Marker Question: How much in bank?

I agree, that is extremely lucky to never have lost over $400 on 25k in. I've dropped $1500 on 10k in playing 9/6 JOB single line once or twice. I'd say losing $1000 is not out of the norm if you're short a few quads.

Don't know how many sessions that involves with not ever losing over $400, but if it's more than 6 or 8, that's very, very fortunate.

 

It sounds like he DOES want to do "diamond in 2 days" by putting $25k in 2 days in a row. Certainly, it is possible to win while doing that or lose less than $2000. It is also quite possible to lose MORE than $2k, but the OP has evidently been lucky in the past.

Is he aware of how bad VP tables at CET props in LV are? Any "full pay" games are at $5 level ($25/spin) and require $25 coin in for one tier credit. The games at $1 level are lousy and will make it tough to get $50k through the machine without significant losses.

 

I guess I've been very lucky...
Especially since all my play days have always been on $ single-line 8/5 BP...
Like I said, I've been DOWN almost $1000, but with $600 more, I was able to get the quads in order to build back up...
I'm going to apply at a smaller casino, where I'm already known, to see if they'll give me $1000, then use that to get "DI2D" and once we have diamond at Harrahs, THEN I'll apply at Harrahs (more likely to give LOC to a known Diamond player, rather than an unknown with no play history)

 

Do they even have 8/5 bonus poker for $1 at Harrahs? That is a decent game, not the type CET is known for in LV...

 

Do you mean a smaller CET property in vegas or one of their regional casinos? I think the only Vegas property CET has that is smaller than Harrahs (at least on the tier scale) is the Quad. And is Quad even part of TR (I don't gamble there, but I recall the one time I played at IP four years ago, they had a separate loyalty card)?

Let the Board know, but I suspect that if you can get a $1k LOC at Quad, you can probably get the same line at Harrahs, which seems to be your preference

 

No, I mean smaller casino, period. (NOT a CET casino)
Since were talking about making it on a set amount...
I've had better luck reaching $25k on $ single-line, than I have on 10c 10-play (both $5 a pop, and both 8/5 bp)...weird, I know...

 

quad is part of tr.the only one that wasnt was bills but thats gone now so all cet props are tr .

its only a grand cary cash .way to much trouble for such a small amount

way overthing this diad with 1grand up front.just have fun.

 

I guess I just don't understand what you are trying to do with these credit lines.

Your goal is to make diamond w CET in 2 days utilizing the 5000 bonus points/day after earning 2500 TCs. Fine, makes sense.

But first you're going to open a $1k credit line at a casino unaffiliated w CET. Why? If you draw markers there you are expected to play there, not at CET.

Then you're planning to play $50k through VP machines at a CET store, and you may win, you may lose a little, or you may not get there on the $2k you have budgeted. THEN you are going to ask Harrahs to open a $1k line for you there. Why? If you need $1000, rip it out of an ATM and save all of this hassle.

 

When you get a LOC at a casino, are you required to pay that back from your checking account or could you use your CC to pay it back? It might be worth getting a LOC for the points I can accrue on the card in case the trip turns bad.

 

Reno is only just over 3 hours away for you. If Harrah's in Reno has better $1 VP pay tables then that might be a better option to make DI2D. Check your TR calendar for cheap or comped nights. My wife and I earned a massive 45 RC (10 TC) and have comped rooms at Harrah's on our calendar

 

this is just really bad info. when you apply for a marker account at a casino, they expect you to play there. it's not a credit card, lol. you can't just open an account, take all the cash out and take it over to Harrah's and play there. you draw markers at their casino and play there. CLs don't even transfer across properties. if you want to play at Harrah's you apply for a CL there. if Caesar's you apply there, etc. you have to have a separate line at each casino you want to play at.

if you were able to open a line at some small casino for 1k, they would probably limit you to taking out a certain amount of cash at a time. usually it's like 10-20% of your line in cash at a time. when you go to pull more, they look to make sure you lost that money at their casino. if you show no play at that casino because you gambled it all at Harrah's, they will not give you any more. additionally, even if you were able to get the full 1k cash out of them before they caught on, when it comes checkout time they'll see $0 loss at their casino, but $1k in markers owed and know exactly what you did and likely close your marker account and ask for a check to cover the amount on the spot.

also, thinking that making diamond is going to increase your odds of getting a CL or something is just plain wrong. your status means nothing as far as getting a CL open. you can get a CL opened without stepping foot in the building if your bank account supports it. the issue you're going to have is 1k is not worth it to most casinos to bother with a line. if you were talking 5-10k or more, I'd tell you to submit an application tomorrow and you'll have your line open in under a week.

you need to forget about a CL and take the extra 1k in cash and be done with it. honestly with all the scheming you're talking about, it sounds an awful lot like you're trying to use the CL as like a cash advance because you don't have the other 1k in cash right now. if that's the case, you need to stop with that plan because it will only go south in a hurry.

 

LOL! no, you can't charge it to your CC! the main reason is they have to pay a merchant fee of 2% or so on CC transactions.

 

When you sign the marker in exchange for the chips, you are basically signing a check. Its a negotiable instrument made out to the casino that you have signed. If you don't pay them back to redeem the marker, then they present that instrument to your bank and get paid. You can't pay it back with a credit or debit card. You either give the casino chips, cash, or a replacement check in return for the marker you signed

 

Thanks for clearing that up.

 

The line of credit application is on line for each CET prop. There is a minimum LOC and its over 1k. 1k is the minimum draw on a line at a time. This was at Ballys last summer.

 

Thanks for all the info guys...
Looks like I'll just pony up the extra bankroll for right now, and not play on the casinos money to earn freebies.
I'm glad everyone is so concerned for me.

 

LOL! Gambling on a credit card, wouldn't that be nice? Forget the markers, maybe they could set it up so you can just swipe your card thru the TITO....

 

Are you positive there wasn't an inquiry from them on your credit report? I would guess that at a minimum they would do a soft pull, but you wouldn't see that on your credit report.

I'm interested in opening a LOC instead of carrying the amount of cash I have budgeted for my upcoming trip. I had a LOC at another property but I last used it almost three years ago, and when I called about using it they said they would have to do a hard credit pull to reinstate the line.

I have good credit and am fine with a soft pull, but I don't want any new hard inquiries on my credit report right now. I'll be at both CET properties and MGM properties on my next trip so I would be interested in a LOC at either.

Thanks

 

All the Vegas casinos use Central Credit - it is like Equifax or Experian, but specific for casino credit. It is likely that if one casino told you they would do a hard credit pull, then all of them would (not directly, but via "Central Credit LLC").

However, if you apply at one casino first and get approved, and then apply at a second casino... they will not pull a report twice - even if one is a CET casino and one an MGM casino (because they both use Central Ctedit)

 

I'm 99% sure there wasn't any soft inquiry, I get alerted to any because in my work those are part of the due diligence potential investors do on some of us so we like to know when it happens. I never saw any inquiry from a casino or Central Credit. But others have said, they have. So YMMV, its better to just assume they'll check it in case that's an issue.

Ha! Don't fall into that type of thinking. It is YOUR money, whether you pull it from a CL or pull it from your pocket. Same difference.