Yes. If you don't have one anywhere. But even opening a new line if your Central shows solid history they will open a line without even checking your bank.

 

The phenomena being described is not only in Vegas. Most people are fiscally ignorant and live paycheck to paycheck, regardless of income. My Dad always warned me against that urge he called it "being broke on a higher level". IE bigger house, newer car, no more in savings than the next guy.

I gamble well below stakes that I could afford. Three day roll of 5 grand or so play 50 dollar tables and some slots at the 2 dollar a pull or so level. Always toss 100 a day and pull 5 dollar WOF just to do it. Some days I will buy in for 2k and play black chips for less time just to keep my play consistent but I know if I ever upped my roll pandora box would kick in...

 

Very interesting thread. I've never really thought of my BR in terms of my net worth or net income. My BR is about 3.3% of my net worth now that I've thought about it. I've built it up over the course of the years just socking away some of my discretionary earnings. It will probably continue to go up as my earnings do. First thing I do with an increase in my earnings is to increase my savings. I know I am ahead of most in terms of savings, but definitely not at the top. I am comfortable where I am in life. I have a house that is great for me, I drive a nicer car because I am in it for about 1.5 hours a day at least. It will be paid off by the end of the year and I hope to put another 100k miles on it.

I tend to agree with most comments on this thread that there are way to many people that live beyond their means or paycheck to paycheck. Our consumption society just doesn't value saving. It is seen everywhere, not just the casinos. Some interesting topics on here lately about maybe even some of us could use a change in habits. I hope those that want to make the changes can and are still able to enjoy Vegas in a healthy way. Keep up the good discussion.

 

I would say that first off it would be incumbent on anyone to have the amount they draw on their LOC markers available in the event of a very bad visit.
So a $750K line that gets maxed better have the cash pretty readily accessible.
Sitting on 7 figures liquid for a situation to arise makes sense as long as the sitting is months and not a year IMHO.
I have a business acquaintence who is forever moving his money but always has Nate level cash available, but he does find situations with regularity.
In today's world the financial markets resemble a true crap shoot more than I can recall.

 

So what you're saying is cash out the 401k and play Craps?

Hard 4 on the hop!!!!!

 

Speaking to an earlier point, years ago I was talking to my boss' boss about casino gambling. He said when he was younger and worked at Drexel he loved casino gambling. But when his net worth climbed into the stratosphere (at least compared to a lowly fx trader) his bets would have had to climb as well to get the same rush. With a young family he just didn't think it was worth it so stopped. I asked him if he missed it and said sometimes. I actually don't think he did miss it. He became a big player in stocks and then bought another company. He was still gambling but just playing another game.

I bet less than I did 20 years ago, but still get the rush as I make a lot less and I've got 20 years less to make back that blown BR!!!

Just my 2 cents.