Credit Line, Wire Money or Carry Cash

Interested in hearing what people prefer when it comes to money for Vegas. Do you prefer to play on credit line, wire upfront money, carry cash or a combination? Why do you prefer one over the other?

 

I definitely prefer the CL, but still always bring some cash. Basically, I use the CL for all my play, but bring cash for any additional spending while I am there

 

I used to be firmly in the Randy Moss camp. But now that I've narrowed down the number of places I like to stay/play, I much prefer a line of credit.

No worries about forgetting my bankroll (I've twice had to turn around on my way to the airport because of this). No worries about carrying a decent amount of cash through security (or the bigger threat - some county mountie pulling me over on the way to/from the airport and seeing the opportunity to pad his budget, or take home pay). And no having to plan in advance with the bank to make sure they have enough hundreds to cover me.

The only problems with a LOC: I find it easier to keep taking out markers than it is to keep peeling hundys off the wad. So I have to have a bit more discipline. And it is a bit inconvenient when I want to casino hop. Though, I've never had a problem using a few grand of my LOC to play elsewhere and there's really only a few places where I enjoy playing anyway.

 

I have always used cash. I have never taken more than 3k with me (3 nights, 4 days). Admittedly, I did not know about LOCs or wiring money ahead the first few years I went to Vegas.

 

I would love to learn more about LOCs and wiring money. Anybody have details?

 

Not much to know, really. What questions do you have? For front money, just contact the casino about wiring it in. For a credit line, I think every casino website has an application you need to fill out

 

Everytime this comes up, the number one unanswered question is: how much are we talking about?

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I am not a fan of wiring money, at least at my level. I might go through $5 to $10k on a trip. I can easily carry a few thousand with me. It only costs $6 to get a thousand at the ATM - no forms, questions, lines, etc. I can play at any casino I want. No planning.

To each their own.

 

It may not be the safest but I like bringing my entire bankroll in cash and either before the trip or when I am in my room, putting all of the cash in my daily envelopes (and trying hard not to tear open envelopes before "their day"). I like not having to engage in any transactions to get money once I am in Vegas, including the ATM. Though it seems counterintuitive for some reason I have MORE discipline when I have all cash and less so when I feel like can just go to the ATM in a given day or before a given session. I somehow seem LESS focused on how much I am spending when I frequently go to the ATM vs going to my room to rip open an envelop for another day. LOL.

 

No details here, more questions instead: is it possible to repay a LOC with a credit card prior to departure? Which casinos will let you do this? It could be a good way to earn affinity points to transfer from credit card to frequent flyer program.

 

Nope. You can't pay a LOC with a credit card.

 

Even if you could do this, it would be considered a cash advance and you wouldn't get any points for it.

 

I usually cash a check at CET at the cage. No fees, like the ATM which is about $6. Maybe that is a credit line, I dont know. I went there one time with one check and now I don't need to bring a check. The checks usually hit the bank within a week.

 

The Chase branch at S. Las Vegas Blvd and E. Windmill has an ATM in the lobby where you can withdraw up to 3K.

 

We take cash, and because of the way we manage our daily budget we always take something back with us. We get clobbered exchanging $$$ back to £££ so the money we brought back last time has been sitting waiting for its return journey for the last 18 months!

Can they do wire transfers the other way? Would the casino send money to our UK bank account for us?

 

I used to have a LOC where I stay but since my trips are now less frequent it is a hassle as they require me to update it every 8 months. With all the security regulations, my bank (which is attached to my brokerage acct) requires that we have a 3 way call with the casino, the bank and me. With the time difference it takes days to get together. Since my bank rebates all my atm fees I started using the atm after running through the small bankroll I bring. I can call the bank and limit or increase the daily withdrawal amt as necessary. I am trying to keep the daily limit down as a type of budgeting. When I had a LOC I tended to take out more than the daily budget "just in case".

 

I bring cash. And if needed, I keep a "Vegas cushion" I can access at the BOA branch on Eastern.

 

I do a LOC and cash. The great majority being a few LOCs at different casinos.

Beware the LOC though, it can make you sloppy with your money. I'm embarrassed to admit the number of times I've gone to the cage having just a vague idea of how munch in markers I've taken out.

 

Indeed. There’s been a time or two when I woke up to find way more paid off markers on the nightstand than I remember taking out. “Shit! If I paid off that many, how many did I take out?!”

Now I just keep a running tally on my phone.

 

I bring cash for the first day, but have a LOC at two casinos. Our joke is once the first bill goes into the VP machine, that's all the money we'll need. Funny how that never works out.

If I tap the LOC it usually for $2,000 at a time. If I request more than that on a single draw, then they have to get a manager involved for approval and it takes a lot longer.

From my perspective, you can't beat the LOC at MSS. My account is tied to a checking account which only has a couple of hundred in it max at anytime. We leave and a week or more later I get an invoice from the casino for my markers with a postage paid envelope.

We checked out March 1st and I got the invoice on March 14th. I cut them a check from an interest bearing account, granted it doesn't pay much interest, but every little bit helps. It couldn't be simpler.

 

I once remember having a really long chat with one of the nicer casino hosts at the Monte Carlo a couple of years ago. We touched on the idea of Markers, Advance Cash Wire Transfer, and bankroll. Given that he is a host and represents the Casino, I was surprised to hear how direct he was with his comments derived from the experience he had gained over the many many years in his position. He advised me never to take Markers out, even if the Casino would extend credit to me. "Take what you can actually pay right there, right now". He's obviously seen it all in players and how things can spiral. I always believed this as well, once hankering for a line when I had run out of cash, and none of the ATM machines on the casino floor would spit anymore cash out at me due to daily limits. I may actually use the Wire Transfer form that the host has sent me for my upcoming trip, and manage my expectations on that. The advantage for me is that they will wire back to you all the money you instruct them to send back (so it takes away all the hassle of carrying cash, and dealing with it when I arrive back in my current home country). I think the lesson for me is that if I do lose my bankroll or my transfer amount, then it's a sign that it was truly my 'limit' and I shouldn't go beyond it. Markers destroy that line, so you have to be really disciplined with the service.