Gambling credit card and method therefor

• US 20020068624A1
• Filed: 12/06/2000
• Published: 06/06/2002
• Est. Priority Date: 12/06/2000
• Status: Abandoned Application

• Current Assignee: Gary E. Ellis
• Original Assignee: Gary E. Ellis
• Inventors: Ellis, Gary E.
• Application Number:
  US09/730,664
• Publication Number:
  US 20020068624A1
• Time in Patent Office: Days
• US Class Current: 463/25
• CPC Class Codes: G07F 17/32 for games, toys, sports, or amusements
• CPC Class Codes: G07F 17/3248 involving non-monetary media of fixed value, e.g. casino chips of fixed value
• CPC Class Codes: G07F 17/3251 involving media of variable value, e.g. programmable cards, programmable tokens

Abstract

A system and method for a casino to grant a line of credit to a person gambling without the casino risking losing any out of pocket cash prior to the gambler paying off the line of credit. The system and has the person apply for a line of credit from a casino. The casino then reviews the credit history of the person gambling. A casino smart card is then programmed with a predetermined cash value based on the person'"'"'s credit history. The casino smart card is then credited or debited based on the person'"'"'s wins and loses at the casino.

Claims

1. A method for a casino to grant a line of credit to a customer while minimizing a risk of losing any out of pocket cash prior to the customer paying off the line of credit comprising the steps of:

applying for a line of credit from a casino by the person gambling;

review of credit history by the casino of the person gambling;

programming a centralized computer monitoring system with a predetermined casino credit based on the person gambling'"'"'s credit history; and

crediting and debiting the casino credit based on the person gambling wins and loses.

2. The method of claim 1 further comprising the step of producing and delivering to the customer a periodic statement detailing gambling activity.

3. The method of claim 2 wherein the step of producing and delivering to the customer a periodic statement detailing gambling activity further comprises the step of detailing winnings and losses at each visit, total balance due, any finance charges and late fees, and payment terms.

4. The method of claim 1 wherein the casino is part of a group of casinos wherein the line of credit may be used in any of the group of casinos.

5. The method of claim 1 wherein the step of programming a centralized computer system further comprises the step of issuing a casino credit card for tracking the customer'"'"'s gambling activity.

6. The method of claim 1 further comprising the step of settling by the customer with the casino when the customer is finished gambling.

7. The method of claim 6 wherein the step of settling further comprises the step of paying off the line of credit by the person gambling before the person gambling may receive any money won during gambling.

8. The method of claim 7 wherein the step of paying off the line of credit by the person gambling before the person gambling may receive any money won during gambling further comprises the step of offsetting any money won against the casino credit to reduce an outstanding balance.

9. The method of claim 1 wherein the step of applying for a line of credit further comprises the step of filing out a credit application by the customer.

10. The method of claim 1 wherein the steps of programming the centralized computer monitoring system further comprises the step of programming the centralized computer monitoring system with a maximum lose value which will stop the customer from continuing to gamble when the maximum lose value is reached.

11. The method of claim 1 further comprising the step of using the centralized computer monitoring system with an integrated player tracking system.

13. The method of claim 12 wherein the step of producing and delivering to the customer a periodic statement detailing gambling activity further comprises the step of detailing winnings and losses at each visit, total balance due, any finance charges and late fees, and payment terms.

14. The method of claim 12 wherein the casino is part of a group of casinos wherein the line of credit may be used in any of the group of casinos.

15. The method of claim 12 wherein the step of programming a centralized computer system further comprises the step of issuing a casino credit card for tracking the customer'"'"'s gambling activity.

16. The method of claim 12 further comprising the step of settling by the customer with the casino when the customer is finished gambling.

17. The method of claim 16 wherein the step of settling further comprises the step of paying off the line of credit by the person gambling before the person gambling may receive any money won during gambling.

18. The method of claim 17 wherein the step of paying off the line of credit by the person gambling before the person gambling may receive any money won during gambling further comprises the step of offsetting any money won against the casino credit to reduce an outstanding balance.

19. The method of claim 12 wherein the step of applying for a line of credit further comprises the step of filing out a credit application by the customer.

20. The method of claim 12 wherein the steps of programming the centralized computer monitoring system further comprises the step of programming the centralized computer monitoring system with a maximum lose value which will stop the customer from continuing to gamble when the maximum lose value is reached.

12. A method for a casino to grant a line of credit to a customer while minimizing a risk of losing any out of pocket cash prior to the customer paying off the line of credit comprising the steps of:

applying for a line of credit from a casino by the person gambling;

review of credit history by the casino of the person gambling;

programming a centralized computer monitoring system with a predetermined casino credit based on the person gambling'"'"'s credit history;

crediting and debiting the casino credit based on the person gambling wins and loses;

producing and delivering to the customer a periodic statement detailing gambling activity.