Digital and cashless gaming technology viewed as bringing casinos into the 21st century
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The Nevada Gaming Commission will consider changes to regulations on electronic transfers of money to games or gaming devices. The changes will clarify the rules regarding cashless gaming. The system must be licensed and approved by the board. It will also have a daily monetary transfer limit and responsible gambling messages. There will be a warning message on devices that includes the website of the Nevada Council on Problem Gambling. Only a few properties have the licensed systems in place. They are subject to additional requirements in the technical standards.
The American Gaming Association has released a framework for allowing digital payments on casino floors. The organization has been working on the issue for 18 months. It is based on eight principles for modernizing casino payments nationwide. The pandemic caused a nationwide shutdown of casinos in mid-March. A consultant says the pandemics should be the reason for pushing forward technology. Omer Sattar, executive vice president of Sightline Payments, says expansion of cashless gaming will create opportunities for numerous businesses. He cites Starbucks customers paying for coffee simply by waiving the barcode from a digital wallet on their mobile phone across a QR reader at the checkout counter.
Nevada outlawed credit cards from being used directly on a slot machine years ago. Gaming equipment providers support the proposed regulatory changes. AGEM Executive Director Marcus Prater says Nevada needs to take the lead. Digital and cashless gaming technology is viewed as bringing casinos into the 21st century.
Everi is testing a virtual wallet app for casino customers. Everi already provides kiosks to casinos where customers can withdraw money from their debit cards directly onto a ticket voucher. Scientific Games and other slot machine developers are also creating mobile wallets. The four slot machines manufacturers provide 95 percent of all the slot Machines. Casino operators are cash-strapped after the COVID-19 shutdowns.
AGA's research shows that customers want to use digital or contactless payments on the casino floor. AGA started its effort long before COVID-19 existed. The association's principles came from consumer research and industry input. After sports betting, AGA saw more acceptance of its recommendations. Rumbolz believes cash won't disappear until we are a completely cashless society.
AGA wants to equip customers with more tools to wager responsibly. Digital payment platforms can provide tools for customers to monitor their gaming activity and set spending limits. Technology provides casino operators, regulators and law enforcement increased transparency into matters of anti-money laundering and monitoring of financial transactions. Regulators should require casino operator to turn on the tools. Data from the technology should be provided to an accredited research academic institution for study. Bussmann: Legislating and regulating the industry across all states and jurisdictions will be key to making the payment ecosystem seamless.
