Casino Credit
Most casinos are happy to provide you with a “line of credit” for any amount you wish, as long as you have enough money in your bank back home to cover it. There is no fee for this service, and it can usually be in place within twenty-four hours after filling out the application. There are a few advantages to using lines of credit, but it is not generally advisable for the vast majority of players.
Since there are no charges for setting up a line of credit in a casino, you are further ahead taking advantage of one rather than obtaining a credit card advance. Card advances generally cost you an up-front fee, if obtained at a casino, plus you pay interest on them from day one. Major banks normally provide credit card advances without charging any additional fees themselves, but you still cannot avoid paying the exorbitant interest rates on the total amount advanced.
If you plan to be wagering large sums of money in the casino, it is safer to have a line of credit established. This way you can avoid carrying around a big roll of $100 bills; crowded casinos represent ideal environments for skilled pickpockets. Once your individual credit system is set up, you can sit down at any table and request a “marker” for whatever amount you wish up to your established limit. The marker is just an IOU slip, which you sign when receiving your chips. After you have finished playing, you can pay off your marker before leaving the table, and walk away with just your winnings. If you are mugged on the way to your hotel room, at least you won’t lose your whole bankroll.
Another reason for you “high rollers” to use casino credit involves your taking advantage of more substantial comps. Each time you take or pay off a marker, the transaction is recorded on a central credit information sheet. Knowing the size and frequency of all the playing markers you use helps casino managers more easily determine what your appropriate comps should be.
Keep in mind that using any casino credit system is neither necessary nor advisable for most players. There are five main drawbacks that you should consider carefully before filling out such an application:
1. Asking for markers always draws undue attention to yourself and your play; being more conspicuous, you are apt to be labeled a winner much more readily.
2. After losing a stake, it is all too easy to obtain another stack of chips on credit, and thereby continue playing, against your better judgment and game plan.
3. It is impossible to remain anonymous. Your complete financial history, as well as personal information, is often made known to the casino through your credit application.
4. Having a line of credit tends to limit your play to that particular casino, when much better playing conditions may be available elsewhere. Unless you plan to establish lines of credit in every casino you play, it is seldom worth the effort.
5. There is always the risk of having your whole account “frozen,” including winnings that you may have deposited, if the casino ever suspects you of being a counter (see Ken Uston’s The Big Player).
