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AUTUMN ROUND-UP nattakorn/Adobe Stock


cashless adopters will also want economical solutions that can be implemented across the entire floor—without system upgrades. The good news? Payment providers are already beginning to deliver modular technologies that provide this capability. Let’s explore the key considerations – and benefits – that operators and patrons should be aware of.


Crane Payment 2


020 has been a year of massive change for industries across the globe—and casinos are no exception. This year marks a new era in the gaming industry: after decades


of cash-only operations, the door is finally opening to allow cashless wagering systems. For years, cash has ruled casinos, with


regulations prohibiting the use of cashless wagering solutions. In fact, no state in the country has allowed patrons to wager using credit or debit cards. The closest casinos have come is using ticket-in, ticket-out (TITO) technology, which allows players to add funds electronically to a slip at a kiosk. And even outside of the wagering floor, only a small number of casinos accept electronic payments like Apple Pay, Google Pay or PayPal. Why? The primary concern has always been that accepting credit and debit cards would enable patrons to gamble using money they do not actually have. In addition, responsible gaming groups like the National Council on Problem Gambling worry that going cashless could further enable problem gamers and those with gambling addictions. But on June 25, the Nevada Gaming Commission (NGC) decided to


66 SEPTEMBER 2020


Innovations Rolling the Dice: Why Cashless is the Right Move for Casinos


flip the coin with its decision to modify casino regulations to permit cashless wagering—a turning point in bringing casinos into the 21st century. More specifically, the NGC removed a section


from its regulations prohibiting the NGC’s Chair from approving systems for electronic funds transfers “until such time as the appropriate regulations for such transfers are adopted.” This change will open the way for new regulations, and ultimately, a better gaming experience.


Modern Payments, More Opportunities While the vote happened in the era of COVID-19, it wasn’t made purely in reaction to the pandemic and its associated health and hygiene concerns—the American Gaming Association has been pushing to modernize payments in casinos for the past year and a half. So as regulators and payment providers work


to establish a viable solution, operators might be wondering what to expect. What could these changes mean for casinos and patrons, how did we get here, and could integrating cashless actually promote more responsible gaming? As the payment landscape continues to evolve,


The Perceived Problem: COVID and Cash Cash has always been ubiquitous in casinos. But the COVID-19 pandemic—and the resulting increase in the scrutiny of shared objects and surfaces—has put physical currency to the test. As the CDC recommended the use of touchless payments when possible, Americans began to shift their payment preferences away from cash. Among people who had visited a casino in the past year, nearly six in ten said they were now less likely to use cash in their everyday lives because of the COVID-19 pandemic, according to an American Gaming Association report quoted in CNBC. As consumers have become more wary of


physical currency, the gaming industry accelerated its push to offer patrons more casino payment options. With the NGC’s vote, cashless wagering—and all the benefits that come with it—has become a real possibility for the first time.


What is Cashless Wagering? Cashless wagering includes a wide variety of solutions for patrons to electronically transfer money to a game or gaming device and transfer winnings directly back to their accounts. These options range from tap-and-go mobile wallets housed within a smartphone app to debit cards that can be swiped or inserted into readers at cashless slot machines, gaming tables and other locations throughout a casino. Nevada’s new regulations remove prohibitions


on these types of systems, but put some additional guardrails in place. These requirements, which are meant to help alleviate concerns about problem gambling, include “a daily monetary transfer limit and messages regarding responsible gambling ‘conspicuously displayed’ on devices that include the website of the Nevada Council on Problem Gambling,” according to CDC Gaming Reports.


The Benefit for Operators: Better Customer Oversight Cashless wagering solutions have the potential to benefit both operators and players. For operators, the systems offer better customer oversight, allowing operators to gain more insights about


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