Originally Posted by rwesty
How are the financial transactions generally handled for large amounts? Say you want 10k to gamble with at the craps table. Is the most common way to show up with cash and wait and have them count it out? Or do you wire money to the casino that they verify and give to you at the table? Or some other method?
How about 200k?
Another common way (if you have the money in your bank account) is to set up a credit account with the casino's cashier before you go. They have an application, and they check the balances in your bank account. Then they give you a credit line, for example $25,000.
Then when you go up to the craps table, you just say "give me a marker for $5000", and show your drivers license and players card. They print out the marker that you sign, and then give you the chips.
This is a real convenient way to play. If you win, you just give them the chips back, they give you the original marker, and you tear it up. If you lose, you have a set amount of time after you go back home, usually between 2 weeks-1 month, to send them a check for the markers. If you don't, the markers function just like a check from your checkbook, and they cash it themselves against your account.
This way you don't have to wire money or carry large amounts of cash and get an interest free loan until you get home and pay.