Casino Markers: A Free Guide

If you frequently visit a brick-and-mortar casino, you might be familiar with the term ‘Casino Marker.’ It is basically the credit that casino offers for zero interest. It might sound appealing due to the zero-interest thing, but loans from the casino will sure have some catch. And while you may not need to worry about it while playing online on Betway, you will need it while playing at a traditional casino – or even at home with your friends.

What are Casino Markers?

Casino markers are nothing but a kind of loan that you take from the casino. Gamblers opt for it when they need extra cash or run out of money while at the casino. In such situations, casino markers can come handy for quick cash. You have to fill up an application and casino will provide you with those colourful chips worth the credit amount.

This borrowed amount has to be returned to the casino within a month (typically). The casino grants these markers at your own risk. And to get those, you have to qualify for them. If your bank account is fat, you will encounter no problems while getting that credit. In short, if you are rich, you are unlikely to default, and hence it is easier to get the casino credit.

Perks of Casino Markers

If casino markers are pretty risky, why do people go for it? Obviously, casino markers have their own perks.

You do not have to drag around a briefcase filled with cash (it looks cool only in movies). You could just get some credit at the casino and repay it later. This is useful for those who are travelling overseas and do not like to carry so much cash.
Casinos think of you as a loser. Some casinos have attractive offers only for the players who use credit. By extending such offers, they try to figure out your loss appetite. If you can sustain losses, you are their ideal customer. However, the experienced gamblers who take home some winnings can benefit from this.
If you are a favourite with the casino, they might offer you some rebate or cashback on your losses (markers). Suppose, if you get a 10% rebate in your markers when you have lost, and you get to take home all your rewards, it’s an incredible deal. However, if you are planning to do so, make sure you take out only the marker and not the bundle of cash (if you have cash).
Another perk would be that if you have credit lines at numerous casinos (under the same bank account), you can withdraw from multiple lines at once. This will give you some quick cash with no interest. The money is enough to get you through a few bad days. However, this method comes with its own risks.

Drawbacks of Casino Markers

Let us start with the obvious one, if you have a gambling problem, stay away from casino markers. Getting extra credit can just get you deeper into the debt mire. If you are unable to repay the markers, casinos can be really pushy about their getting their money back.
The goons that casino sends after you to claim their money. Yes, this can happen to you for real. Even if the goons don’t come chasing you, you are likely to run into loads of problems as markers are legal instruments. In fact, defaulting on markers is a criminal offence in Nevada.
If you take markers from a casino, you have to use them at that casino. If you borrow funds from one casino and use them to gamble at some other casino, your credit line might be cancelled.
This might show up on the Central Credit report. And casinos do not offer zero-interest credit for playing at some other casino. However, you can use the credit from one casino in some other casino if they belong to the same corporate property.
The application asks for way too many details. Some gamblers may be hesitant to provide bank details or any other details. Moreover, if you wish to stay anonymous, then casino markers are certainly not for you.
You might end up getting a divorce with nasty allegations. Suppose, if you are about to get divorced and you also happened to have multiple credit lines. Your about-to-be-ex and their lawyer could use this against you as proof that you are a problematic gambler.