Cashless is King could become the new phrase in the gaming industry. A move toward cashless gaming, although still only taking small steps, is underway; however, it just received a big boost. The Nevada Gaming Commission (NGC) has unanimously approved a regulation amendment that allows customers to open wagering accounts for cashless gambling remotely before they arrive at a casino cage.
No Cash, No Worries
Before now, casino customers had to appear in person at a casino in order to verify their identity and set up cashless wagering accounts. Sightline co-CEO Omer Sattar stated that the process was often difficult and time-consuming. Sightline offers a cashless solution and was behind the push to bring remote registrations to Nevada.
Now, casino patrons will be able to sign up for an app and fund a cashless gaming account remotely. To complete the account setup process, the customer must show the government-issued ID document upon arrival at the casino.
Gaming commissioners voiced concern over the need to register remotely during a one-hour hearing in Las Vegas on Thursday. However, they acknowledged that they understand the difficulties of cashless payments and the increasing use of technology.
Ben Kieckhefer, an NGC commissioner, stated, “We balance the need for intense integrity in some of these processes with the ongoing need to stay modern in our technological offerings to the consumers as they come into our state and our facilities.” Steven Cohen, another NGC commissioner, wasn’t so sure. He stated during the meeting:
“I’m not ready to try. If it fails in the marketplace, you will have a whole lot of people who are, you know, filing complaints and coming here during the public forum.”
NGC commisioner Ben Kieckhefer
However, after much discussion, Cohen made the final motion to approve the regulation changes.
NGC Approval Follows NGCB Recommendation
After the Nevada attorney general ruled that the change would not violate federal anti-money laundering laws, the Nevada Gaming Control Board approved the amendment in December.
Sattar added during the hearing that the two-step process for remote verification that he proposed today provides greater safety for account registration. He stated that remote registration follows federal anti-money laundering regulations.
He added, “We actually think the system is safer, more secure, but it makes it easier for the vast majority of consumers to actually try real cashless chains in the state of Nevada.”
Sightline believes it can have a remote registration system in place by March.
This regulation change applies only to cashless gambling in casinos. It does not alter Nevada’s requirement that customers must visit a casino’s sportsbook in order to open a mobile sports betting account.