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."