Wondered if any of you had thoughts on the advisability of having a credit line. On the forms I"ve looked at, it appears that you might have to authorize them to draft a bank account for repayment, unless you clear the line with your own check or cash before leaving. In any event you are leaving a win/loss trail for the IRS to follow, it seems. If you are a high roller, how do you avoid carrying an illegal sum of cash in your carry-on? I think it's something like $10K. Do you have to declare it? What about having a 401G savings account at a major national bank, so you can withdraw and deposit, in Vegas, to avoid holding a lot of cash during travel? And, if you look at the forms, Nevada law governs all disputes, so you have a long way to travel if legal issues arise. Just wondered what some of the more experienced players think about this. I suppose a line of credit is no more information for the IRS than your player's card, where the house keeps track of your wins and losses.

Alamo

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Posted by: Pointman on March 10, 2012, 9:47 pm

There is a product called VIP Preferred. It's like taking cash from your bank account. You have to go to the casino cage to get the money. Basicly, your just signing a check. Eventhough you do it in a casino, you don't need a players card. It's strickly a transaction between VIP Preferred and you. Many casinos all over the country use it. Some small places do instead of a line of credit.
I'm not promoting the product, just letting you know there is another option out there.

The con of there service is that you can't deposit the money back in at the casino. The pro is you could have a 14 day delay from when you get your money till they draw it out of your account.

If you use this or any service, LOC etc, Only allow access to your gambling account. Never expose them to any other accounts you may have.