If you’re a high roller or a frequent visitor to a particular casino, you may have access to a special line of credit to request chips at the tables or funds for slot machines. Generally, this type of credit is used to build a relationship with the online casino and can lead to comps and other perks. However, it’s important to remember that credit is a form of debt and comes with certain fees and responsibilities.
How to Apply for Casino Credit
If your casino offers it, you can usually obtain a line of casino credit by visiting the VIP desk or the chip cage. Depending on the casino, you may need to provide your name, address, Social Security number, date of birth and bank account information. Typically, the amount you can get is based on your annual income and credit score.
The casino will run a credit report through one of the major credit bureaus (Experian, Equifax or TransUnion) and Central Credit, LLC, a company used by casinos that provides a standard credit rating. This will show up on your credit report as a hard inquiry and may impact your rating. Once approved, the casino will notify you of the amount you can borrow. The casino can also choose to reactivate your credit line if it goes dormant for more than six months but this can be complicated and require a new credit application.
Some casino malaysia just don’t want to deal with the hassle of issuing and monitoring casino credit for regular players. They may not have the staff to do it, or they might prefer to give credit only to video poker players who don’t need so much personal information. Many table game players, on the other hand, are very reluctant to disclose personal information.
Casinos are held to the same reporting standards as banks to guard against money laundering and will generally report any currency transactions that exceed $10,000. They also need to report markers that aren’t paid back within 10 days or so. The days when a casino would send goons to rough you up for not paying your marker are long gone, but not paying it is still considered fraud and could land you in trouble.
Casino credit is not for everyone. If you’re a low roller or a recreational gambler, cash works just fine and is cheaper than casino credit. However, it’s important to remember the credit is a form of debt and you must always have the means to pay it back in a timely manner. If you don’t, the casino will cancel your line of credit. This will show up on your credit report and can damage your ability to secure future lines of credit. In addition, walking with outstanding markers can affect your front-money balance and make it difficult to gamble at other casinos. It’s important to know your limits before you start gambling with casino credit. This includes how much you play to your credit and the minimum required balance for your front-money balance.