CASINO CREDIT

Marketing studies have shown that retail credit customers will buy more than cash customers. The casino industry has recog-nized this fact in gambling as well, and caters to players who use significant credit lines. A player using credit will be given a slip of paper called a marker, upon which he or she fills out an amount and then signs. (The marker is a negotiable instrument, which can be presented to the player's bank for payment.) The safest way for the casino to let the player use markers is to have the player deposit the gambling stakes in cash at the casino cage on arrival. The stake is then returned to the player minus any markers that were signed during the stay.

For most players, casino credit is similar to the check-cashing privilege you may have at the neighborhood grocery store. You fill out an application for credit, which is sent to Central Credit for verification. Once your credit is established, you are allowed to cash checks up to your credit limit. The typical procedure is to sign markers during your trip and then settle them with a single check at the end of your trip

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The problems arise when a player is unable to pay for his gam-bling losses. Having credit lines at several casinos can be the cause of this. For example, a player with a ten-thousand-dollar line of credit at five casinos could lose as much as fifty thousanddollars, well beyond his credit line and ability to pay. In mosi cases, the casino will co-operate with a valued player to the poim of making compromises if there is a hardship in paying. Bi€ bettors with credit problems can still be allowed to play on a cash~ only basis if they agree to apply a portion of their winning,, (normally 50 per cent) to the outstanding debt.

The occasional player who has written an insufficient-fund: check will be the object of more vigorous collection efforts. A phone call or telegram will request that additional money be pui in the account so that the check can be 'redeposited. If it bounce, a second time, the casino will try more phone calls and letters Important credit debts may be turned over to a lawyer or collea tion agency where the player lives. There is little need to worry about strong-arm tactics from the casino. Legally, the Federa', Fair Debt Collection Practices Act, passed in 1978, bans the use of threats, telephone harassment, or other extralegal actions by credit collectors.

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