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Marker Question: How much in bank?

Discussion in 'Casino Gaming' started by TIMSPEED, Oct 8, 2013.

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  1. TIMSPEED

    TIMSPEED !địt mẹ!

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    Question...
    Were going to get started at Harrahs, to make Diamond...
    However, we've never used markers before, (pay to play) BUUT, we figure we'd get $1000 line at Harrahs, in order to not have to take THAT much cash with us when we put in our play ($25k coin-in on $1 VP, in a day)
    My question is...when we apply, if we JUST want a $1000 line...what will they need to see in the bank?
    We recently got a "joint" account (moved in together, yadda yadda), and closed our separate accounts.
    We both put in $2000 a month ($4000 total income)
    Will they look at daily average balance, monthy HIGH, or what??
    Like I said, we just want $1000, simply to not have to take more than $1000 with is (so we'd effectively have a $2000 bankroll with very little RoR)
     
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  2. jdvegas

    jdvegas VIP Whale

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    Average balance for last 6 months, and a credit report of you do not already have credit elsewhere in Vegas.

    But for $1,000, it is hardly worth it. In fact, some casinos might not want to deal with it.
     
  3. TIMSPEED

    TIMSPEED !địt mẹ!

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    I was thinking the same thing...especially Harrah's...but I really don't need (or think we could get approved) for more...
     
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  4. DOUBLE B

    DOUBLE B Tourist

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    I have a line and the minimum at another casino was $3000.
     
  5. Huddler

    Huddler VIP Whale

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    I have a LOC at a few different casinos, and they do reach out to your bank to see your average daily balance for the past 6 months. I typically dont keep more than $5k to $10k in my checking account so I thought that might prevent me from getting a credit line that I wanted. However, they will also run your credit and check your credit history with other casino's. So, I although you might not run a large checking account balance I dont think that will preclude you from getting credit. I believe the minimum is $5k at some casino's.
     
  6. nostresshere

    nostresshere Mr. Anti Debit Card

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    $1,000

    Really? Why not just put 10 $100 bills in your pocket? And the same in her purse. or wherever.

    Or get it from an ATM with a $5 fee.

    Marker seems like way too much hassle for so little cash.
     
  7. nostresshere

    nostresshere Mr. Anti Debit Card

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    Don't forget about the 5,000 bonus for daily play. You can play over 2 days and do way less coin in to make Diamond. Also, I assume you are going to play on one account?
     
  8. UKFanatic

    UKFanatic The Arbiter of Taste Caviar Kid

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    Agree with this comment. I don't know what Harrahs requires as a minimum CL, but the places I know of require at least $3k or $5k top open a line. Seriously, $1k is ten bills. Just put it in your wallet. Or if you're not comfortable carrying that, leave some of it in the room.

    As an aside, I am not a slots player, but how many trips will it take bringing $1k to make Diamond status?
     
  9. Kickin

    Kickin Flea

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    Don't kid yourself. You'll need to do $50k coin-in over 2 days, or 10,000 hands and you're bringing a 400 hand bankroll. Your risk of ruin isn't "very little" regardless of which game you play.

    As far as the marker goes, its undoubtedly overkill for just $1k, which is so thin you can carry it in your shirt pocket. But for what its worth, when I opened some for the first time this year they only checked the 3 month average and didn't do a credit check. This included both MGM and CET props. So YMMV.
     
  10. shifter

    shifter Degenerate Gambler

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    you likely can't even get a CL that small because the casino doesn't want to deal with the hassle of setting one up for that much. the lowest I've ever heard of is $2500 and that was a special case. usually they want at least $5k.

    as everyone else has said, put 10 bills in your pocket and you're done.
     
  11. UKFanatic

    UKFanatic The Arbiter of Taste Caviar Kid

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    Like I said, I don't know how much you have to play slots to make Diamond, but I already assumed the OP meant using a $1k credit line over multiple trips. I agree with this post. There is no way you're going to make any kind of high tier with only a $1k bankroll on one trip. Only way that happens is if you hit some very big jackpot on an early spin (and then cycle all those winnings back into the machines) or, maybe, if it is part of one of those diamond in a day promotions. I assumed he meant trying to make Diamond some time in 2014
     
  12. Kickin

    Kickin Flea

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    He said he's playing $1 VP, not slots. So his numbers for that are right, he would need $25k coin-in in a day to get the max bonus (2500 TC + 5000 bonus). Two days of that would get him to Diamond.

