Marker Questions

Gator · #1 03-28-2005, 12:26 PM

What's the skinny on markers? Some casino's (i.e. Mirage) allow you to apply for a marker online. The application says the minimum is $10K - I know someone who filled it out and was approved for $3K (I guess the minimum really isn't $10K). This is basically a credit limit, correct? So, can that person just sign for $3,000 in chips? Do they need to see someone in particular when they first get to the casino or can they go to any cage? Suppose he loses. What are the payment terms to pay it back? If he wins, and pays back the marker - let's say after five days, is there any interest? Is someone that takes out a marker more likely to get comps? I would assume someone that was approved for $3,000 could make six trips to the cage and take out $500 each time. Is that correct? Thanks.

neotope · #2 03-28-2005, 01:07 PM

[ QUOTE ]
What's the skinny on markers? Some casino's (i.e. Mirage) allow you to apply for a marker online. The application says the minimum is $10K - I know someone who filled it out and was approved for $3K (I guess the minimum really isn't $10K). This is basically a credit limit, correct? So, can that person just sign for $3,000 in chips? Do they need to see someone in particular when they first get to the casino or can they go to any cage? Suppose he loses. What are the payment terms to pay it back? If he wins, and pays back the marker - let's say after five days, is there any interest? Is someone that takes out a marker more likely to get comps? I would assume someone that was approved for $3,000 could make six trips to the cage and take out $500 each time. Is that correct? Thanks.

[/ QUOTE ]

I've only gotten a marker at Fallsview and in my case it was only for $500. The casino basically writes out a check from you to the casino. You then use that check to obtain chips. If you win money you can go back to the cage and pay off the marker. If you lose the money the bank will just process the check to get the money.

I am not sure on the policies at The Mirage but I've been with people at the MGM Grand that have taken out markers for as little as $1000. I would assume that The Mirage would allow the same as MGM.

Usually you have to go to a special part of the cage, the "Credit Desk" or something to that extent to get a marker. They will usually call your bank and verify that you have the money to back the marker. In my case Fallsview did not do this, that could be because it was only for $500.

Hope this helped, as always this is according to my experience.

mrkilla · #3 03-28-2005, 01:40 PM

this may help
http://krigman.casinocitytimes.com/articles/5243.html

Jeffage · #4 03-28-2005, 02:00 PM

Note that many casinos don't allow markers to be used for poker play. Doing so may cause your credit line to be suspended. Check on the policy at your particular casino.

Jeff

chucksim · #5 03-28-2005, 02:38 PM

Over the past couple years, I have had a $2K line opened at several places on the strip. (TI, Caesars, Harrah's). Only grief I've ever gotten in Vegas is that the bigger joints have a $500 minimum draw.

In AC, I know most places will let you draw as little as $100 if you want.

Gator · #6 03-28-2005, 04:59 PM

In reading the link from one of the replies, it looks like after your trip is over, you have 7-14 days to pay off your marker. Otherwise the casion remits the "check" you gave them when the marker was issued. Is that correct? Also, are you more likely to get comped if you take out a marker? Finally, is the money interest free for the 7-14 days?

neotope · #7 03-28-2005, 06:21 PM

I'm sure most casinos have a different policy regarding unpaid markers. If you are a regular player you could probably keep a marker unpaid for a longer period of time.

To me 14 days seems like a the high end. I would guess most casinos process the checks after a week.

I think the size of the marker depends on how likely you are to get comped.

chucksim · #8 03-29-2005, 10:24 AM

[ QUOTE ]
In reading the link from one of the replies, it looks like after your trip is over, you have 7-14 days to pay off your marker. Otherwise the casion remits the "check" you gave them when the marker was issued. Is that correct? Also, are you more likely to get comped if you take out a marker? Finally, is the money interest free for the 7-14 days?

[/ QUOTE ]

Generally, I think it's 7 days for low markers and 14 (or more) for higher amounts. Ask the credit exec or host you will meet when you arrive to sign the required applications (after being pre-approved before arriving). Each casino could be a bit different.

The money is interest free for that time, though I don't know for how long, as I always write a personal check before I leave, just to be safe. Consequently, I've got the marker in my hands when I leave, so I don't know about the deposit process.

Comps, maybe a little easier, though play still rules the day. A funny thing several years ago when I opened my credit line at Harrah's AC is that I was upgraded to Platinum (upgraded mid-tier) status. They probably anticipated I'd be a bigger player than I am.

I don't play slots and have no illusions of playing high enough in the pit to get the required points for that level, so opening the credit line was the only thing I attributed my level bump to. After the year, when I didn't earn enough points, they busted me back down to normal puke status.