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Vegas Casino Credit

Vegas casino credit is available in three distinct forms, and each of them allows you to gamble without having to carry a big wad of cash in your wallet. In this article, we’ll examine the credit options available to players, as well as looking at some of the pros and cons.

Three Forms of Vegas Credit

While some casinos may not offer any form of credit to player, it’s not unreasonable to expect one or all of the following to be available:

Markers or Check Cashing

Once you’ve completed the necessary paperwork and been approved, the casino loans you a specific amount of money that can be withdrawn however you see fit during your trip. In most cases, you’ll have 30 days to pay off the loan. If you fail to do so, don’t be surprised when collection agents start calling and criminal charges are filed.

In order to determine whether or not you qualify, the casino contacts your bank to see your account balance for the previous six months or year. If they believe you have more than enough cash in the bank to pay back the markers, then you should have no problem being approved.

Front Money or Deposit Account

The player deposits their own money at the casino cage, which is basically the same as opening up a checking account with the establishment (but without any fees). The player can withdraw any or all of their money by signing a marker. There are no loans to pay back, as you’re playing with your own money the whole time.

Casino Credit

Similar to a mortgage or a car loan, the casino gives you money and expects it to be paid back within a specified amount of time. It’s common for the casino to examine both your bank account and credit history to determine if you’re a suitable candidate.

Advantages of Casino Credit

Opening a line of credit with a casino has several advantages. The following are some of the most notable examples:

Line of Credit Advantages
  • If you take out a marker and lose, some casinos offer a rebate on the amount you owe (10% is common).
  • If you use the same bank account to open lines of credit at multiple casinos, you may be able to draw on all of them at the same time.
  • Casino credit keeps you from having to travel with large amounts of cash.
  • Casinos don’t charge interest on the money they loan you.
  • A line of credit allows a player to avoid getting cash from an ATM. This is especially useful since most banks charge fees for ATM withdrawals and have daily limits in place.

Disadvantages of Casino Credit

The following are some of the negatives involving markers or casino credit:

Line of Credit DisAdvantages
  • In order to be considered for a loan, you’ll need to provide lots of personal details such as your social security and bank account numbers.
  • If an establishment provides you with a loan, they’re going to expect you to play in their casino.
  • Failure to repay your loan can lead to ruined credit and even jail time.
  • Receiving multiple lines of credit from different casinos could be used against you in divorce proceedings or other tricky legal situations.

Sample Credit Application

It is common practice to be asked to fill out a credit application before the casino is willing to front you money. In case you’ve never done this before, I wanted to provide an example of what you can expect.

The information below was taken from a form made available by The Orleans hotel and casino in Las Vegas. All of the following details are required on the application:

Application Details
  • Arrival date
  • Limit requested per trip or 14 days
  • Social security number
  • Date of birth
  • Applicant’s Name
  • Applicant’s Address (including city, state, and zip code)
  • Home and cell phone numbers
  • Photo ID number and expiration date
  • Email address
  • Name of employer (also job title, company address, and phone number)
  • Name of bank (plus account and routing number)
  • Applicant’s signature (as well as current date)

The information above should be mailed or faxed to the casino along with the following: copy of your current driver’s license, additional photo ID, and a voided check.

Once your information has been received, the credit department of the casino will contact the financial institutions that were listed on the application and relate the provided account and routing numbers in order to establish legitimacy. Afterwards, they’ll ask the bank to check your account and share the date it was opened. In addition, they’ll ask whether the average numerical balance is “low,” “medium,” or “high.”

The bottom of the application contains a passage that it worth quoting:

“Warning: For the purposes of Nevada law, a credit instrument is identical to a personal check and may be deposited to a bank or other financial institution on which the credit instrument is drawn. Willfully drawing or passing a credit instrument with the intent to defraud, including knowing that there are insufficient funds in an account upon which it may be drawn, is a crime in the state of Nevada which may result in criminal prosecution in addition to civil proceedings to collect the outstanding debt.”

While Vegas casino credit is convenient, this service is not to be taken lightly. Any money borrowed from the casino must be paid back within the agreed upon amount of time in order to avoid debt collectors and legal hassles. If you’re willing to follow the guidelines, you’ll find it to be a useful service that lets you focus on gambling without constant trips to the ATM.