Gaming Credit Issuance Using Authorized Financial Data
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Solution Overview
Problem
Existing gaming establishment credit systems face challenges in mitigating fraud risks and ensuring secure issuance of unsecured lines of credit, particularly due to prohibitive credit checks and potential damage to players' credit scores, while also addressing the cash-poor patrons' need for funds without increasing risk exposure.
Innovation Solution
A system that utilizes user-authorized third-party financial data to make informed decisions on line of credit approvals, secures the credit with scheduled fund transfers, and integrates cashless wagering and retail accounts to manage funds efficiently, reducing fraud and risk.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If traditional credit checks are performed to assess player creditworthiness, then the reliability of line of credit issuance is improved, but the player's credit score is damaged and access to credit is restricted
Solution Approach 1:
The patent introduces a gaming establishment credit system as an intermediary that performs internal credit assessments using player data from the establishment's own systems (wagering history, account balances, transaction patterns) rather than relying on external credit bureaus. This intermediary mechanism allows the system to evaluate creditworthiness independently, avoiding the harmful effect of damaging external credit scores while maintaining reliable credit issuance decisions.
2Ease of operation
If unsecured lines of credit are offered to players, then the ease of operation and accessibility are improved, but the risk of fraud and default increases
Solution Approach 1:
The patent implements continuous feedback mechanisms where the credit system monitors player account balances, wagering activity, and transaction history in real-time. The system adjusts credit limits and availability based on this ongoing feedback, allowing players to access credit easily when their financial position permits while automatically reducing or blocking credit when risk indicators appear, thus preventing fraud without restricting legitimate access.
Solution Approach 2:
The system enables players to self-manage their credit through automated processes where the credit system independently monitors their financial status and makes appropriate adjustments without requiring manual intervention. Players can view their credit limits and usage through the gaming establishment's existing account interfaces, and the system automatically enforces credit terms, reducing the need for external oversight while maintaining security.
3Reliability
If financial information from third-party accounts is obtained to assess creditworthiness, then the reliability of credit decisions is improved, but the loss of information and data exposure increases
Solution Approach 1:
The patent extracts and utilizes only the specific financial information necessary for credit assessment that is already present in the gaming establishment's existing player accounts and transaction systems. Rather than obtaining comprehensive financial data from external third-party accounts, the system extracts relevant indicators (account balances, transaction patterns, wagering history) from its own databases, thereby achieving reliable credit decisions while minimizing data exposure to external sources.
4Reliability
If scheduled fund transfers are required to secure the line of credit, then the reliability and security are improved, but the loss of time and complexity increase
Solution Approach 1:
The patent requires players to establish and fund their gaming establishment accounts in advance before needing to access credit. The account setup and initial funding occur during the player's first visit or account creation, rather than at the time of credit issuance. This preliminary action ensures that when credit is needed, the account is already in place and ready for immediate transactions, reducing the time required for fund transfer processing while maintaining security through the pre-established account structure.
Data Source
AI summary
A system that coordinates the issuance of a line of credit or marker for a user based on financial information associated with that user. Following a user, such as a player, applying for a line of credit with a gaming establishment credit system and following the user authorizing access to a financial institution account maintained for the user by a financial institution, the system operates with the financial institution to obtain financial information associated with the financial account. The system utilizes the obtained financial information to determine one or more attributes of the applied for line of credit.