Casino Credit: What is it and Should You Get it?

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First things first – most land-based casinos in the UK don’t currently offer in-house credit. Nor do online casinos, unless we’re talking the occasional high-roller who spends a small fortune.

But if you find yourself hitting the tables in one of the world’s most iconic gambling meccas, casino credit may indeed be available. A foreign concept to most, but also surprisingly simple.

As for whether or not it’s a good idea, the answer depends on several important factors. Though in most instances, keeping a safe distance from casino credit is usually the way to go.

Again, unless you are a high roller with bottomless pockets.

What is Casino Credit?

As the name suggests, casino credit refers to an in-house credit service for members of any given casino. The idea being that instead of walking around with pockets full of cash, you open something of a ‘tab’ with the casino. 

When you head to the cashier, you simply show them your ID and ask for the chips you need. The costs are then added to your credit account, which is either settled when you leave or at a later date. 

Effectively, the whole thing works a little like a credit card or overdraft, which you can only use in-house. Convenient indeed and safer than carrying cash, but are there really any big benefits to casino credit?

Arguments in Favour of Casino Credit

Again, the safety and security aspect of casino credit can be appealing. If you’re planning on spending sizeable sums of money, you might not want to carry it around in cash. Just as bringing your full array of credit and debit cards to the casino might not be your preferred option. 

With casino credit, you’re able to play any time and for any duration, without carrying a penny on your person.

In addition, you’ll often find that casino credit comes with certain perks and privileges. With a typical a line of credit, you’d be expected to pay interest by way of a fixed APR. With casino credit, it’s often the opposite – you actually earn interest on the money you spend. As they want you to spend as much as possible, they’ll happily toss the occasional reward your way.

Opening a casino credit account could also lead to preferential treatment in general. Discounts at the bar and restaurant, additional cash back incentives and better treatment on a day-to-day basis. 

There’s also the option of setting strict limits on a casino credit account, to curb the temptation to take things too far. So you could argue that it’s simply like bringing a regular credit card to the casino, only with none of the interest charges and plenty of perks added on. 

Arguments Against Casino Credit

On the flipside of the coin, there are those who advise avoiding casino credit at all costs. The reason being that in some instances, casino credit is indeed used to encourage players to spend more they can afford to. 

But at the same time, the same can be said for most credit facilities – all of which are disproportionately in favour of the provider.

Casino credit is often marketed on the basis of the additional perks and privileges of signing up. All of which motivates players to do just that, who may not really need such a facility at all. Though once they’ve signed up, they end up gambling with far more than they intended to.

Gambling on credit is something that should be approached with extreme caution. Replacing coins and notes with a ‘virtual’ line of credit heightens the likelihood of taking bigger risks. And while it’s possible to set limits to prevent yourself getting carried away, you can always simply remove these limits at a later date.

Who Can Get Casino Credit?

Most casino credit facilities target big spenders. If you only play roulette on occasion and rarely bring more than £50 along for the ride, you won’t get much from a credit line. Nor are you likely to be offered one, as you’re not exactly the highest roller in the establishment.

Typically, casino credit is offered to those who spend the most and those who stop by most often. Basically, those the casino wants to keep happy and motivated to spend their money.

Should I Get Casino Credit?

If you are eligible for casino credit, it’s entirely up to you whether or not you go ahead. But is nonetheless worth asking yourself a few important questions, before submitting your application.

Examples of which include:

1. Do I really need casino credit, or am I doing just fine with the usual cash and cards?

2. What is my main motivation for signing up for casino credit?

3. What benefits are on offer that make the facility worth taking advantage of?

4. Have I carefully checked all the attached terms and conditions?

5. Does the casino impose any minimum or maximum deposit/withdrawal requirements?

6. Can I trust myself not to get carried away with money that isn’t really mine?

7. Am I being offered casino credit as a reward or to encourage me to spend more?

8. Do I really gamble often enough to get any real value out of casino credit?

In addition to the above, it’s also advisable to head online to find out what others are saying about any given casino’s credit facilities. You’ll usually find plenty of customer reviews and recommendations, helping to steer you in a sensible direction.

In a Nutshell…

Taking out casino credit is no different to taking out any other credit facility.  What you effectively get is access to someone else’s money, which you borrow temporarily at the tables.

The only difference being that you’re unlikely to be lumped with a high APR – you’re more likely to be rewarded for spending the casino’s money. 

But unless you genuinely stand to benefit from casino credit and have mastered the art of self-discipline, you probably don’t need it. Casino credit is a high-roller badge of honour, but tends to have limited practical value for most casual gamblers. 

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