Establish a credit line?

[Cardcounter]

I was playing at my favorite casino the Siena and the pit boss walked up to me to give me a VIP card and said if I ever need anything that I could call the # and get a room, and that they might be able to get me tickets for things in town. I also bet that I could establish a credit line with the casino but I have not taken em up on it yet! Do you think that it is a good idea to establish a credit line with casinos?

 

[shadroch]

In Atlantic City,a line of credit is simply a counter-check. You sign a form ,if you don't repay it in seven days,they deduct it from your checking account.An AP may not want a casino tracking his cash flow.

 

[zengrifter]

I was playing at my favorite casino the Siena and the pit boss walked up to me to give me a VIP card and said if I ever need anything that I could call the # and get a room, and that they might be able to get me tickets for things in town. I also bet that I could establish a credit line with the casino but I have not taken em up on it yet! Do you think that it is a good idea to establish a credit line with casinos?

Yes, add the credit amount to your cash BR and then you can bet bigger. zg

 

[EasyRhino]

I was playing at my favorite casino the Siena

Say hi to Steve for me. And don't spread 1-10 in front of him.

Yes, add the credit amount to your cash BR and then you can bet bigger. zg

Scary, you're playing leveraged with money that you may have to repay in a week.

I haven't credit lined anywhere, but I'm kind of thinking that they would be useful at places where you're playing overtly anyway. Mainly to reduce the need to carrying around so much cash. Also, the opportunities for virtual ratholing and walking the market would be okay.

Plus, from a simplistic standpoint, making huge advances on the line of credit might accidentally make some marketing computer think you're a bigger bettor than you are.

 

[davidpom]

Having a credit line can help when it comes to getting comped. The casino knows you're "good" for that certain level of money and they'll do everything they can to take it from you - but in return, they'll also be generous with the comps because they know you'll expect that... This has worked well for me numerous times when on vacation at Las Vegas properties, for example.

Betting on credit is NEVER a good idea - but it's fine to take a Credit Line, which is essentially a FREE LOAN for a few days, as a matter of convenience - i.e. if you can afford to spend $5K in cash in a week, take a credit line for $5K rather than cash from your own bank account. At the end of the week, if you've lost it all, then you're only where you would have been budget wise if you'd taken cash. And it saves carrying large amounts of cash around too.

But never take a credit line if you lack financial discipline or understanding, or in addition to cash... unless you have VERY GOOD control. Credit lines and alcohol for instance are a very bad combination.

 

[Paradox]

NO, Absolutely not.

They must take your SSN. Also, the Feds are not tracking all lines of credit, too. It is just a bad idea.

 

[Cardcounter]

How I would use it!

I was thinking of using a credit line mainly so I wouldn't have to carry so much cash also on a credit line you can cut a check rather than carry cash to the casino! I wouldn't use a credit line that I couldn't pay back! Basically it would be a subsitute for buying in with cash or having to make a trip to the bank which by the way is really close to the casinos! Just because you have money in your account to be able to pay off the loan does not make you card counter! If you are a high roller than taking credit lines is normal! But I saw some credit lines for $500 which I would consider a mid range player! If they take my social security # that would worry me a little bit!