Pre-authorized casino credit instrument
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.
1. A method of providing credit to a casino patron comprising the steps of:
accepting input from said patron at a kiosk for an application for credit, said application including information identifying said patron and information regarding at least one source 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 one casino credit instrument, said casino credit instrument defining a first credit limit for gaming activities, a second credit limit for non-gaming activities, and a credit access period;
receiving information regarding said casino credit instrument at said kiosk and displaying information regarding said casino credit instrument on a display of said kiosk;
accepting input at the kiosk from said patron to accept said casino credit instrument;
providing credit for gaming activities upon request by said patron during said credit access period up to said first credit limit;
providing credit for non-gaming activities upon request by said patron during said credit access period up to said second credit limit;
permitting said patron to redeem all or part of any credit accessed during said credit access period; and
when said patron does not redeem all of said accessed credit, settling said casino credit instrument.
2. The method in accordance with claim 1 , wherein said casino credit instrument further comprises redemption provisions and settlement provisions.
3. The method in accordance with claim 1 , wherein said casino credit instrument has a maximum credit limit and said first credit limit and said second credit limits total said maximum credit limit.
4. The method in accordance with claim 3 wherein said first credit limit and said second credit limit are selected by said patron.
5. The method in accordance with claim 1 further comprising associating said first credit limit with a first card and reading information associated with said first card as part of said request for credit for gaming activities.
6. The method in accordance with claim 5 further comprising associating said second credit limit with a second card and reading information associated with said second card as part of said request for credit for non-gaming activities.
7. The method in accordance with 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 patron or a third party other than the casino.
8. The method in accordance with claim 1 wherein said step of accepting an application comprises receiving electronic data from said player relative to an electronic application form.
9. The method in accordance with claim 1 wherein said casino credit instrument defines different terms for credit advanced under said first and second credit lines.
10. The method in accordance with claim 9 wherein said different terms comprise at least one of different redemption terms and different settlement terms.
11. 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 patron;
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 one element of financial collateral associated with a party other than said casino;
(b) data which defines a first credit limit for gaming activities and a second credit limit for non-gaming activities, the first and second credit limits based, at least in part, upon said at least at least one element of financial collateral;
(c) data which defines a credit access period comprising a period of time during which said patron may access credit from said casino credit instrument;
(d) data which defines redemption terms, said redemption terms comprising 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.
12. The gaming system in accordance with claim 11 further comprising a kiosk in communication with said at least one account server, said kiosk configured to issue currency to said patron based upon credit accessed from said first or second credit limits.
13. The gaming system in accordance with claim 11 wherein said at least one gaming device is configured to indicate monetary value credits in an amount corresponding to funds accessed from said first credit limit, said credit for use by said patron in placing one or more wagers.
14. The gaming system in accordance with claim 11 , wherein said data defines a maximum credit limit for said casino credit instrument and the sum of said first credit limit and said second credit limits are less than or equal to said maximum credit limit.
15. The gaming system in accordance with claim 14 wherein said first credit limit and said second credit limit are based upon information provided by said patron.
16. The gaming system in accordance with claim 11 further comprising data which associates said first credit limit with a first card which can be used to access credit from said first credit limit for gaming activities.
17. The gaming system in accordance with claim 16 further comprising data which associates said second credit limit with a second card which can be used to access credit from said second credit limit for non-gaming activities.
18. The gaming system in accordance with claim 11 wherein said data defines different redemption and/or settlement terms for credit accessed from said first and second credit limits.
19. The gaming system in accordance with claim 11 wherein said at least one account server receives a request to access funds for the purchase of non-gaming goods or services and authorizes funds for said purchase from said second credit limit.