Casino Credit/Marker

I am planning a trip next year and I am not inrested in carry large amounts of cash...can anyone explain how the ';signing system'; works?

Casino Credit/Marker

rid, different casinos have different limits but the process is about the same. You will need a certain amount in your personal checking account (not investment or savings). They will extend credit markers accordingly. You pay as you go or when you are leaving; or they will send a check (demand) to your bank in 15-45 days for the balance owed. At least that%26#39;s how it works for US residents. Or as another option, use travellers cheques and have more flexibility. Cheers.

Casino Credit/Marker

rid, I meant to say that you should contact whichever casino you will be staying at to see what their particular requirments are. Good luck.

contact the casino where you are staying/playing. they will send you a form and maybe a credit app. discuss the terms with them - a marker and credit can be 2 different things.

you can wire $$ to the casino beforehand - no credit app, you get a marker at the table.

keep in mind a LOC will show up on your credit report, wiring $$ does not since it%26#39;s your $$, not the casinos. again, call and talk to the cage for specifics.

also, what is large to you may not be to the casino. some require a minimum - usually anywhere from 5-10K for credit.

traveler%26#39;s checkes work great in LV if you don;t want to wire $$

Underpar and bridgefan gave excellent advice (as always). For MGMMirage properties, you can fill out an application for ';marker signing privileges'; on each properties website. MGM requires a $10,000 minimum, Luxor will require $2500, and I have $5000 in MSP at Mirage. They will check the ';average daily balance'; in your checking account and run a credit report. The ADB in your checking has to be sufficient to cover your markers. After they approve your request, they will give you instuctions on how to activate your marker signing privileges (usually a trip to the cage once you arrive). Then hand your Players Club card to the pit boss and tell her/him how much you want in chips. They will then have you sign a check. I prefer to pay off my markers at the cage with a personal check before I leave town, but that%26#39;s a personal choice.

I have a small addition to what has been said.

After you ask for a marker at the table, the paperwork will take about 10 minutes. They will usually pay you the amount you have requested up front, and then come back later with a paper for you to sign. The paper you sign, the ';marker,'; is in fact a counter-check -- a check that they have prepared, drawn on your checking account, in the amount that you have requested.

If you are doing well at the table, and you want to pay off the marker in the next hour or so, the pit boss might still have the marker there in the pit. Otherwise, they send the marker to the cage.

When you pay off the marker, they will give you back your original signed marker. Destroy it, or write ';VOID'; in large letters across the face of it. I personally tear it into four or six pieces and keep the torn up pieces for at least six months, just in case there is any kind of problem. I haven%26#39;t had a problem, but I try to be careful!

Thanks to all of the great info...as always you guys have made me much smarter...

So to get a marker you would need to keep a large daily balance in your checking account?? Example for a 10k marker the balance in checking would need to be in that range??

thanks

mercateer

yes mercateer, they want to cash your check if you get wiped out. It does happen.

mercateer - not necessarily

if you wire $$ to the casino and have it on deposit you can get a marker at the table, or you can deposit $$ at the cage when you arrive and get a marker at the table - which has nothing to do with how much $$ is in your bank account.

CREDIT is another animal - and you may also use a marker with credit. if you apply for a LOC you will fill out an app, the casino will run a credit report and the casino will set your credit limit. casinos also share info with each other on who has LOC%26#39;s.

so, a marker just means you are getting chips at the table by signing for them - HOW you pay for that marker can vary.

once again folks, CALL THE CASINO cage - talk to them