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So my wife invested Php 50k in Casino Junkets through one of her cousins who is quite wealthy and has a couple of restaurants. So far she has received 8% or Php 4,000 per month return. Now I am thinking of investing a little bit more to meet the magic Php 50,000 per month return.

My query is has anyone dabbled in casino Junkets and if so what has your experience been?

Look forward to hearing from you.

Paul

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Paul could you share a little more just want the junkets are an what it means to be an investor?

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Old55

Basically the junket is a money person who invests in High roller gamblers. These gamblers can play up to Php 1m per night and they get flown in from Korea and China mostly with flights, accommodation etc. paid by the junket. The junket takes care of everything and the gambler buys chips from the casino, these are generally called dead chips. 

Now how do you get the money back? When the casino wins (all the time!!) the junket gets around 43% of the winnings and the casino 53%. The 43% is then divided and paid back to the investor. 

My wife cousin was putting Php 250k in but let us have the Php 50k part as a taster. So far, so good. 

You won't find adverts for Junket investors around many places as the people need an IN to the Main Junket holder. You will find a lot of PAGCOR employees dabble at this.

Hope that explains the Junket process.

Paul

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1 hour ago, PaulB said:

Old55

Basically the junket is a money person who invests in High roller gamblers. These gamblers can play up to Php 1m per night and they get flown in from Korea and China mostly with flights, accommodation etc. paid by the junket. The junket takes care of everything and the gambler buys chips from the casino, these are generally called dead chips. 

Now how do you get the money back? When the casino wins (all the time!!) the junket gets around 43% of the winnings and the casino 53%. The 43% is then divided and paid back to the investor. 

My wife cousin was putting Php 250k in but let us have the Php 50k part as a taster. So far, so good. 

You won't find adverts for Junket investors around many places as the people need an IN to the Main Junket holder. You will find a lot of PAGCOR employees dabble at this.

Hope that explains the Junket process.

Paul

Is there any accounting reported back to the investor or you just blindly give p50,000 and then get a monthly check?  How do you know that your small monthly returns are not being funded by new investors? 

Sounds too good to be true......

4000 monthly on a 50k investment is almost 100% annual return without compounding.  Why would small investors be needed?  Junket organizers would already be wealthy and could fund the junkets on their own.

 

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Thanks for sharing Paul I understand now. If you’re “in” with a connected individual I guess the risk is somewhat lower. I agree that it sounds too good to be true but hope it works for you guys.

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9 hours ago, Old55 said:

Paul could you share a little more just want the junkets are an what it means to be an investor?

Since many inquiring minds will want to know, I did a little googling and found this news article that adds to Paul's explanation

https://www.reuters.com/article/us-macau-junkets-factbox/factbox-how-macaus-casino-junket-system-works-idUSTRE79K2DS20111021

The article is a few years old but does seem to give legitimacy to the concept.  Still, I can see how "investing" in casino junkets could quickly turn into gambling in its own right and/or be turned into a MLM scheme

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10 hours ago, PaulB said:

My query is has anyone dabbled in casino Junkets

I have not Paul, but let me opine this. It sounds like an investment, and any investment can go south, its your money so gook luck lolol. I will say this, Don't get involved with a junket outfit that would involve locals. The current administration is death on gambling. Let me explain.

I live within a 30 minute walk (or 45 minute drive :hystery:) from the 4 major tourist casinos here in Manila. The wife and I swing by every couple of weeks for a meal and some fun after shopping. Now we all know that Filipinos love to gamble, and in our area at least the authorities are kraking down on illegal street gambling. With the casinos so close, some local money men pile a bunch of barangay types in vans, take them to one of the casinos and stands with them with a fanny pack of money and a notebook. They are very easy to pick out, they try to dress nice but just do not fit in with the usual Chinese or wealthier Filipino casino goers. I have talked to some of the dealers and they have already been chased out of one of the major casinos. I have also heard, but have no hard evidence, only hearsay that like the Indian money lenders at least one of these guys got shot. And that some of the officials from poorer barangays are looking for these "junket" operators.

Just thought I would throw this into the mix

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We got our 8% a fe days early. That being said I await the next.

 

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Hi, did you get your monthly 8% this May?

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On 4/6/2018 at 12:51 AM, PaulB said:

We got our 8% a fe days early. That being said I await the next.

 

DDraig

I did get the payment. On time and into the bank. I have actually invested more since I started the post.

Paul

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