I am going to Vegas in a couple of weeks and my bankroll is more than I want to carry in cash. What is the best cash alternative. Will casinos take checks? What about cashier's checks from my local bank made out to the casino? Traveler's Cheques?
Thanks,
The Dewd
Or you can get a marker and carry some cash.
I have never had a problem cashing traveler�s cheques at a casino. It will take a few minutes for them to check the status of your TCs etc. but you should get your cash.
A possible downside of TCs is the fee. At 1% of face value it is rather expensive. You may be able to get free TCs one way or another. I get them free from the AAA, and I may be able to now get them free from my bank, based upon my account status.
In my area, the AAA only takes personal checks for 2000, so if you want a larger amount, you have to buy them in cash. You may find this undesirable if you have an aversion toward cash.
I think that most casinos will accept cashier�s checks, but there are some catches. If you plan to go this route, I would suggest that you contact the casino ahead of time. I think they will want you to fax a copy of the check out ahead of time, so that they contact your bank and verify it.
I have no experience in this myself, and I am just recounting what others have said or written. On the plus side, if you send in �front money�, you may be able to negotiate some comps up front. On the downside, you do have to give up some personal information to the casino.
I have not had much success in cashing checks at casinos. The ones that do it have such low limits (maybe $500) that it isn�t worth it to me.
Finally, let me point out that you can�t avoid cash altogether. You may come with 10K in travelers checks, lose most of that, cash all your checks, and then have a turnaround and go home with 12K. This is a fairly typical situation.
What is your aversion to cash? How much are we talking about ? If you are a red-chipper and bringing 5K or less, then I don�t think you would have any hassles with the TSA.
If your a green chip player and your are bringing 20K or so, then I would suggest that you join Green Chip and ask your questions there. Most of the people who post on the Free Pages here are red chippers, and you won�t get much information on these kinds of questions here.
My answer, my friend, is American Express Travelers checks in $1,000 denomination.
Carrying big bundles of cash is dirty & risky zhit after 911. Instead of cold cash, I've carried a fistful of American Express Travelers checks in $1,000 denomination. There's no 2% fee if you use an AAA credit card to buy them. Say if you buy 100 of them, you'll save $2,000 in surcharge. Also, it's interest free for at least 45 days. It's almost like the Ponzi Scheme. You take out $100,000, then you repay the interest free loan with "somebody else's" money later, assuming you will win money from ploppies/highrollers at casinos. If you lose all your capitals, it's no big deal. That's what chapter 11 or 13 is for. Donald Trump casinos have used it proudly. Why shouldn't you?
