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Vegas Casino Credit

Vegas casino credit allows you to gamble without having to carry a big wad of cash in your wallet. There are three forms of credit you can get at a casino: markers, front money and a Vegas line of credit. Keep in mind that not everyone is eligible for each form of credit and not all casinos offer them. 

Markers

Sometimes referred to as check cashing credit, markers are a casino loan that you can use to play with. They sometimes look like traveler’s checks and you usually have 30 days to pay it back. Markers are basically IOUs written out to the casino.

Front Money

Also known as a deposit account, front money is when you deposit your own money at the casino cage (the cashier). This is akin to opening up a checking account with the casino without having to deal with any fees. You can withdraw the money at any time to play with by signing a marker. Because you’re using your own money, there’s nothing to pay back and you can add money to your deposit account as you see fit.

Vegas line of credit

Similar to a mortgage or a car loan, the casino gives you money and expects it to be paid back within a specified length 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. 

What are the Benefits of Casino Credit?

Opening a Vegas line of credit has several advantages besides not having keep your wallet stocked full of cash.

Benefits of Casino Credit:

  • If you take out a marker and lose, some casinos offer a rebate on the amount you owe (usually about 10%).
  • 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.
  • Casinos don’t charge interest or fees on the money they loan you.
  • A Vegas casino credit allows you to play without having to run to the ATM after depleting your cash reserves. Plus, ATMs have daily withdrawal limits and if you’re a high roller, this could be a problem.

What are the disadvantages of a Vegas line of credit?

Vegas lines of credit do have some disadvantages, especially if you cannot pay back the loan.

Vegas 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.

What is the Best Way to get Casino Credit?

It is common practice to be asked to fill out a credit application before the casino is willing to front you the money. The best way to get casino credit is to apply at the casino (or casino group) you wish to gamble at. 

The application will require the following information:

  • 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)
  • All phone numbers (home, cell, work)
  • Photo ID number and expiration date (driver’s license, passport, etc.)
  • Email address
  • Name of employer (job title, company address, general phone number)
  • Name of bank (plus account and routing number) Applicant’s signature
  • The information above should be filled out online, mailed or faxed to the casino along with the following: 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 your financial institutions that you listed on the application. 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” to establish whether you’re able to pay back your Vegas line of credit.

While getting a Vegas line of credit is convenient, this is not a service 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 collectors and legal hassles. 

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