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Cashless Gaming and Mobile Technology in the Casino World
Public Group active 2 years agoFor decades, land-based casino establishments have depended on cash. However, within the past five years, more and more consumers have preferred cashless payment methods and have increasingly relied on the conveniences offered by their mobile devices.
Today, there is a growing need for cashless gaming and mobile technology in the land-based gambling industry, and the COVID-19 pandemic has pushed this need into high gear. As such, a growing number of brick-and-mortar casino operators are transitioning from their antiquated cash-dependent ways, to adapt to these important technological trends.
Nevada Approves Cashless Gaming Accounts
Remote authentication for cashless wagering accounts was approved in Nevada recently. Home to Las Vegas, one of the largest gambling cities in the world, the state of Nevada’s Gaming Commission approved an amendment that allows casino patrons to crate, verify, and maintain cashless casino betting accounts remotely.
The approved amendment was presented by Sightline Payments. The Las Vegas-based company serves as the financial conduit at Resorts World. It is the only payments technology provider that enables two-way cashless transactions for all casino gaming offerings as well as all non-gaming spend via its Play+ platform. This omni-channel platform makes it possible for casino patrons to fund their Play+ account without cash by using their credit/debit cards, PayPal, or ACH as a funding source. This allows players to move cashless funds to their resort mobile wallet using only their smartphone.
Although cashless gaming has been present in Nevada since 2010 when the state launched mobile sports betting, this new amendment gives casino customers the freedom to use an app to register their details, open a cashless gaming account and complete the login process online, including ID verification. Prior to this change in regulation, customers who used cashless gaming in Nevada casinos were required to verify their identity with a staff member in person, which, according to Sightline Payments, resulted in a poor user experience.
The Pandemic Accelerated the Cashless Change
Two of the reasons that online casinos and mobile casino apps are so popular is convenience and zero physical interaction with other people. The latter of the two is what helped many gambling operators with online platforms survive the lockdowns in 2020, due to the COVID-19 pandemic.
That being said, as land-based casinos began to close across the US and other parts of the world, it suddenly became an industry-wide endeavour to transition away from cash. Consumers increasingly felt unsafe using cash in physical establishments where social distancing and contactless interactions became exceedingly important.
According to research released by the American Gaming Association in June 2020, 57% of casino visitors said that because of the COVID-19 pandemic, using digital or contactless payments on the casino floors was important to them. Another 59% of casino patrons expressed that they were not as likely to use cash in their day to day lives because of COVID-19 concerns.
Mobile Integration Will Change the Industry
The integration of mobile technology and mobile wallets will revolutionize the industry. Not only will cashless gaming be implemented across entire operations, but instant marketing offers will also provide casinos with an immediate and direct connection with their customers.
Moreover, the technology has the potential to allow casinos to direct prizes or jackpot wins to be paid to the slot machine or the player’s mobile wallet. Players’ smartphones will become the interface for the entire brand, everything from casino games and shopping to dining, entertainment and more.
The previously mentioned Resorts World Las Vegas is a prime example of a current cashless gaming casino experience in Nevada. Its multi-tiered digital technology system provides a cashless payment program for gaming and non-gaming activities throughout the Resorts World property. The innovative system was created by five gaming technology providers. This is the first casino in the state that made it possible for players to digitally purchase chips from a table game dealer.
It is likely that more casinos in the state of Nevada, across the US and around the world will begin to adopt similar cashless gaming and mobile technologies like those seen in Resorts World. To remain competitive, casinos must meet the demands of today’s gamblers who desire digital convenience and a faster experience.
