What Is Casino Credit?
Casino credit is a line of credit that players can access for use at casino table games
and slot machines. Generally, this type of credit is provided by the casinos in
exchange for a deposit of cash or chips into the player’s account online betting singapore. A credit
department may require the player to sign an application that will include some
personal and financial information in order to establish a credit limit. The credit limit
is usually based on the average amount of available cash in the player’s checking
A line of credit at a casino may seem like a good idea for players who have money
problems. After all instant withdrawal online casino Singapore, a casino can provide them with a large sum of cash at 0%
interest that will help get them through a temporary money problem. However,
using credit at a casino isn’t something to be taken lightly. It is very easy for these
lines of credit to become major disadvantages for problem gamblers.
Marker action is the name of the game for casino credit at most Las Vegas casinos.
This credit line is mainly for high rollers who bet big and lose big, then pay off the
host casino even though they get a markdown on their losses. However, it is also
used by players who prefer to play against credits rather than carrying around cash
or who exceed the daily ATM limits imposed by their banks.
Typically, a casino will require the player to fill out an application before granting
them a credit line. This will ask for some personal and financial information such as
bank account balances, assets, income and debts. This information is then compiled
into a credit profile by the casino’s credit department. In most cases, a credit check
will be pulled by Experian, TransUnion or Equifax to see the player’s overall
creditworthiness. The casino then checks the credit profile of the player and his
checking account history with Central Credit, an organization that provides a credit
clearinghouse for the gaming industry.
After a credit check is completed the player will be issued markers for up to his
credit limit. These can be exchanged for cash or slot vouchers at the casino cage
and then used to place bets at any of the table games. Markers are repaid to the
casino at the end of the gambling session or when he decides he is done playing. If a
marker isn’t repaid the casino will send the player a letter and will take further legal
action to recover the funds.
Credit at a casino isn’t always easy to obtain, and the terms of the line of credit are
very strict. However, for players with the proper financial savvy and discipline, a
casino credit line can be extremely helpful. Just remember that it is not a solution for
a long term money management problem and that credit must be paid back at the
end of each session. If not, the problem gambler can find themselves in a deep hole
of debt and facing stiff credit reporting penalties and other legal action.