Question about the WSOP winners...

What happens after the winners are presented with all that money after the tournament? They obviously can't walk out of the casino with a chest of 100's, lol. Do they give those giant stacks of money back to the casino in return for a wire transfer to their bank accounts or something?

Was just watching a re-run and never really thought about it until as a joke the winner started stuffing his pockets with the stacks.

[DHamilton97]

I'm pretty sure you can. Farha walked out after the 03' WSOP with his 1.3 million in cardboard boxes and hopped in a limo lol. Ya'd think if u were gonna put it in a bank or something you'd just get a check ?

Wow Farha really did that? That seems really risky to me, haha. A check would also seem really risky because I would not want that large a sum of money riding on one piece of paper...

Harrington said when he one it he made them write a check

[Quicksilvre]

Chris Moneymaker got (IIRC) $25K cash and the rest in check form. The money is mostly for show.

[lonn19]

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Harrington said when he ONE it he made them write a check

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Don't you mean "won"????

[dlk9s]

I don't know if the procedure is different for the people who win TONS of money, but it looked like they got a receipt of sorts from an official and then took it to the casino's cashier to exchange it for a check.

Those who actually have personal experience with this can correct me if I'm wrong.

[drewjustdrew]

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Wow Farha really did that? That seems really risky to me, haha. A check would also seem really risky because I would not want that large a sum of money riding on one piece of paper...

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Checks have a paper trail. If it's lost, a stop payment can be made for $20 and another issued. It would be very difficult to steal a 7 digit check and endorse it over to yourself without some serious authorization.

[A_Junglen]

Could probably have it wired also.

[bogey]

[ QUOTE ]
I don't know if the procedure is different for the people who win TONS of money, but it looked like they got a receipt of sorts from an official and then took it to the casino's cashier to exchange it for a check.

Those who actually have personal experience with this can correct me if I'm wrong.

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yeh this is pretty much exactly what happens, except they take you to a private part of the cage and just photocopy your drivers license and you have to write down your SS#, with option to take any amount (up to 100% of it) in cash or wired to your bank account