More Cashless Gaming Options Considered by Nevada’s Gaming Commission
Casinos in Nevada may see more cashless options which the Gaming Commission is currently considering. Some Silver State operators have already prepared cashless software solutions.
More Cashless Options May Be Implemented for Nevada’s Casinos in the near Future
Nevada casinos may see more cashless payment options in the near future. The Nevada Gaming Commission is considering changes in terms of existing regulation. Those changes may result in more cashless transactions for the operators. During a regulatory discussion on Thursday, steps towards cashless transactions were discussed. The Gaming Commission in the state is examining two regulations that may potentially be changed. The Silver State gaming industry remains hopeful of the changes. More cashless casino transactions will influence the market positively just like the ticket-in, ticket-out (TITO) technology did, the industry says. The TITO technology was implemented in the 1990s. It featured printing of a slip or barcode with the winning amount by gaming machines. Punters then could redeem the amount for cash at automated kiosks.
Sandra Morgan, Gaming Control Board chairwoman has long urged for cashless options in casinos. Commenting back in May, Morgan said: “I’ve been pretty public saying that I’m open to looking at new ways that technology can help attract new customers and be beneficial for not only the industry, but even for responsible gaming measures as well.” With that being said, she also pointed out that in recent months, the cashless technology progress was slowed.
The Silver State Gaming Control Board Considers Changes in Regulation
In order to implement more cashless casino transactions, the Control Board will need to change parts of the existing regulations. Discussed back in June, the Control Board was looking to make six amendments to Regulation 1 which features financial definitions. The proposed changes in this section will better define “debit instrument” and also “electronic transfers“. By doing so, the Control Board will ease the debit card, credit card and smartphone app money transfers.
On the other hand, there are proposed changes to Regulation 14. A new section will be implemented in Regulation 14 as well as two proposed amendments. These changes are precisely about cashless betting. The proposed changes in that section would not allow transfers of money from bank accounts to a gaming machine. Instead, the transfer will be allowed when the receiver is a digital wallet or other similar payment technology. With that being said, the Control Board will be on the lookout to continue controlling transactions, regardless that they are cashless. In addition, license holders will have to reach out to the Control Board in order to implement their cashless system.
Gaming Industry and AGEM Say Yes to the Cashless Transactions
Focusing on the gaming industry in Nevada, some operators have already prepared cashless transaction options. Everi Holdings Inc which is based in Las Vegas, has created its CashClub Wallet back in 2013. The CashClub Wallet is a digital wallet which provides payment options to players. Players can move funds in or out of the casino but the wallet also features multiple payment methods. The digital wallet by Everi Holdings Inc also supports responsible gaming by offering spending limits. With casinos shut down back in March, the company started testing the CashClub Wallet.
A similar contactless gaming solution was presented by Scientific Games back in May. SG’s new set of contactless solutions includes: Unified Wallet, Social Distancing Module and Automated Game Sanitization. Upon the release of solutions, SG called this a “new standard for the industry.”
The Association of Gaming Equipment Manufacturers also showed a positive attitude towards cashless transactions. Dan Reaser, attorney for AGEM, commented on the subject by saying: “These outcomes range from enhanced legal compliance, improved public health and safety, especially given the COVID-19 pandemic, as well as more robust responsible gaming alternatives and advanced operating efficiencies.” He continued by pointing out that cashless transactions will undoubtedly have positive results similar to the TITO technology introduced back in the 90’s.
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