Just curious regarding markers: 1) Are there any benefits to opening up a credit line with a Vegas casino, aka marker (vs carrying cash, let's say about $2k). 2) I assume we get 30 days to pay them off? 3) What is the interest rate? Or is there one..? Thanks for reading!
1) You don't have to pay ATM fees 2) It depends, 30 days is the norm. The Wynn is the only casino that I've seen with an exception. They deposit your check (markers are counter checks) three days after your trip "ends". But then again, Wynn is the only casino I've seen with a $5000 minimum marker limit. At CET you have the option of getting a snail mail reminder at 14 days. 3) 0 interest
Thanks for replying, DaiLun. I had to ask about the interest rate because I thought I read something many moons ago that the interest rate was like 30%..
@ohcraps - Oh, and I forgot to mention. Casinos are getting very strict about using marker money in THEIR casino. Even with the large "chain" casinos it's getting to be that way. For mLife and CET it used to "not matter" if you took a marker out at (for example) Caesars and played at Harrahs. Now they DO care and it's frowned upon. I had my marker privileges rescinded at Venetian/Palazzo for this.
You got rescinded for gambling with Venetian money at the Palazzo? Or did you take the money elsewhere?
They "said" that I didn't put in enough play to cover the marker. To tell you the truth, I don't really know but it was possible.
...another "advantage", hinted at by DaiLun, is that you are are far more likely to be rated accurately.
Sorry to hear, @DaiLun. May I ask if your privileges were rescinded after 2016? My boss and her husband were high-limit baccarat players at V/P and used to play between the properties without a problem until the Las Vegas Sands baccarat shill game was uncovered a few years ago. They play almost exclusively at Wynn now because of all the hoops they had to jump through after all that.
Yes it was after 2016, and I don't think they would've minded had it been between Venetian and Palazzo. They specifically stated that I didn't play enough to "justify" the size of the marker.
There was a story on the news last year before the WSOP about two guys driving out to play and had their entry fee in cash on them. Got pulled over and delayed because of having such a large sum of cash on them. Seems to be best reason for a marker so not to travel with a huge amount.
Do you know how much it was? As long as you have proof that you're a player it shouldn't be an issue Edit: https://www.cardplayer.com/poker-news/21092-poker-players-settle-with-iowa-over-police-taking-their-bankrolls-in-traffic-stop I think I found it lol
Yeah, but isn't the entry fee to WSOP like $10,000? That means that you would need a marker of $10,000 or more
I thought that you need to have three times that amount in your bank account to qualify for a marker. In other words, to get a marker at the wynn for $5k (their minimum), you need to have $15k in your bank for at least three months.
AFAIK, this seems to be the case or rumor that gets passed around. When I opened my LOC at several properties, I just had a little over the amount I requested. I started with 5k, 10k, then 20k. When I opened by 20k LOC, I probably had 21k in there. Never had any issues with opening any of my LOCs and not having 2x or 3x the amount requested. When I spoke to my hosts at both CET and MLIFE, both of them gave me similar information, that the history of your play being equivalent or more to the amount of your LOC was more important. Not to say having the XXX amount of $$ in your account isn't important, but they look into your play history apparently. Not sure how true it is, but just passing on info that I received when I opened my LOC.
I agree with this. I know that when I opened my marker with Wynn, it was the first marker account I ever had and I wasn't carrying $15k in my checking account.
I used to be one of those that didn't believe in opening a marker. Didn't see any advantage in it, I was ignorant. After a trip with my friend when he opened one, he convinced me to do the same. After that, I honestly don't know why I didn't earlier. As others have mentioned already, there's much benefit in opening one. Main one being not having to carry all that cash with you when traveling. Some don't mind it, but it's one less thing to carry around and worrying about it while you're going on or on vacation. The disadvantage I see as DaiLun has mentioned was the loss of flexibility of playing with that money in other casinos, other than the one you took out the marker from. This limits you to only using that money at that one specific casino. But not really an issue if you already have a LOC, you can just open another one at other casinos, cause after the first time it should be easier. As an FYI, I see the mentioning of 30 days to repay the marker. I can't remember exactly, but I thought if you took out a lower amount against your marker, for example like $2k or $5k, you only had 14 days or 21 days to pay it back, vice taking $10k and having 30 days to pay it back. I can't remember if this was in Vegas or AC. Not sure if this is still the case since I mainly take out $10k minimum now.
AC casinos cash the marker in 1 week if it's $1,000 or less. LV casinos have always given me a full month on all of my markers. I take markers at $500 or $1,000...I'm a teeny tiny player. I still have markers at half a dozen casinos in LV and close to that many in AC. The cash I bring with me for my trips is for me to have play money at random casinos I may find myself in.
