Pre-authorized casino credit instrument

• US 9,875,612 B2
• Filed: 03/18/2016
• Issued: 01/23/2018
• 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 N
• Application Number:
  US15/073,806
• Publication Number:
  US 20160203676A1
• Time in Patent Office: 676 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 of a casino comprising the steps of:

accepting input from a player at a kiosk for an application for credit, said application including information identifying said player and information regarding two or more sources of financial collateral not associated with said casino;

transmitting said application to an account server, the account server processing said application and determining if at least one qualifying criteria for issuance of casino credit has been met;

when the at least one qualifying criteria is satisfied, the account server defining at least two casino credit instruments, each casino credit instrument having features including a maximum credit limit, a credit access period defining a time period during which credit may be redeemed and after which the casino credit instrument is settled, redemption provisions and settlement provisions, and wherein terms of said features of at least two of said casino credit instruments differ from one another;

receiving information of said at least two casino credit instruments at said kiosk and displaying said information of said casino credit instruments on a display of said kiosk;

associating said at least two casino credit instruments with said player including a status of each of said at least two casino credit instruments;

defining at least one linked feature for said at least two casino credit instruments associated with said player;

providing credit upon request by said player during said credit access period up to said maximum credit limit for one or more of said at least two casino credit instruments;

permitting said player to redeem all or part of any credit accessed during said credit access period based upon said redemption terms for said one or more of said at least two casino credit instruments; and

when said player does not redeem all of said accessed credit, settling said one or more of said at least two casino credit instruments based upon said settlement terms.

2. The method according to claim 1, wherein a total credit limit for said player is defined by a sum of said maximum credit limit of each casino credit instrument, and wherein said at least one linked feature comprises a linked credit limit, the linked credit limit being less than the total credit limit.

3. The method according to claim 1, wherein the at least one linked feature comprises at least one of a linked credit limit, a linked credit access period, linked redemption provisions, and linked settlement provisions that apply to collectively to said two or more casino credit instruments.

4. The method according to claim 1, further comprising the step of receiving input from said player regarding a designated order of settlement for said two or more sources of financial collateral and wherein said step of settling comprises executing upon at least one of said two or more sources of financial collateral based upon said order of settlement designated by said player.

5. The method according to claim 1, wherein said at least one element of financial collateral is selected from the group consisting of:

cash, a check, monies associated with a bank account, a credit card, a debit card, or personal property, in the possession of the player or a third party other than the casino.

6. The method according to claim 1, wherein said step of accepting an application comprises receiving electronic data from said player relative to an electronic application form.

7. The method according to claim 1, wherein terms of said redemption provisions comprise a redemption time period.

8. The method according to claim 7, wherein said redemption time period has a start time which follows an end time of said credit access period.

9. The method according to claim 1, wherein terms of said settlement provisions include an order of execution upon elements of said two or more sources of financial collateral.

10. 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;

at least one account server in communication with said at least one gaming device, the at least one account server comprising a non-transitory computer readable storage medium; and

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

(a) data regarding at least two elements 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 two elements 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; and

(e) data which defines settlement terms upon which any accessed credit which is not redeemed is settled, which settlement terms include at least terms of executing upon said at least two elements of financial collateral,

wherein when a winning outcome is awarded to said at least one identified player at said at least one gaming device when said casino credit instrument has not been redeemed applying at least a portion of an award for said winning outcome to redeem said casino credit instrument before awarding credits to said at least one identified player.

11. The gaming system of claim 10, wherein said settlement terms include an order of settlement upon said at least two elements of financial collateral.

12. The gaming system of claim 11, wherein said order of settlement is based on risks associated with said at least two elements of financial collateral.

13. The gaming system of claim 10, wherein said at least one gaming device comprises a game server which is configured to present said at least one wagering game to a player utilizing a remote electronic device.

14. The gaming system of claim 13, wherein said remote electronic device is selected from the group consisting of:

a PDA, a cellular phone, a laptop computer, a desktop computer and a tablet.

15. The gaming system of claim 10, wherein said at least one gaming device comprises a gaming machine having a housing, at least one electronically controlled device configured to display game information, at least one player input device and at least one gaming machine controller.

16. The gaming system of claim 10, wherein said at least one account server is configured to allow said at least one identified player to access funds from said casino credit instrument up to said credit limit during said credit access period.

17. The gaming system of claim 16, further comprising a kiosk in communication with said at least one account server, said kiosk configured to issue currency to said at least one identified player in an amount of said accessed funds.

18. The gaming system of claim 17, wherein said at least one gaming device is configured to indicate monetary value credits in an amount corresponding to said accessed funds, said credit for use by said at least one identified player in placing one or more wagers.

19. The gaming system of claim 10, wherein said casino credit instrument is associated with a player account corresponding to said at least one identified player.

20. The gaming system of claim 10 wherein said pre-determined maximum credit amount comprises first credit limit and a second credit limit, the first credit limit being designated for gaming purposes, and the second credit limit being designated for non-gaming purposes.