Credit Line vs Front money, International

Not a question specifically regarding comps, but one aimed at the higher level players here.

I visit a couple of times a year and it gets harder each time to transfer my gambling funds over before I visit (bank rules, transfer costs etc). So I started thinking why not try to set up a credit line with the casino instead?

Before I do that, was interested in hearing your independent views about any pro's & cons between these two methods of giving my money to the casino! Including anything which might be effected by me living outside of the USA.

Amount per trip can be from $30k - $100k, casino of choice is Wynn. Thanks

 

I hope you get the info you want but I suspect that the number of UK players with credit lines who post on here is very small.

You seem familiar with the money wiring process. I find the process reasonably straightforward but it can be an expensive process if wanting to wire most of the money back after the trip, especially if exchange rates have changed.

When I enquired about a credit line at Bellagio a few years ago, they were keen to push me towards wiring. They might even have said they do not offer credit lines to UK players, although that seems unlikely.

If Wynn are offering you a credit line, subject to bank checks and so on, I would clarify just how the process works with them. US players would often write a cheque to clear any balance when they leave the casino, or send a cheque after the trip. I'm not sure how that would work for a Sterling bank account. Presumably there would be the option to wire any monies due after the trip but that still leaves you using the wiring process, in part.

I think a credit line would be easier than wiring money both ways. I would also be interested in fully understanding the credit process for UK players, if you get the answers.

 

are you already working with the Europe hosts at Wynn and getting international program benefits like airfare, loss rebates, etc? generally FM gets you an upfront discount depending on how much you send that a CL won't get you. so that's the advantage. the casino likes it because if an international player skips out on his markers, there's less they can do about it than a US player. so with FM they get your money upfront and they don't have to worry about that. that's why they give the upfront discount.

 

Thanks guys, interesting stuff already.

Tubbs - I keep an account in USD (Isle of Man) which helps counter the exchange rates, but it's still a real pain for transfers both ways.

Shifter - no I don't think I'm in that league! Generally I end up with RFB, suite and limos. I'll speak to host about upfront discount, like the sound of that!

 

are you working with an international host? that's the only way you're going to get that. 30k is on the low side, but 50-100k is definitely enough to get an international deal with upfront airfare based on FM and loss discounts. with an international passport, you should qualify.

 

Yes although my international host for the past few years has moved on, so I haven't met the new one yet, just emailed back and forth.

 

the one thing about international deals is they are contracts. they require you to hit a certain theo threshold in order to get the incentives. the level of theo required is usually 25% of your FM. so 50k FM would require 12.5k theo and should give you something like $4k cash airfare and 5% loss discount if you lose at least 50k. that's great if you like to play, but if you like to hit and run sometimes when you get up big, you won't get the incentives.

 

I have been thinking that I need to check out establishing a credit line/the international program and I would also be interested in anything you learn. I will do likewise.

 

Either ask whatever host you're dealing with about the details of the international program, or just call up and ask to be connected with a European market host/marketing executive.

If you're able to qualify for the International program [which it sounds like you are] you should definitely take advantage of that - the terms you get are much, much better than we domestic players get for same-size LOC/FM/theo.

 

I wire from the UK to the Bellagio cage, my bank charges £35, and I think Bellagio will wire anything left free of charge back to the same account.
I earn in USD, so I don't need to do the fx change up.
I too would be interested in hearing from any UK player on the international programme, I normally wire $50k FM,but have friends that gamble considerably higher.