Ten Percenter

A "Ten Percenter" is a frequent patron of casinos and horse/dog racing tracks who will cash your winnings

(if over the $600 taxable limit) for you, putting himself down as the winner, then paying you.

For this service, the Ten Percenter charges you 10%.

That way, you do not have to report the winnings.

This practice is illegal, but it happens. If you are
"connected", you will know who the Ten Percenters are.

Mikey: "I just won 5 g's on the 10 horse !"
Bob: "what's that after taxes ?"
Mikey: "taxes ? I'll giv it to Vin.

He's the Ten Percenter in this joint."

17👍 4👎