As approved by the creditors committee in the Bankruptcy courtOriginally Posted by redietz
As approved by the creditors committee in the Bankruptcy courtOriginally Posted by redietz
Yup....and I can for sure locate tens of thousands of people each week of the year who can tell a story of safely returning home after winning cash jackpots. There are people who thrive on worrying about things that have little chance of ever happening.Originally Posted by jbjb
Oh no doubt. I'm just pointing out it happens and it happens more than you think.Originally Posted by Rob.Singer
And by no means am I justifying casino credit. I don't have any nor want it for many other reasons. Main one being that I don't want them knowing my financial business.
OK.
There are people here who defend having casino credit and will do so until they've lost their very last dollar and beyond, by using the excuse that casinos don't do a normal credit or employment check--but having cage people know your bank account number and avg. daily balance is somehow a good thing. It makes no sense.
Rob there are people who use casino credit for only one reason: convenience and safety. Oops that's two reasons. Get off your soapbox about addiction, doing things the casino way, and problems with gambling. It's old and tiring. If you don't want a credit line and would rather travel with cash good for you.
I think Rob's argument is that most people don't have the discipline. I'll agree with that.Originally Posted by Alan Mendelson
Actually--markers help me to maintain discipline. 80% of my credit line is my limit, and even if I were to exceed that, then my credit limit is my limit. Otherwise, what is to stop me from ATM'ing all day. But because I have a line of credit, I have never used an ATM in a casino other than to break a 100 into smaller bills. Now I have discipline anyway, but I don't think a credit line changes whether you have discipline or not.
You can bring cash to the casino or not--but if you limit your exposure to the cash you bring it is the same as limiting it to the credit line. It is the ATM that causes problems.
I used to just maintain a bank account in Vegas, so my risk in carrying cash was only from the bank back to the hotel. But I soon realized that it was a waste of time to go to the bank when I could simply draw a marker.
Regnis, one of my fave moments in LV had to do with me knowing I had a bank account there I could use. This was pre-internet. I flew in with twenty bucks in my pocket, rented a car, and drove to the bank. I was baffled as I squinted at the sign on the door. Evidently it was something called Nevada Day and all banks were closed. No ATM cards on me, and I would never, ever use those credit card advance machines, so I milked my $20 for a day. Back then, I could get a hot dog at Westward Ho for a buck and shrimp cocktails.
Nevada Day almost got me again a few years later. I never circled the damn thing on my calendar.
Not using casino ATM's ever--I'll agree with that all day long.
Not admitting that casino lines of credit are a casino tool aimed at weak and addicted gamblers as a way of getting them to gamble more and/or make seat-of-the-pants decisions to go to casinos to get their action fix--total baloney, and everybody here knows it.
Classic!!! In those days the buffet was only 2.95 too.Originally Posted by redietz
Rob final question: do you object to a credit line if the only issue (repeat: the only issue) is carrying cash?
You already know the answer to that, and the only reason why my position is seemingly so problematic to you is because it hits too close to home. And everyone sees that. This is a gambling forum, and some people actually truthfully answer and comment on the tough questions.
I don't know about you, but if I'm walking through the garage and someone pops out of nowhere, pushes a gun into my stomach and tells me to empty my pockets....well, I don't have many options....and trying to defend myself is probably one of the stupidest options I can do...unless I value the cash more than my life or well being.Originally Posted by Rob.Singer
Or perhaps the big winner valeted his car. The thugs wouldn't have to get their car valeted and pick it up. It wouldn't be too difficult for someone to be waiting out there in the valet area, especially at a big casino like Caesars or Aria to spot the car the winner gets into. Of course, following the person home isn't going to be a cake walk. You'd be surprised how smart some criminals can be. And you'd also probably be surprised as to how stupid some criminals can be. But even if they are stupid and "robbing someone in the elevator wouldn't make sense" doesn't mean it can't/won't happen.
I remember in high school, a friend of mine had just gotten her driver's permit and was driving (me in back seat, her father in shot-gun). I don't remember exactly what happened, but I think someone tried to cut her off and she tried to not let the other car in the lane. Her father said, "Sure, you might be right. But being right is no good if you're dead."
Personally, I don't use markers. I always play with cash. I'm not paranoid when it comes to carrying cash or the possibility of getting robbed. But I know it's a real possibility. And I also know it's safer to play on credit than cash.
Although, I do agree with you regarding ATM's -- never use them.
Last edited by RS__; 07-05-2015 at 02:32 AM.
Just one question for the cash advocates: a wad of $10,000 is not something that fits in a wallet or even a jacket pocket. $30,000 would look bigger than a six-inch sub. I remember watching a video poker player getting 40,000 cash for a $10/coin Royal. So do you guys really walk around with a baby bump?
A Vegas casino force-closed my safety deposit box a number of years ago, and I had to carry $147,000 back to my car.
I did it myself with no security. I had a big jacket on, but it was summer time!
I then got in my car and drove to LA with it, and move it to one of my boxes there! I didn't stop to go to the bathroom, but I did fear that I might get into an accident, be unconscious or dead, and the first responders would steal the cash!
It got there safely.
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The most I've ever carried to the casino with me was $30-40,000 when I was a bit too young to think seriously about how dangerously idiotic it might be. I feel alright with carrying up to $5,000 when necessary. Anything beyond that I start to feel slightly uncomfortable about it. Paper money is slowly becoming obsolete and everything is becoming pixelated anyway!
Rob,
Do you have the same hate on for credit card companies? They would operate on the same theory as casino credit. People spend beyond their means. The majority of credit card holders are not paying off their monthly balance. Paying a $10 minimum and accruing interest penalties at 20% is crushing.
Just a side story on a related note about carrying cash:
When I was in my mid-20's I stayed in LA for a year. Found myself a cheap apartment just outside of west LA with the landlord's office directly across the street from my rental unit. Really nice older guy with a big white beard who drove a Jaguar sedan seemingly straight out of the TV series The Equalizer (think Edward Woodward with a beard).
Right after I signed the lease, I pulled out a modest wad of $100's (maybe $3,000 or so) to pay the security deposit and first month's rent. With a sincere look of concern wrinkled on his face the landlord winced, "Son, you shouldn't be carrying so much cash around like that. Dangerous in the city." At the time I just smirked at the suggestion with a sidelong glance at the office wall commanded by big whiteboard map with lots of red markers all throughout Los Angeles.
Turns out I unwittingly scoffed at one of the larger real estate developers in LA with a wide mix of residential apartment complexes, some office buildings, and other assorted commercial real estate worth $75-$150 million in his portfolio. All the red dots littering that bearded, grandfatherly landlord's map were his own properties. Maybe he knew what he was talking about when it came to carrying cash?!?
Today's Note of Irony:
Anybody who comments on a public forum about how much cash they are carrying, will carry, or how they carry it, unfortunately is now better served by not carrying cash and using markers.
Second Note of Irony: Rob is too smart to publicly announce that he carries or will carry cash, unless he's not really carrying it.
I always knew in the darkest crevasses of my psyche that Alan's Best Buys Las Vegas Forum was infested with violent felons who prefer alleyway muggings. Shame on my excess bravado.Originally Posted by redietz
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