gaming regulations and honor the chip until proper notice had been given? It seems like someone on this board actually researched the issue and quote the regs here for all the non-believers, but I just can't seem to remember who...

They're just trying to flush out the thief by making him try to cash in the chips.

 

[Raincity]

They're just trying to flush out the thief by making him try to cash in the chips.

No they are following standard procedure to invalidate the cheques. This gives the players who had rat holed the cheques from a previous trip time for redemption. The player or acting agent will still need to provide proof of play for the redemption.

 

[LTC8K6]

Yep, most of the $1.5M value in what the idiot stole were in $25K chips, which will get anyone's attention wherever you try to cash them. Most of the $1.5M he stole was actually worthless the moment he stole it.