Credit line and net worth aren't directly related. It's just against how much cash you usually keep in a checking account. My credit line in LV is microscopic. Basically the minimum on the application. My networth is tied up in my house, 401k and cash in a brokerage account. As soon as I pay off my car, more money will be redirected into my discretionary (i.e. Gambling) and savings budget.

 

That's why the casino offers more "incentives" for depositing large amounts of front money and playing to them. It saves them the cost of collections.

 

Well, if someone has $500K or a $1M LOC, to have that much liquid would be costing them just a bit of money to have all that principal under their bed.

 

I was going to do FM this trip first time. I've never really considered markers against my checking account or FM but eventually it gets annoying pulling large sums of cash out and (hopefully) depositing it back in a week later always wondering when DHS is going to come talk to me lol. I can see where never touching or seeing it might make it less valuable to you.

I'm very disciplined normally with money, and budgets with only one slip up. Not being able to pull another marker out if I get felted actually is a good thing. I don't want to go to the room and get more moolah, I only carry the day's buy in with me.

Now I'm going to have to think long and hard about this for the next week or so, you've really made me think here about ensuring I don't lose the value and checks and balances I put in place to make sure I don't go full on tilt. I've only gone back for more money once and swore that was the last time - did not like it.

 

In this low interest rate environment sometimes it is better to have cash to take advantage of situations than in other things that might lose your principal.

 

To you guys with larger credit lines, do you always keep that cash just sitting in a checking account that earns virtually no interest? Why not put that money to work and just do front money when you want to gamble? Do casinos provide better service/comps for credit line players vs front money players?

 

Yes, exactly - didn't see this before making my long lost. This is what my thought process is. Why not put that money to work?

 

If you have good payment history they don't really care about your bank balances. They know people don't keep their money in their checking account.

 

Ahh this makes much more sense - thanks Shifter

 

But for opening a line for a certain amount for the first time anywhere if you dont have one, they do care and look.