Casino Credit Line - What do I need to do when I arrive?

So I applied for a casino credit line at Mandalay Bay. I'm certain I'll be approved for the line I applied for. My question to you all is: What are my steps when I first arrive at MB?

I hear I need to bring a blank check but I'm uncertain as to the things I must do at the cage to "get going".

Go to the cage with your MLife card and ID. As you mention, they want a blank check as another way to validate the account if it's a new line if credit. After they click through enough screens that would make any airline counter agent proud, they'll have you sign a couple forms (I know one is a credit agreement), and then you should be good to go.

With such a generic question, I'd say the best way is to look on their website (maybe Q&A / FAQ) about credit lines. Once you figure out what you think you'll need, call them and verify what you need.

Quote: MidwestAP

Go to the cage with your MLife card and ID. As you mention, they want a blank check as another way to validate the account if it's a new line if credit. After they click through enough screens that would make any airline counter agent proud, they'll have you sign a couple forms (I know one is a credit agreement), and then you should be good to go.

Bonus points if the cashiers cage person click on a bunch of screened while muttering uh oh and huh that's interesting while looking at you like a terrorist. Also they go in the back and come back about 3 times while they call a a manager over. Extra credit if they say your name is not on their computer.

Quote: djatc

Bonus points if the cashiers cage person click on a bunch of screened while muttering uh oh and huh that's interesting while looking at you like a terrorist. Also they go in the back and come back about 3 times while they call a a manager over. Extra credit if they say your name is not on their computer.

Oh boy. I'll have to reply to this thread after my experience at the cage July 8th then!

Quote: JeffR

So I applied for a casino credit line at Mandalay Bay. I'm certain I'll be approved for the line I applied for. My question to you all is: What are my steps when I first arrive at MB?

I hear I need to bring a blank check but I'm uncertain as to the things I must do at the cage to "get going".

JeffR, I have established a line of credit in advance of a gambling escapade a couple of times, but not with the M-Life group. There were forms to be faxed, the store I assume verified my account balances on the referenced bank acct I listed, perhaps got info besides that on me. One of the stores did ask for a blank signed check, the other did not. Both times I reported to the cage with proper ID to check if all was 'set-up' the way it should be. Always told everything is fine Mr Feathers just see the supervisor at the pit to draw against your line. Has taken from a couple of minutes to about fifteen minutes to process the 'marker' at the table, but all went fine. I have found the process much more comfortable than to be wandering around in the middle of the night, possibly in large parking decks or on the street, with large amounts of cash on me. Also gets around that 10k limit for entering or leaving the country with cash without making declarations to the authorities. Once you have the LOC set-up, it is easier to maintain it for future dates with the same establishment. I guess they have a 'in store track record' on you.

As has maybe already been suggested, I would definately call the individual that processed your request and ask them questions about anything you're not sure of. I find they are very eager to answer questions, mostly accurately. And they would just love to give you as big a line as you can afford, maybe bigger.

Good luck, and solid skills wished your way for your July outing.

One thing I try to remind people that are new to casino credit, it really isn't credit like you would get on a credit card. You must show a bank account with about a 6 month average balance of the amount you want from the casino. When you are done gambling it must be paid completely off. Some casinos will give you thirty days yo pay the balance. If you fail to pay it the casino will turn it over to the District Attorney as a bad check. You will be prosecuted.

Quote: DRich

One thing I try to remind people that are new to casino credit, it really isn't credit like you would get on a credit card. You must show a bank account with about a 6 month average balance of the amount you want from the casino. When you are done gambling it must be paid completely off. Some casinos will give you thirty days yo pay the balance. If you fail to pay it the casino will turn it over to the District Attorney as a bad check. You will be prosecuted.

This is all true, technically. Different joints have different time frames to pay off, and while they all want to be paid off before you you head back home (for out of town visitors), most will accept a 7 day to 30 day window to pay them off. Just be clear as to what their terms are when you sign the credit agreement. Also, if you are going to need a little more time, they will often work with you, especially if you are an established player, before they present the markers to your bank. The key here is to stay in close contact with their credit collections area.

I always let the casino deposit the marker. Why should I give up 15-60 days of free float? No skin off my back, all the skin's off theirs. It's not reported as a late payment.

I've never been asked for a signed blank check, and if I was, I would say "no". I have accounts at MSS, Bellagio, TI and Red Rock.

