Posted on 10/07/2017 10:59:03 AM PDT by E. Pluribus Unum
LAS VEGAS — Stephen Paddock was a contradiction: a gambler who took no chances. A man with houses everywhere who did not really live in any of them. Someone who liked the high life of casinos but drove a nondescript minivan and dressed casually, even sloppily, in flip-flops and sweatsuits. He did not use Facebook or Twitter, but spent the past 25 years staring at screens of video poker machines.
Mr. Paddock, a former postal worker and tax auditor, lived an intensely private, unsocial life that exploded into public view on Sunday, when he killed 58 people at a country music festival and then shot himself. But even with nationwide scrutiny on his life, the mystery of who he was has only seemed to deepen.
(Excerpt) Read more at nytimes.com ...
He was laundering cash through the casinos and pretending he was a video poker whiz, but you can't win at video poker, you can only get a payback of about 70%. Walking in with $100,000 of indeterminate origin and walking out with $70,000 of legal 1099'ed gambling earnings is a pretty good deal.
The fakestream presstitutes have studiously avoided following the money. That alone should raise alarm bells. They just say he was a miraculous businessmen. I don't believe in miracles that involve money.
Agreed. It’s not possible to be full time VIDEO poker player and make money doing it
Well, no sharp creases in those puppies...
Weasel McCabe will get right on that.
The FBI has very quiet of late.
I played the 25 cent machines with an original handful of quarters for two days and supplied the kids with all the quarters they needed for the arcade room.
Maybe the cheapo machines pay off better to encourage you to go for the larger money ones.
That’s the way a drug dealer does it. Give free samples of the softer stuff to get them hooked on the harder stuff.
Where did he get all his money?
Seriously.
I know People who have attempted to earn a living gambling and especially playing poker. The best among them has basically broke even after 3 years
I’m not saying it can’t happen, it it is EXTREMELY difficult. The idea that Paddock supported himself this way for years, and indeed, the casinos let him do this, simply beggars belief. It’s a stupid media narrative that is going unchallenged
McCabe is running this, expect nothing but obfuscation. He is a Rat to the bone and should have been dumped like so may others.
How do you launder money by gambling in a casino?
Granted I am no financial whiz, to say the least.
Actually, I did the same thing. I have only been to casinos four or five times. The first few times I did it I played the quarter machines and actually came out a couple hundred dollars ahead. The next time I went I brought a hundred dollars of mad money and lost it all on a $10 machine in fifteen minutes. That was my last visit to a casino.
All the casinos give you cards with magnetic strip that you stick in the machine while you’re playing.
You bring in cash and play the machines and your winnings are recorded on the card. When you leave you bring the card to the cashier and they pay you and issue a 1099 for anything over $600.
It is reported he was comped rooms and food. Sounds like the casinos were his friends.
He also traveled to Dubai. Mandalay Bay - MGM Resorts -
https://www.forbes.com/2007/12/28/mgm-dubai-update-markets-equity-cx_ml_1228markets15.html
09/07/17
Istithmar World Capital PJSC
Director
5,200,000 Disposition at $34.01 per share
http://quotes.wsj.com/MGM/company-people
http://www.istithmarworld.com/index/index.php?option=com_content&view=article&id=80&Itemid=217
Does that mean you could win less than $600 at one casino and then move on to the next one? Do the casinos track regular gamblers and start giving them 1099’s once they clear $600 for the year? It seems like if you do it right, you could launder big bucks if you are careful about how you play.
First of all...he's making money illegally. Secondly, it's probably money laundering (which is big bidness).
Since he had a ton of money, suicide is a low probability.
Was he the shooter? Was he a patsy? Was he set up?
Who knows. But guys with a lot of money they "earned" don't commit suicide. They first use their money to seek an answer to their pain.
Drugs, women, alcohol.
So, what, can't he walk where he wants? Between her and the Mrs. Kravitz lady, he had some weird neighbors.
If the paint easel was Marilou's then she didn't pack all her stuff and leave like the neighbor's say.
Ok, we can see where the feds are leading us. He had a medical problem. That brain tumor the brother said off the cuff or mental problems passed on from his dad's DNA.
You are correct. There are some “full pay” VP machines that you can show a profit over the long run, but every hand has to be played perfectly, and you won’t find the FP VP machines on anything but quarter machines where the max you can bet on one hand is $1.25. The higher stakes machines have a lower payout percentage, although much higher than the the 70% someone posted. The machines that Paddock played paid out at about 97% with perfect play. Basically he was being charged a 3% fee to have his money laundered. Plus he got lots of comps.
yup
either a deep state operator or involved with the mob
“Agreed. It’s not possible to be full time VIDEO poker player and make money doing it”
10 /15 years ago I watched one of my sons win (1000s)consistently..on his computer..which may or may not explain why this particular offspring never asked for monetary help all the way thru his PhD..Today he no longer gambles except the stock market....
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