I understand this can be done and it’s for the most part a victimless crime.
Still “Know Your Customer” (KYC) and anti-money laundering (AML) laws that require casinos to monitor for and report suspicious activity. Trying to circumvent these regulations by declaring income from illegal activities as winnings from gambling would be considered fraudulent and could lead to serious legal consequences, including imprisonment and fines.
Or not, because that’s none of my business and I’m happy you have a way to use your hard earned money.
Good point! Don’t do this with amounts larger than $4,999, or more realistically more than $1,000. If you need to deposit more than that in a bank, they all accept cash. This is to be able to accept smaller credit card/debit card/crypto transactions.
Though, is crypto even around anymore? Like the infrastructure, such as it was, for Bitcoin still exists, but is anyone actually using digital currency at this point?