Can You Keep Money Found in a Casino?

Most people dream of finding a suitcase full of cash, but what if that cash was won at a casino? Can you keep the money?

It depends on the casino and the amount of money. Most casinos have a policy that if you win a certain amount of money, they will ask for your identification and Social Security number.

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This is to comply with the IRS and to prevent money laundering. The casino will then issue you a W-2G form, which reports your winnings to the IRS.

PRO TIP:It is important to remember that all casinos have strict rules about found or lost money. If you find a large amount of cash on the floor of a casino, it is important to notify a casino employee immediately. Depending on the circumstances, you may be required to turn over the money and may not be eligible for any kind of reward.

If you win less than $5,000, you can usually keep the money. However, if you win more than $5,000, the casino will withhold taxes from your winnings.

You will need to fill out a tax form when you file your taxes to get the money back.

So, can you keep money found in a casino? It depends on how much you win and which casino you are at.