PLAYING BLACKJACK USING A MARKER
By Henry Tamburin
You’ve probably witnessed this scenario many times at a blackjack table. A player walks up to the table, sits down, and tells the dealer that he wants a marker for a thousand dollars. If you don’t understand what’s going on here, read on and I’ll explain the ins and outs of marker play.
When a player asks for a marker, he is basically asking the casino to loan him the playing chips that he will use to bet with. When the player gets his chips, he will also be given a counter check (this is like a bank check) to sign. You are expected to buy back your marker from the casino after you are done playing (meaning you pay the casino back the chips that they lent you). You would do this transaction at the casino cashier or cage. However, if you lose and don’t have funds to pay back your marker, the casino will be able to present the counter check that you signed to your bank to get funds from your bank account equal to the amount the casino lent you (i.e. the amount of the marker).
Before you can request a marker at a table you must establish a credit line with the casino. This should be done a few days before your visit to the casino. You can either call the casino’s credit department and request that they mail you a credit application or most likely you’ll be able to print one from the casino’s web site.
Filling out the application for casino credit is similar to filling out an application for a credit card. Besides asking for personal information (name, address, phone number, employment status, etc), you’ll need to write down your bank account number and the name & address of your bank. You also have to state the amount of credit that you want and it’s important that you have at least this much in the bank account you listed on the application. Obviously, the casino wants to make sure that if you request a $3,000 line of credit, that they can withdraw that amount from your bank account.
Once you sign the application and send it off to the casino, they will do a complete credit check on you (all casinos use a Central Credit agency). Don’t be surprised if some casinos also require that you send them a voided check along with the application. Normally within a few days you will be notified by the casino that your credit application has been approved. If there is a problem, you’ll also be notified.
Once your credit application has been approved and you have established a line of credit, you can now take out a marker up to the amount of your credit line. Here’s how it works at the table.
You tell the dealer that you want a marker. The dealer will call over the floor supervisor who will ask you for some form of ID (usually your Player’s Card or drivers license is sufficient). The floor supervisor will ask you how much you want the marker for, then quickly complete some required paperwork including giving you a printed counter check to sign. Once you sign the counter check, the floor supervisor will instruct the dealer to give you an amount of chips equal to the amount of the marker. You can then use the chips to bet with.
If you wind up a winner, it is customary to repay your markers before you leave the casino (do this at the casino cage). The casinos generally frown upon players who take a marker (a loan), win, and leave the casino without repaying their marker (essentially getting a free loan from the casino).
What happens if you take a marker and lose your chips? You could repay part of your marker by personal check before you leave the casino. Or you could choose to repay the marker once you get back home by either sending the casino a check, or wiring the funds to them. The time frame for repaying a marker depends upon the amount of the marker. Generally if the marker is for a thousand or less, you are expected to pay the casino within a week. For > $1000 up to about $5,000, you have about 2 weeks, and above $5,000, the time frame to repay the casino is usually 30-45 days. These are just guidelines, you should always check with the casino for the exact time requirement to repay a marker.
If the casino doesn’t received your payment within a specified time frame, they will send the counter check that you signed to your bank and the money will be withdrawn from the account you listed on your credit application.
If you don’t have enough money in your account, you are in
serious trouble because that counter check is legal tender and bettors can be
prosecuted criminally for not paying casino gambling debts. The state of
The advantage of using markers is you don’t have to carry a lot of cash with you. It also is a lot better than getting money from those credit card cash advance machines that you’ll find in casinos with their high fees. Plus you set a loss limit equal to the amount of your marker. And casinos look favorably on players who use markers because they believe the player is willing to risk the amount of his credit limit when he plays.
But there is a risk of wagering too high when using markers. So you must have discipline to control your betting when you use them. If you don’t have the discipline, then don’t apply for credit, and don’t use markers.
Henry Tamburin is the author of the best-selling book, Blackjack: Take The Money and Run, editor of the Blackjack Insider e-Newsletter, and Lead Instructor for the Golden Touch Blackjack course. For a free 3-month subscription to his blackjack newsletter with full membership privileges, visit www.bjinsider.com/free. For details on the Golden Touch Blackjack course visit www.goldentouchblackjack.com or call 866/WIN-BJ21. For a free copy of his casino gambling catalog featuring over 50 products call 888/353-3234 or visit the Internet store at www.smartgaming.com.