Yes, if you stiff a casino they report to central credit and every other casino will know about it. Despite that, I've heard of stories of people being granted credit even though they've defaulted on a marker to another casino. The fact that most of the time marker money never leaves the building, makes lousy high risk loans worthwhile.
What I'm saying is, after the initial check, there's very little, if any due diligence. I've personally received (and still have) credit lines in excess of my bank account balance tied to the credit line. I have the cash to pay those lines, but the casino has no way of knowing that. Every time I lose my credit line at a place, the casino without fail gives me more when I ask for it.
Markers are only a problem for people if they're dumb enough to sign one they can't afford to pay.
Think again. Google the District Attorney's office in LV and read. If you don't do markers skip it, if you and don't pay, read. Simple. It is a crime and they do prosecute and extradite. They started that a few years ago. Period.
They extradite you from another state?
In any event, if the person simply doesn't have the money, said exercise would seem fruitless and other than teaching him/her a lesson and hoping the word gets out. I guess it has as you are repeating it here. I personally have no intention of defrauding any casinos but when a person gets drunk etc. it seems he/she might be the victim, not the criminal. The victim of casino credit being granted when he/she isn't of capacity to make rational decisions in addition to said casino knowing the person isn't credit worthy.
Whether casino credit, drunk driving, bank robbery or rape..
Where we seem to differ is I don't equate casino credit to the other criminal acts you so gracefully outline.
Cheers. Headed to Starbucks for a coffee and to start the day's activities which don't include anything outlined above but do unfortunately involve one criminal action, that of getting a massage. Sorry, I should say two since I'm also taking a drug which requires a prescription and I don't have same....
Somehow I think this is illegal.Quote: sc15
I'm asking this because of how loose casino credit is, and how easy it is to get into debt you can't actually afford to pay off (so it's not just an instance of someone refusing to pay because they don't want to).
I personally have over a million in credit spread throughout las vegas (lines from 20 - 150K). I DON'T have that much money. If I were to go and lose my line of credit at every place I have it in vegas, I'd be broke. I also have lines of credit at individual properties that exceed the balance of the bank account that I gave them when applying for the credit. The increases were through a host, and the decisions were made based off my play, and they did no additional due diligence to make sure that I had the money to pay it (if they did they would've rejected it since the account I gave them doesn't have much money in it). I have also had additional credit given when I lost my line of credit, and it was given immediately (like, in 10 - 15 minutes. They rush to quickly do the paperwork so they can get me back playing). Obviously no due diligence is done during this.
With this "let the player lose first, worry about collecting later" practice, how much of markers drawn never get paid back?
Somehow I think this is illegal.
Personally I don't care and i'm not judging.
They went after guys for this type of stuff before.
sory perhaps I confused lines of credit with markers. I thought you had a million in markers spread around.Quote: sc15
What's illegal? Getting credit lines exceeding my bank account balance? Or even more money than I have?
It's certainly not illegal. It's only becomes illegal if I start signing markers I don't intend on paying back. I didn't get the credit lines to stiff casinos on markers, I got em because I play at a lot of different places and it's nice to have it everywhere.
Technically by the letter of the law, you're writing a bad check if you sign a marker and don't have funds available in your bank account for it to be cashed immediately, but they have to give you a chance to pay it back before any DA is going to look at it.
sory perhaps I confused lines of credit with markers. I thought you had a million in markers spread around.