| The
casino never asks what the money is going to be
used for because it already knows. Credit extended
at a casino is only used for gambling purposes,
and that to a casino is tangible and valid use of
its money. This brings up a major difference between
the casino and the bank. The bank's money, once
borrowed, gives the borrower something of value
in the end. The casino's money gets Ile player action
at the table, and if that money is lost it has it
has to be paid off, but the player has nothing really
to show for it. Therefore, when you obtain credit
at a casino you should be aware of the pitfalls
of that credit. By studying the content of this
book, you'll be in a position to use the credit
wisely and without paying a cent for its use.
For most players who want credit the procedure will
be pretty standard. They'll be given a credit application
to fill out, listing information about bank accounts,
credit cards,and financial references. The casino
will then verify all this information, some by phone,
some by correspondence. It can’t be done at
once. In most cases, it may take at least a couple
of weeks before the applicant's credit is approved.
Because of this time interval, you should plan to
get your credit approved before you arrive at the
casino to gamble. To do this, you should either
write to the casino well in advance care of the
credit manager; or, when visiting a casino,you should
fill out an application on the spot so that on your
next visit you'll have credit.
Sometimes a casino will accommodate a player by
phoning his bank to verify his balance and issuing
credit based uppon the bank's information. But this
will never be done after 3 P.M. on a Friday afternoon,
and it is rare that credit will be issued just on
the basis of a phone call to a bank. The casino
is wary about phone calls, and with good reason.
Some years back, a con man defrauded a great many
Las Vegas casinos by having an agent (a fellow cheat)
answer the phone and verify the man's bank balance
and credit, well into the hundreds of thousands,
at a bank on the East Coast, when in fact, the man
getting credit didn't even have an account at that
bank. Every con man, every thief, every transient
and scam operator eventually passes through a place
like Vegas, trying to beat the casinos out of money
with fraudulent schemes.The casinos are afraid of
giving instant credit, of long-distance verifications.
What they prefer is proper correspondence, seeing
the person's credit references down on paper with
a bank’s letterhead above the information. |
