Pre-authorized casino credit instrument

• US 10,332,345 B2
• Filed: 01/19/2018
• Issued: 06/25/2019
• Est. Priority Date: 05/17/2012
• Status: Active Grant

• Current Assignee: Everi Payments, Inc. (Everi Holdings, Inc.)
• Original Assignee: Everi Payments, Inc. (Everi Holdings, Inc.)
• Inventors: Richards, Timothy Brian, Sullivan, Kurt Douglas
• Primary Examiner(s): Lewis, David L
• Assistant Examiner(s): Hall, Shauna-Kay
• Application Number:
  US15/875,566
• Publication Number:
  US 20180211482A1
• Time in Patent Office: 522 Days
• Field of Search: 463 16, 463 25
• CPC Class Codes: G07F 17/3244 Payment aspects of a gaming system, e.g. payment schemes, setting payout ratio, bonus or consolation prizes

Abstract

A casino credit access instrument comprises a source of funds for a player, such as for placing wagers to play casino-style games or to purchase other goods or services. The instrument defines a period of timed during which credit may be accessed up to a predetermined amount, defines a redemption period during which any accessed credit may be re-paid, and defines settlement terms if the instrument is not redeemed. Credit may be granted based upon financial collateral, which collateral may be executed upon to settle the instrument. The instrument provides a convenient source of funding for player at low risk to the casino or other lender.

Claims

1. A method of providing casino credit to a player, relative to a gaming system, comprising the steps of:

accepting an application for credit from a player, said application including information identifying said player and information regarding at least one element of financial collateral;

processing said application comprising determining if at least one qualifying criteria for issuance of a casino credit access instrument has been met;

if so, issuing said casino credit access instrument, said casino credit access instrument defining a maximum credit limit, a credit access period, redemption terms and settlement terms;

receiving a request for access to funds from said casino credit access instrument via an input provided by said player to an input device of a gaming machine;

confirming, via a system server of said gaming system, accessibility of funds in response to said request comprising determining that a current creditworthiness of said player has not fallen below a predetermined level;

when said accessibility of funds is confirmed, said system server transferring funds to said gaming machine in the form of one or more monetary value credits, said funds derived from said credit of said casino credit access instrument, up to said maximum credit limit;

permitting said player to wager said monetary value credits which are associated with said gaming machine and reducing a credit balance at said credit balance based upon said wagered monetary value credits;

permitting said player to redeem all or part of any credit accessed during said credit access period based upon said redemption terms; and

if said player does not redeem all of said accessed credit, settling said casino credit access instrument based upon said settlement terms.

2. The method in accordance with claim 1 wherein said step of transferring funds comprises transferring funds from a player financial account which is funded with funds based upon said casino credit access instrument.

3. The method in accordance with claim 1 wherein said at least one qualifying criteria comprises a base creditworthiness of said player.

4. The method in accordance with claim 3 wherein said current creditworthiness is the same as said base creditworthiness.

5. The method in accordance with claim 4 wherein said base creditworthiness and said current creditworthiness each comprise a credit score.

6. The method in accordance with claim 1 wherein said step of permitting said player to redeem all or part of said credit comprises transferring one or more credits from a credit balance of said gaming machine.

7. A gaming system comprising:

at least one gaming device at a casino, said at least one gaming device configured to present at least one wagering game in response to a wager by a player from a monetary value credit balance;

at least one account server in communication with said at least one gaming device, the at least one account server comprising a processor, at least one data storage element and machine-readable code stored by said at least one data storage element and executable by said processor; and

at least one casino credit instrument comprising data stored by the memory computer readable storage medium of said at least one account server, said data comprising;

(a) data regarding at last one element of financial collateral associated with a party other than said casino;

(b) data which defines a pre-determined maximum credit amount which is accessible by at least one identified player, which maximum credit amount is based, at least in part, upon said at least one element of financial collateral;

(c) data which defines a period of time during which said at least one identified player may access credit;

(d) data which defines a period of time during which any credit which is accessed there from may be redeemed and after which the casino credit instrument is settled;

(e) data which defines a minimum creditworthiness value of said player; and

(f) data which defines settlement terms upon which any accessed credit which is not redeemed is settled against said at least one element of financial collateral;

wherein said account server is configured to receive a request for access to funds from said casino credit instrument via an input provided by said player to an input device of said at least one gaming device;

said machine readable code stored by said at least one data storage element configured to cause said processor of said account server to confirm accessibility of funds in response to said request comprising determining that a current creditworthiness of said player has not fallen below said minimum creditworthiness value of said player;

said machine readable code stored by said at least one data storage element configured to cause said processor to, when said accessibility of funds is confirmed, transfer funds to said at least one gaming device in the form of one or more monetary value credits which are associated with said monetary value credit balance, said funds derived from said credit amount of said casino credit access instrument, up to said maximum credit limit; and

wherein said at least one gaming device is configured to accept input from said player of a wager of one or more of said monetary value credits of said credit balance and reduce said credit balance at said credit balance based upon said wagered monetary value credits.

8. The gaming system in accordance with claim 7 wherein processor is configured to transfer funds to said at least one gaming device from a player financial account which is funded with funds based upon said casino credit instrument.

9. The gaming system in accordance with claim 8 further comprising said account server receiving a request to transfer funds from said credit balance associated with said at least one gaming device and said account server redeeming all or part of said credit associated with said casino credit instrument with said transferred funds.

10. The gaming system in accordance with claim 7 wherein said minimum creditworthiness and said current creditworthiness each comprise a credit score.