    But a 400 hand bankroll for 10,000 hands is risky. It would be like me trying to get $250,000 coin-in from $10k playing $5 VP. Or a 25-cent player trying to get $12,500 coin-in from $500. Its possible, but not with the confidence he expects. Especially since he considers $1k of that $2k bankroll as just a cushion.
     
  13. UKFanatic

    UKFanatic The Arbiter of Taste Caviar Kid

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    lol, to me, everything that doesn't involve some human interaction with a dealer is a slot! Video BJ or Bac......that's a slot, lol! Seriously, I always thought VP was considered a slot, albeit one of the best ones considering the house edge
     
  14. 44inarow

    44inarow VIP Whale

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    The distinction is important on this subject because VP generally has a different (lower) earning rate for tier credits and comps. For Total Rewards, for example, it's one credit per $5 bet on "reel slots", but one credit per $10 bet on video poker. That being said, they're all the same in my mind when it comes to actual play.
     
  15. Joe

    Joe VIP Whale

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    I have to disagree. In VP decisions must be made every hand to improve your chances of winning, versus a slot, where you just hit the button each time and hope for the best.
     
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  16. DOUBLE B

    DOUBLE B Tourist

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    Back to Line Of Credit..........I have a line of credit as well as Front Money (front money is my money that I put on deposit with the casino) with a Vegas Casino. This casino does not like to accept deposits of Front Money under $1,000...even though it is my money they are holding. As someone stated earlier the paper work/time involved is just not work it to the casino. If you are a regular with the casino they will work with you a little, but if you're not, well !!!!!!
     
  17. makikiboy

    makikiboy VIP Whale

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    While many casinos on the strip have higher minimums for LOC, many downtown casinos allow lower minimum LOC. When I applied for a LOC at the boyd properties I got a $1000 credit limit at the Cal. Basically I applied for the LOC so I could establish myself at the Boyd properties. Yes, they take your average balance over a 6 month period so you can't "stack" your account when applying (I tried that and it didn't work). Your LOC is based on that and is usually (rounded off) to the amount of your average balance.

    I have most of my money in savings and cd's but they didn't take that into consideration (though I mentioned it and have over $40k), just what average balance I had in my checking account. I think the reason for that is because you sign a paper allowing the casino to take money straight out of your checking account if you don't pay your balance by the required date.

    Best to check the casinos on the strip to find out what their minimum credit is.

    I have since increased my credit limit but I prefer to come to vegas with only a small amount of money and take out markers each day for the day's spending, I usually only carry a day or two worth of gambling money. That way I don't have to bring up money and can use their money while in vegas (until I get the bill weeks later, lol).
     
  18. TIMSPEED

    TIMSPEED !địt mẹ!

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    Fwiw,
    I have done $25k coin-in MANY times at another casino, and NEVER needed more than $2000 to do it.
    My biggest loss was $400, and my biggest win was $2000.
    So I'm not "new" to knowing bankroll requirements and RoR for my very specific action....
    Like another poster said, I'm basically trying to get a "cushion".
    And like another said, some smaller properties may do $1000, while others won't...
     
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  19. UKFanatic

    UKFanatic The Arbiter of Taste Caviar Kid

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    Then call Harrahs and find out. Worst they can do is say no. And let the board know what response you get. Or better yet, you can apply online through your TR account. Do that and let us know the response
     
  20. Kickin

    Kickin Flea

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    Ok I thought you meant you wanted to earn diamond on one trip. If you're talking about 25k coin-in total it's obviously a bit more feasible on just $2k. But if you've done $25k coin-in (5000 hands at $5/spin) many times and the most you ever lost was $400 (or 1.6%) you're probably one of the luckiest VP players on the planet.
     
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