Tips To Document Gambling Losses
I don't gamble. Some of my clients who do gamble are facing civil judgments and are concerned about vulnerability of cash in their financial accounts. One such client recently returned from a Las Vegas on a gambling trip and reported that he lost most of the cash he had before the trip. I asked the client how he expected to prove that cash in his account before the trip to Vegas was no longer in his possession and in the possession of Las Vegas casinos.
First this client explained that he had receipts for airfare and several days of hotel bills. Second, he told me that the Las Vegas casinos allow its customers to enroll in clubs or frequent gambler programs. Enrollees receive a card which they can swipe at the gambling tables or at slot machines. The client told me that gambling club members who spend sufficient time at the gambling tables are eligible for upgrades and complimentary services. The gambling card also further documents that the gambler spent sufficient time at the casino be consistent with his claims of money lost. If you plan to go to Las Vegas, Atlantic City, or elsewhere in an attempt to win enough money to pay your creditors, if my client is correct, enrollment in a casino program that documents your gambling activity is a good idea in the event you lose your cash.
posted by Jonathan Alper, asset protection and bankruptcy attorney, Orlando, Florida
