20240046756. PRE-AUTHORIZED CASINO CREDIT INSTRUMENT simplified abstract (Everi Payments Inc.)

From WikiPatents
Jump to navigation Jump to search

PRE-AUTHORIZED CASINO CREDIT INSTRUMENT

Organization Name

Everi Payments Inc.

Inventor(s)

Timothy Brian Richards of Las Vegas NV (US)

Kurt Douglas Sullivan of Henderson NV (US)

PRE-AUTHORIZED CASINO CREDIT INSTRUMENT - A simplified explanation of the abstract

This abstract first appeared for US patent application 20240046756 titled 'PRE-AUTHORIZED CASINO CREDIT INSTRUMENT

Simplified Explanation

The abstract of this patent application describes a casino credit access instrument that provides players with a source of funds for playing games or purchasing goods/services at a casino. The instrument has a defined period of time for accessing credit up to a predetermined amount, a redemption period for repaying accessed credit, and settlement terms if the instrument is not redeemed. Controls can be used to control access to the credit, and credit may be granted based on financial collateral that can be used to settle the instrument.

  • The patent application describes a credit instrument for players at a casino.
  • The instrument allows players to access credit for placing wagers or purchasing goods/services.
  • It has a defined period of time for accessing credit and a redemption period for repaying accessed credit.
  • Controls can be used to control access to the credit.
  • Credit can be granted based on financial collateral that can be used to settle the instrument.

Potential applications of this technology:

  • This technology can be used in casinos to provide players with a convenient source of funding for playing games or purchasing goods/services.
  • It can be used to attract and retain players by offering them a convenient way to access credit.

Problems solved by this technology:

  • This technology solves the problem of players needing a source of funds for playing games or purchasing goods/services at a casino.
  • It provides a solution for players who may not have immediate access to funds but still want to participate in casino activities.

Benefits of this technology:

  • This technology provides a low-risk source of funding for players, reducing the risk for the casino or other lender.
  • It offers convenience to players by allowing them to access credit without the need for immediate payment.
  • The defined periods for accessing credit and repaying accessed credit help to manage and control player debt.


Original Abstract Submitted

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. controls may be utilized which control access to the credit. 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 players at low risk to the casino or other lender.

Retrieved from "http://wikipatents.org/index.php?title=20240046756._PRE-AUTHORIZED_CASINO_CREDIT_INSTRUMENT_simplified_abstract_(Everi_Payments_Inc.)&oldid=32782"