AUTUMN ROUND-UP
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their players, serve them better, and prevent irresponsible gaming. The tracking capabilities of cards and digital wallets allows the ability to place and enforce wagering limitations, as well as providing opportunities for more targeted marketing and loyalty programs. Additionally, cashless wagering could help eliminate some concerns for operators. According to a report by the American Gaming Commission, “the widespread adoption of digital payments in gaming will enable better regulatory oversight and improved Know Your Customer and anti-money laundering capabilities.” And, of course, cashless wagering means less cash for operators and staff to worry about handling, tracking and securing. Finally, cashless wagering could help expand
casino wagering to a whole new clientele: younger players. “Cashless payments not only allow for a modern experience … but also will likely help attract more millennials back to the (casino) floor that have been cash adverse,” said gaming industry consultant Brendan Bussmann in an article in the Nevada Independent. As casinos look for ways to recover from the pandemic-related downturn, attracting new audiences is a key consideration. Some players simply prefer to use digital wallets or debit cards, especially millennials—the generation least likely to carry cash, according to TD Bank’s consumer spending index. A cashless, digital option opens the door to more players—and a stronger future for the gaming industry.
The Benefit for Players: A New Generation of Gaming Many of the benefits for operators also apply to players and patrons. The ability to track spending and set self-imposed limits gives patrons “more tools to help them play responsibly,” according to the AGA. Cashless wagering also means less cash for players to handle and keep track of, reducing the security concerns that come with carrying large amounts of physical currency. And for players looking to
reduce their use of cash due to hygiene concerns, cashless wagering offers them an option with less shared contact. But cashless wagering doesn’t just help
alleviate concerns—it also offers players more convenience and a better gaming experience. With digital wagering, players no longer need to leave tables or machines to visit an ATM if they want to continue playing. Cashless wagering also means better benefits for players: through these systems, casinos can offer even more personalized rewards to patrons, customized for the way they prefer to play. And increased digital wagering services can lead to even more fun options, from analyzing and choosing a favorite slot machine to being able to reserve their preferred seats, games and tables. With digital technology, the sky’s the limit, and the opportunities are endless.
More Options for More Players Of course, the gaming industry can’t eliminate cash completely—and it shouldn’t have to. Cash continues to be king on the casino floor and throughout the industry, and many longtime players still prefer it. That’s why cashless wagering shouldn’t be
seen as the end of cash in casinos. Instead, cashless wagering systems can be brought in alongside existing cash-driven operations, giving players and operators more options, more flexibility, and a more modern gaming experience for all. For example, technology already exists that enables bill validators to be connected with Bluetooth (BLE) technology, allowing players to make mobile or cash payments. For those looking to decrease their
interactions with physical currency—for a variety of reasons, from health and hygiene to personal preference—cashless wagering, digital wallets and debit cards give them the opportunity to play the way they prefer. And for players who will always choose cash, it’s not going away anytime soon. Nevada’s new cashless wagering
regulations give casinos and other gaming establishments a unique opportunity: the chance to create a more diverse, flexible payment ecosystem that meets the needs of our rapidly changing world—all while providing a safer, more responsible gaming experience.
Maria Sbytova/Adobe Stock SEPTEMBER 2020 67
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