The Dangers of Casino Credit
The Dangers of Casino Credit
Casino credit gives players the ability to use a bankroll that isn’t tied to their
personal banking account. As such, it can allow players to play more and risk more
than they would be able to on their own situs judi online Malaysia. However, this is only a benefit to players
who have the financial savvy and discipline to utilize the credit wisely. For most
players, using casino credit is a dangerous proposition that can lead to irresponsible
gambling and serious problems down the road.
Generally, casino credit is offered to players who are considered “credit-worthy.”
The credit department at each casino checks a player’s consumer report and bank
information before giving any amount of casino credit. In order to establish a line of
credit, a player will usually be asked to fill out an application that collects vital
details including his name link judi online Malaysia, social security number and complete bank account
information. Often, a patron will be required to authorize the casino to check his
credit rating with Experian, TransUnion or Equifax in addition to checking his bank
account balances through Central Credit, a clearinghouse and database used by Las
Vegas casinos to share data about players (unless the casino is trying to keep a big
whale secret, in which case they will just go ahead and check it anyway).
As long as a gambler has a good credit history and enough cash in his bank account
to pay off any markers he may have, the casino considers him a good risk. Unlike a
personal loan, a casino credit line is interest-free and can be used multiple times
before the debt must be paid back. When a gambler withdraws from his casino
credit, the casino will record a transaction in its database and then electronically
present that “marker” to the player’s bank for payment on an agreed upon due date.
If a gambler fails to repay the marker within the allotted time period, the casino will
attempt to contact him by certified letter to discuss repayment options and may
eventually submit the unpaid marker to his bank for payment.
In a recent interview, former president of the Las Vegas Convention and Visitors
Authority, Steve Wynn, described the casino industry’s strategy for dealing with
problem gambling. He said that a big part of the solution is to offer more lines of
casino credit. This allows casinos to monitor a gambler’s spending habits more
closely and, hopefully, stop him from getting out of control before he runs into
trouble. However, he also said that a casino’s ability to extend credit depends on its
reputation for responsible gambling. If it doesn’t have a good reputation, he warned,
casinos will be forced to rely on more aggressive and expensive methods to collect
money owed by problem gamblers. This could include a full-blown lawsuit or even
the seizure of a player’s assets.…