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Grasping casino credit
ОглавлениеTo understand the lure — as well as the danger — of casino credit, you first need to understand it. Casino credit is no different from store credit, something most people take advantage of every day. To make shopping easier, many department stores offer customers a little plastic card with a line of credit. Similarly, the casino offers you a line of credit based on your credit report and the size of your bank account. This line of credit allows you to borrow money from the casino in order to gamble — either because your funds have run out or because you just prefer not to carry cash.
The whole casino industry is designed to make you forget that you’re playing for real money, which is why casinos use chips rather than cash at the tables. And taking the next step — playing against your line of credit — can move you one step further from the harsh reality that eventually you have to pay the piper.
Credit is convenient, yes. But, it’s also a very risky venture. First, access to credit tends to make some people spend more money than they otherwise would — both in gambling and in the real world. But with casino credit, the problem is compounded. If you buy a $300 sander from the local home-improvement center on your credit card and your spouse promptly persuades you that you don’t need that item, you can usually return it and get your $300 back. But when you borrow $300 from your favorite casino and lose it at craps, it’s long gone. Even worse is when you lose that $300, followed quickly by $600 more, and return home with bigger debts than you can handle.
Pop quiz. Have you ever been labeled as impulsive? If the answer is yes, congratulations on being spontaneous and unpredictable. This advice is for you, Mr. or Mrs. Life of the Party. Steer clear of casino credit. If you can’t even stop eating potato chips until the bag is empty, it’s safe to say casino credit may be another bag you don’t want to dip into.