High Limit Online Gambling and Casino Credit
The terms "Online Casino" and "Credit" together in the same sentence are likely to set alarm bells ringing in the vast majority of people's heads. This is due to the fact that many people perceive online casinos as too much of a risk and temptation as it is in which to lose large amounts of money which you already have in your bank account, but the thought of actually gambling with borrowed cash which you do not even have and will require paying back is a step too far.
Casino Credit Requires Discipline
There is no doubt that for a large number of people casino credit would be a disaster, and would result in them losing far more than they could afford to. Even when playing for low stakes a person could easily run up a large gambling debt, never mind playing in a high limit online casino where the potential for losses are staggering. For this reason, any casino whether online or land-based, will often only offer credit facilities for trusted VIP gamblers who are usually regulars and have shown documentation such as income statements and proof of identity. Whilst it is bad news for an individual to incur gambling debts which they would struggle to repay, it is also not good business sense for any casino to offer credit to customers who cannot or will not repay it when it becomes due.
For many casino credit will be out of the question even if they wanted it, including at a land-based bricks-and-mortar casino where it will usually be easier to get credit than in an online casino. That said, certain high rollers who regularly play for high limits and consistently prove to the casino that they can afford such large bets will often be provided with a line of credit by that casino. After all, the house edge on many casino games means that more often than not the casino will take in more money than it has to pay out, which means it will do all that it can to encourage its big spenders. In this sense casino credit is similar to department store charge cards which provide credit just for purchases at their store, in that they want their regular spenders to keep on coming back to them rather than going to a rival.
So whilst high limit gamblers will usually find it easier to obtain credit from the casino, any individual regardless of their wealth and financial status should seriously consider whether credit is wise for them and their gambling discipline as the potential for unmanageable losses is huge. Whilst the casino itself should perform due diligence and checks beforehand to ensure that the individual can afford it, the responsibility still lies with the person themselves to ensure that they do not abuse it and wager beyond their means. Casino credit is only suitable for those who can easily afford to repay any gambling debts from their disposable income, which means the credit amount should be small in comparison to their earnings. This will vary tremendously from one individual to another, which again is why the onus should be on the player themselves to only apply for and accept a suitable amount.