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Front Money vs. LOC

Discussion in 'Casino Gaming' started by FuschiaGoddess, Nov 3, 2016.

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  1. FuschiaGoddess

    FuschiaGoddess Tourist

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    Hi all .... newbie here ! (To the board not Vegas.)

    When my husband and I visit, we bring a cashier's check and set up a marker at the Cashier's Cage. On our last visit to MGM Grand in July, we discovered changes to the marker system that gave us pause. In the past, whatever was left on the marker would be given to us as a check on the day of checkout. Now they mail the remaining amount to you after 10 days.

    We spoke to an onsite Host about a line of credit. He seemed rather anxious to get us set up with one, and his answers on how to use it were rather ambiguous. (We deal with a Marketing Specialist for MGM Resorts via email for rooms.)

    We're staying at Mandalay Bay over Thanksgiving weekend. (I know, stay away from the Buffets !) I'm wondering if a LOC would give us the flexibility we're looking for, and if it can be settled up on day of checkout rather than waiting 10 days for a mailed check.

    TIA, and now off to restaurants with a question on the House of Blues at MB
     
  2. Chuck2009x

    Chuck2009x VIP Whale

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    When it's not a huge amount, most people who use front money or deposit cash at the cage say they do it because it limits their loss to what they brought on that specific trip. Or in some cases, because they don't keep much of their liquid assets in a checking account, or don't want to give their bank info to the casino.

    Theoretically, you could set up a credit line for some amount, and then have the credit limit be more than you can really afford to lose on a specific trip, and have it be a temptation. But I think that's a minority of people.

    I've wired front money a few times, low 5 figures, but I always found it was much more hassle than using a line of credit. LOC - go to the cage and write one check when you're done gambling, boom, that's it.

    Only hassle I ever had with an LOC was if a certain period of time (usually a year in my experience) goes by and you haven't used it, they want to re-verify your bank balance, which only takes a few minutes.
     
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  3. makikiboy

    makikiboy VIP Whale

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    Actually with a line of credit, you will take out a marker against that LOC. It is like a loan or a cc so you take out only as much as you want with the maximum amount determined by what maximum LOC they give you. Any winnings at the end of your stay can be used to pay off the marker. If you owe more to the LOC at the end of your stay then like a charge card you will get a bill in 2 to 3 weeks. Then have so many days to pay off the marker but if you don't pay by the due date they will automatically take out your bill from your checking account.

    I like using the line of credit. It is like using the casino's money and I don't have to bring up a lot of money for my vacation.
     
  4. JeJas

    JeJas VIP Whale

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    To OP:
    You are actually asking about Front Money vs Line of Credit (LOC).
    Marker generally means the same as LOC.
     
  5. SH0CK

    SH0CK Stylin' and Profilin' Quasi Tech Admin

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    I've updated the title of this thread.
     
  6. Drewm1972

    Drewm1972 VIP Whale

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    I'm one for using casino markers I use it MGM property's Bellagio, Mirage, Aria and my local MGM property.. they refer as "marker" not a LOC (they use dollar amount limit you are allowed to drawn up to, this may confuse people LOC) because you actually signing a check made out to casino and they deposit (they allow up to 30 days) the check after you signing it (you usually pay it after your wining) and with my experience with MGM they most rely on "everyday average balance" on your bank account and they do also pull your credit report to determine the "limit"
    I always have used markers and I think it's awesome system. Hopefully it works out for you!
     
  7. mrem3200

    mrem3200 VIP Whale

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    The first time I used a LOC (at a CET prop) a few years ago I was expecting a bill. After a few weeks I didn't get one and called either my host or the casino credit dept (I don't remember which one), they told me...no I wouldn't be getting a bill and that instead they would just present the marker to my bank and it would be taken out of my checking account. Which is what they did.
     
  8. makikiboy

    makikiboy VIP Whale

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    Interesting. I wonder if this thing depends on the casino or company. I take out markers at the Boyd downtown properties whenever I go to vegas. If I don't pay it off before I leave I usually get a bill from them a few weeks later.
     
  9. Drewm1972

    Drewm1972 VIP Whale

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    Yeah MGM property's does same thing they bill you after two weeks then I just call them and have check deposit very simple. I guess it depends on which company
     
  10. Imperial_Palace_King

    Imperial_Palace_King High-Roller

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    I prefer to use front money.
    I never keep a lot in my checking accounts so the LOCs I've been offered just haven't been very big.
     
  11. nostresshere

    nostresshere Mr. Anti Debit Card

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    How much are we talking about here?
     
  12. lordgaino

    lordgaino Tourist

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    You can't beat the convenience of a LOC! I set one up for the first time last year and now I wouldn't do it any other way.
     
    Last edited: Nov 4, 2016
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  13. Patman

    Patman High-Roller

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    I always use a marker but partly for different reasons that most. It's very convenient and yes you can pay it off before you leave. If I have a balance owing (which is probably 75% of the time), I just write them a regular check to cover it off. You can leave it and they will either bill you or just draw off your bank account it was set up against.

    Few things with a marker though. From what I read before I set my first one one, they look at your minimum account balance (for up to 6 months) to determine your marker limit. It also must be a personal checking account. To get the cashier's check you would have the money, but do you maintain that balance in the account? Once it's set up they won't usually check again if you use it (mlife told me 18 months and I think CET says 12 months on their site). Second, even though their are many Mlife and CET properties, the marker does not apply corporate wide. You need to set up a marker at each individual property that you need one. My last 3 trips I have stayed at 3 different properties and I mostly play where I stay, especially late night and morning. So now I have marker limits at each one (and a few others from before). Third, with a marker they restrict your use of the money to slots, VP and table games at that property (no poker or sports bets). I assume that with upfront money, it's your money and they should care what you do with it. I don't think they are too concerned if the amount isn't very large but I won't **cough, cough** comment on ways around this.
     
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