Red Rock was the first casino that gave me the option of just letting them cash the check at the end of the wait period. I just don't like someone else having that kind of control on the timing of money coming out of my account, so I prefer to pay off while I'm there... that's just me, but understand taking advantage of the free float if someone is inclined to do so.

Quote: DRich

One thing I try to remind people that are new to casino credit, it really isn't credit like you would get on a credit card. You must show a bank account with about a 6 month average balance of the amount you want from the casino. When you are done gambling it must be paid completely off. Some casinos will give you thirty days yo pay the balance. If you fail to pay it the casino will turn it over to the District Attorney as a bad check. You will be prosecuted.

As a clarification to this response, and only from my experience. Once I had my LOC established, and took multiple markers against that LOC, I got my ass handed to me in losses the first night. Pls understand I had no intention of ever, ever, dipping that far into the LOC. I was just testing the system and format and had a very old, nearly inactive, acct that I added some money to before applying for 20K LOC. Damn, I took out four 5K markers on a Fri night when I couldn't win a big hand (many doubled, and/or split) to save my life. Lost like 17K that night, amazing, and a new record. Sat bounced around even for the day, all day (12 hours), then got some dinner, came back and lost another 2K. Went to bed very depressed. Sunday I got up, I got some B'fast, checked out of the room, and returned to the table about 11:00 AM. Played until 3:30 AM on Mon, no food - just some scotch - and a lot of water. Went slowly downhill from the start, got to a point where I could not have covered an obvious split/dbl hand if it went beyond just a simple split or double. I was, in essence, tapped out., beyond my belief. The hand doubled, I won. Played on for hours and had a really nice run for an hour or two with a single dealer. Won back about 15K and retired/bought back(?) 3 of the 4 5K markers. Still went home 9 K down and depressed ( I walked in w/5K plus LOC) but it wasn't nearly as bad as the day had started ;-)

The point is, I drove home to get my kids on the school bus on time (20 minutes to spare). Did not settle up my last 5K marker, meant to but forgot to bring checkbook. The store just simply withdrew it from my acct about 30 days later. I've been back to same store since then, went way up, then way(er) down. Again they just withdrew from my acct. no problems. This particular LOC was with a CZR property, under Harrah's brand.
Just ask the people you are dealing with any questions you are wondering. If you can't get a straight answer, well then you decide whether to walk away. Good luck!

What's required to actually get the marker at the table? I ask because what if someone gets a hold of my players card and does a little identify theft at the casino?

Quote: JeffR

What's required to actually get the marker at the table? I ask because what if someone gets a hold of my players card and does a little identify theft at the casino?

You'll need your players card and a picture ID. They might even check your signature when you sign the marker.

Oops!

Quote: djatc

Bonus points if the cashiers cage person click on a bunch of screened while muttering uh oh and huh that's interesting while looking at you like a terrorist. Also they go in the back and come back about 3 times while they call a a manager over. Extra credit if they say your name is not on their computer.

They used to act like this on the strip in Vegas when I'd cash my paycheck...I used to wonder if the boss had enough money in the account.

Side note: Several years ago I did a news story on markers and found that most of the major casinos for their REGULAR players actually allow some leeway on paying markers. Casinos that say they have a strict 30-day time period can extend it by a few days or even a few weeks if the player asks for time -- and if this is a one time event.

About a year ago I had a marker due on a Saturday, and I actually got a call from the cage on Saturday afternoon asking if I needed a few more days to mail it in. When I took the call I was actually on Las Vegas Blvd just about three minutes from the valet -- and I told the cage person that. Then I simply walked in and paid my marker and started my weekend. But it is an example of how there is leeway if you are known to the casino and have a good record of paying on time.

The official statement from several of the major casino companies was this: "we take these on a case by case basis."

If you are going to play on markers, attached to a pre-approved Line of Credit, then I would advise, strongly, that LOC be against an acct you use 'just for that LOC'. It has money in it to cover 110% of the LOC. It is still real money, we are not talking Monopoly money here. Then run with it, good choice. Don't walk around with really large sums of money on you, unless you just have to play 'anonymously', that's a whole different game. Watch your back, you never know when someone else is watching you. There are a handful of really bad people in the world. Maybe one of them just sat at the table with you, you never know.
Play smart, play hard, have fun, be safe, good luck...2F