Pre-authorized casino credit instrument
View Patent ↗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 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;
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 available credit up to a maximum credit limit;
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;
transferring funds from a system server to said gaming machine in the form of one or more monetary value credits which are associated with a credit balance at said gaming machine, said funds derived from said available 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 credit balance at said gaming machine;
receiving a cash-out request from said player of said gaming machine; and
preventing cash-out of at least a portion of said credit balance at said gaming machine when said casino credit access instrument has an outstanding balance of credit.
2. The method in accordance with claim 1 , wherein said application further includes information regarding at least one element of financial collateral.
3. The method in accordance with claim 1 , wherein said casino credit access instrument further defines a credit access period, redemption terms and settlement terms.
4. The method in accordance with claim 1 , comprising preventing cash-out of an amount of said credit balance at said gaming machine below said outstanding balance of credit.
5. The method in accordance with claim 4 , further comprising the step of cashing out an amount of said credit balance at said gaming machine above said outstanding balance of credit.
6. The method in accordance with claim 5 , wherein said step of cashing out comprises at least one of dispensing funds or a ticket.
7. The method in accordance with claim 1 , further comprising said system server transmitting information to said gaming machine to prevent said cash-out.
8. The method in accordance with claim 1 , further comprising presenting at least one wagering game to said player in response to said wager of said monetary value credits, awarding winnings for a winning wagering game outcome in the form of won credits, and associating said won credits with said credit balance at said gaming machine.
9. The method in accordance with claim 1 , further comprising transferring credits from said credit balance at said gaming machine to said outstanding balance of credit in order to reduce said outstanding balance of credit associated with said casino credit access instrument.
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 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 data which defines credit up to a pre-determined maximum credit amount which is accessible by at least one player;
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 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 of said casino credit access instrument, up to said maximum credit limit;
said gaming machine configured to receive a cash-out request from said player of said gaming machine; and
said gaming system preventing cash-out of at least a portion of said monetary value credit balance at said gaming machine when an outstanding amount of credit associated with said casino credit access instrument exists.
11. The system in accordance with claim 10 , wherein said data further comprises information regarding at least one element of financial collateral.
12. The system in accordance with claim 10 , wherein data further defines a credit access period, redemption terms and settlement terms of said casino credit access instrument.
13. The system in accordance with claim 10 , wherein said system is configured to prevent cash-out of an amount of said monetary value credit balance below said outstanding amount of credit.
14. The system in accordance with claim 13 , wherein said gaming machine is configured to cash out an amount of said credit balance at said gaming machine above said outstanding amount of credit.
15. The system in accordance with claim 14 , wherein said gaming machine is configured to dispensing funds or a ticket to cash out said amount.
16. The system in accordance with claim 10 , wherein said system server transmits information to said gaming machine to prevent said cash-out.
17. The system in accordance with claim 10 , wherein said gaming machine is configured to award winnings for a winning wagering game outcome in the form of won credits and associate said won credits with said monetary value credit balance.
18. The system in accordance with claim 10 , wherein said gaming system is configured to transfer credits from said monetary value credit balance at said gaming machine to said casino credit access instrument.