One of the main reasons why the Korean government banned gambling is the negative effect it causes its citizens. One of them is resorting to loan sharks to finance their gambling habits. Still, many gamblers consider having a casino credit line advantageous for them as means of their improving their gambling capital.
Some casinos permit you to play even if you don’t have a bag of cash with you. Through credit terms, you will be able to avail in three different forms in a casino: front money, line of credit, and front money. You must also be aware that not everyone is permitted to benefit from each form of credit, and not all casinos have available loans to offer.
A deposit account is also known as front money, in which you can deposit your cash at the cashier (casino cage). It is the same as opening a bank account but without any fees incurred. When you sign a marker, you are allowed to withdraw the money any time you want to play. You can also easily add money to your account, and there’s nothing to pay back because you are using your own money.
Much like a car loan or a mortgage, the casino will lend you money and issues an agreement to be paid back within a specified deadline. It will be a prerequisite for the casino to investigate both your credit history and bank account to ascertain you’re an eligible candidate.
Applying for a line of credit gives you a handful of advantages:
Here are some of the disadvantages of a Line of Credit:
In a loan application, it is imperative to fill out the application forms before proceeding to present you with the money. It is best to go directly to the casino group you desire to play.
You will have to provide this list of information:
You must fill out the application form online by providing all these details, and you must send it through mail or fax to the casino along with a copy of your driver’s license, a voided check, and an additional photo ID. As soon as you submit your information, the credit department will communicate with your financial organizations listed in your application. They will then ask the bank for an investigation and check your account. The credit management will require your bank to declare your average numerical balance whether it is “low,” medium,” or “high” to determine if you are capable of paying back your line of credit.
Any money borrowed from the casino should be paid back within the agreed date to steer clear of collectors and legal hassles.
If you want to avail of a line of credit at a casino, you must have at least the same amount of money in your bank with the total amount you are applying. The credit management also requires you to have good credit, which means you are paying your bills on time.
The casino would also want to know that you will play at a level with your credit-line worth. Meaning, if you usually play for a short period and never lost more than $500 in a day, the casino will have a hard time giving you a $10,000 credit approval. But if you are willing to lose $6,000 or more, the credit management will be more than glad to provide you with the opportunity to lose some more in your next games.
Also known as check cashing credit, you can use this casino loan to play. It resembles like a traveller’s checks that have a 30-day limit for you to pay back your loan and are mainly IOUs issued out to the casino. A marker is a loan without any interest charges. You can avail of another marker if you pay your previous loan on time. Otherwise, the casino may opt to advance your account to your bank for payment whether they will advise you or not about this procedure.
Using markers properly can be very beneficial for both parties. It is essential to understand the specific rules, limitations and potential pitfalls of availing markers. You must also be sure about your capacity to engage in such a transaction.