Casino Credit

Casino credit allows players to use their casino player’s cards like a line of unsecured
personal checking with no interest charges attached. The amount available for each
casino marker is based on a patron’s credit history and the average cash balance of
their checking account. Unlike front money sportsbook Malaysia, casino markers must be repaid on or
before the date specified by the casinos (usually within 15 to 45 days).

Markers are not to be confused with cash advance check transactions, which involve
withdrawing money from a bank account and paying that money back later with
funds from another bank account, online betting agent Malaysia and typically involve higher fees. Most state
gaming regulations define “casino credit” as a temporary line of money that can be
used for gambling purposes. The casino gives the customer a number, usually on the
player’s card, which is then used to exchange for chips at the table or slot machines.
When the gambler wants more chips, he or she simply returns to the table or visit
the player’s service desk to draw on the existing casino credit line.
The amount of casino credit a player qualifies for varies greatly by casino, and by
state law, as well as the rules and regulations established by the gaming commission
or agency. Some states don’t allow casinos to offer casino credit at all, and others
limit the amount that can be drawn on.
Generally, to qualify for a certain level of casino credit, a player must fill out a form
and provide the name, address, phone number and social security number of his or
her bank account. The casino then runs a credit report through Experian, Equifax or
TransUnion and checks bank account information, including recent balances. The
amount of casino credit a patron can draw on is based on the information provided,
his or her credit history and average cash balance in a checking account, as well as
other assets.

A credit department at a casino will also check a patron’s Central Credit score, which
is compiled by the casinos for responsible-gambling purposes. A patron’s Central
Credit score, however, is not a FICO or Vantage credit rating and does not impact a
person’s ability to obtain an outside loan, if necessary.
The days when casinos sent goons to hurt gamblers who didn’t pay their markers
are long over, but casino credit is still a very lucrative tool for high rollers and other
people who want to avoid the hassle of carrying around large sums of cash or
exceeding daily ATM withdrawal limits. If a casino does not receive payment from
the player for a credit line, it will try to collect the debt by debiting the bank account
listed on the application for casino credit or sending a certified letter asking for
repayment.
Responsible gambling advocates suggest that casino credit be used sparingly and
only for amounts that can be easily paid back with a month or so’s worth of
earnings. Gambling is a fun and rewarding activity, but it can also be very addictive.