Casino ATM's, what a ripoff!
  • Casino ATM's are the biggest rip of in any casino. A normal atm that your bank is not affilated with would charge you a nominal $2.00 fee your banks atm is free. But casino ATM's have a fee of $8.00 just to get started and that is to withdraw a small amount under $50 if you withdraw more you pay more in fees. You could pay as much as $125 to get a few a thousand dollars and that fee is on top of the $2.00 your bank charges you. My advice if you are going to gamble at a casino stop by the bank first and bring your own cash with you. There are usually banks within a couple miles of the casinos.
  • learningtocount said:
    Casino ATM's are the biggest rip of in any casino. A normal atm that your bank is not affilated with would charge you a nominal $2.00 fee your banks atm is free. But casino ATM's have a fee of $8.00 just to get started and that is to withdraw a small amount under $50 if you withdraw more you pay more in fees. You could pay as much as $125 to get a few a thousand dollars and that fee is on top of the $2.00 your bank charges you. My advice if you are going to gamble at a casino stop by the bank first and bring your own cash with you. There are usually banks within a couple miles of the casinos.


    LTC
    I certainly agree the ATM's are a horrible waist of money and just another method of soaking the addicted. Even worse than withdrawing when using these machines, you should see what the cost is when you go for a cash advance against your credit card. Not sure, but I think the casino fee is pretty much the same but your credit card company might charge you something like 3% cash advance fee right up front and then you have interest charged from day one. It works out to a very high interest rate.
    For those who might gamble big but do not want to be walking around with a ton of cash, just a little preparation can save you here.

    1. A line of credit with the casino.
    You have to give the casino a limited amount of your banking information and there are plenty of good reasons that many of us will not, but for a non counter (and even counters in select situations) a 30 day interest free loan might make it worth it.

    2. Deposit at the Cage. You can send money in advance to the casino and draw on it.

    3. Use a bank that has branches in the casino town you are visiting. The bank my checking account is in has branches in Vegas.

    4. If you are staying at the hotel they generally will cash checks up to a certain amount.

    5. Free check cashing. Not the same as a line of credit but in many casinos the giving to them of certain personal banking information will enable you to set up a predetermined check cashing amount.

    6.SELF CONTROL. Ran out of cash, quite playing. (unless it is a very positive stack and you can get them to wait till you return with the cash without using the ATM.

    I am sure there are others, but simply once you are giving away several percent to the casino, ATM owner and your bank or credit card company, the EV you are left would might very well be highly negative.

    ihate17
  • Recently playing with a friend in Vegas and he went to the cage and withdrew $1,000 from his Discover. Cost $68
  • learningtocount said:
    Casino ATM's are the biggest rip of in any casino. A normal atm that your bank is not affilated with would charge you a nominal $2.00 fee your banks atm is free. But casino ATM's have a fee of $8.00 just to get started and that is to withdraw a small amount under $50 if you withdraw more you pay more in fees. You could pay as much as $125 to get a few a thousand dollars and that fee is on top of the $2.00 your bank charges you. My advice if you are going to gamble at a casino stop by the bank first and bring your own cash with you. There are usually banks within a couple miles of the casinos.



    i'm pretty sure you are talking about cash advance machines,not atms. I've never seen a casino ATM that was more than $5,and it is illegal for an ATM to have sliding scales. Cash advance machines have sliding scales,ATMs have set fees,no matter what amount you withdraw.

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