What is Credit?
In the wider world, credit is the ability to obtain services or goods first and pay for them later. In gambling and casinos, credit is sometimes available to casino players who can demonstrate that they have the funds available to pay later. High-end casinos often offer a line of credit to their regular players who are known to be big spenders. Credit is made available through prior arrangement and allows players to spend at the tables without carrying cash. Most casinos only offer credit at the manager’s discretion. In the online gaming world, credit at casinos is less likely to be made available but there are some establishments which do offer this to their most loyal players.
Credit is a system whereby players at casinos can access funds, and pay for them later. This allows players to attend casinos without carrying cash and gives high-stakes players greater freedom and security while they visit casinos. The credit line is usually arranged by speaking with the manager beforehand and setting up payment details with the cash desk. Players can then attend the casino and be issued with chips to play, and the payment for play will be made at a later date. If the player wins more than they spend, the credit balance will be wiped and the remainder of the winnings made as payment. If the player loses, payment will be taken from the current account or credit card supplied.
Credit is also used to describe payment cards which may be used for gambling. Many gaming sites do not offer credit card payment facilities or make a higher charge for the use of these cards. This is because a payment on credit is riskier for casinos, and can lead to losses if a payment is not honored. Credit is issued at the games provider’s discretion.