KEY POINTS:
A $10,000 loan happens as quick as a handshake in the VIP room at SkyCity casino, says a high-stakes gambler.
The gambler who claims to have borrowed hundreds of thousands of dollars off loan sharks in the past decade, said a $10,000 chip would be slipped into a person's hand as soon as it was wanted.
Up to 30 agents were operating in the casino at any one time.
"You have their cellphone number, you ring them, they meet you wherever. Cash, chips - they feed you.
"You get introduced by another gambler. They take your phone number, address and, if you are a businessman, they will give you $10,000 straight up. You pay it back quickly, say if you win back that night, and you are seen as creditworthy and you will get more."
The gambler said interest of 7 per cent a week was charged on the loans. It was incurred even if the person won the money back on the same night, which often happened.
Asian students could also get loans easily because it was known they got payments from their parents.
Loan sharks were important because they enabled a big monetary turnover on the tables. A $10,000 loan could easily be gambled up to $200,000 and back down again with a few bets.
The various syndicates got so many customers they did not have to compete.
