Seven days later, the casino may send the marker to the borrower’s bank, demanding payment.Īs long as the customer has funds, the casino may let him renew and expand the credit line.
The borrower then receives the $5,000 in chips or cash, whichever he chooses. By signing the marker, the applicant promises to repay the line of credit. Once approved, the applicant provides the casino with his personal bank account number and signs what’s known as a “marker,” akin to a check made out to the casino against a bank account. A person seeking a $5,000 line of credit simply fills out a credit application, authorizing the casino to check his credit and gambling history. Southeastern Connecticut’s Mohegan Sun and Foxwoods Resort Casino have credit offices. There are ATM machines for debit card withdrawals and credit card cash advances, and the casinos will cash personal checks.īut a more perilous way that casinos can reach into customers’ bank accounts is by extending lines of credit. Casinos make it easy for customers to tap into their bank accounts while gambling. But the first asset to disappear is often the savings account. Pensions, college savings funds, life insurance policies, even homes - anything that can be converted to cash - can be lost to the casinos. No personal assets are safe once a person develops a gambling problem.
