What is the future of casino payments looking like? Well, as we know, technology can affect and impact the way we game and the sway we spend. Consider how slot machine coins were replaced with notes over time. Well, there could well be a new development where money is removed altogether and replaced with coupons or gaming tickets.
This is something a lot of casinos have been considering over the past few years. And we could well be moving toward a point where this becomes more of a reality. Cashless payments represent a popular and attractive new direction in the online gambling world.
It is a very attractive prospect for casinos because the handling and storing of cash costs casinos money. Not to mention the security issues that are often presented as a result of large volumes of money. Consider how many transactions involve cash for casinos on a daily basis.
It seems odd that casinos have not yet taken up the mantle that retail outlets have with the use of card transactions. There are regulations in place that can often prevent this from happening, and many feel that casinos should remain institutions that deal in cash. Sightline, a company developing cashless solutions for casinos, have other ideas.
They have already championed some cashless payment methods in Nevada casinos. Things like IGT EZ Pay ticket voucher system, and membership cards, have been developed by the company. Let’s have a closer look at these options which could become more widespread in the next couple of years.
Ticket Voucher Method
This looks set to eclipse any other forms of payment method for casinos moving forward. The ticket voucher system basically allows people to play using tickets instead of cash. So, what happens is that customers will be paid out with vouchers instead of cash, which they can use in compatibility with slots and video poker.
People can convert the tickets into cash at any time by visiting the desk, but it takes a big burden off the casinos. This payment method is still in the early stages and is being used purely for slots and video poker right now. But, we could well see a change where it becomes available across the board in a lot of casinos over the next few years.
These may take on several different permutations over the years, but the one offered by Sightline works a little like a cash card. Customers order it online and then can transfer money to it using their credit or debit cards. This allows players to insert the card in slot machines and play that way. They are also able to check their balances using a pin.
These cards may well be the favored payment options for customers over time. That’s because they are simple and secure, everything is done online, and the cards have a limit as well. This makes them an attractive alternative for people who gamble on a regular basis. They also improve things for casinos and helps make winnings more manageable.
As you can imagine, cashless payments play a big role in the future of casinos. There will come a time when these will be much more commonplace, and there may even be other cashless methods too. For casinos there are bright sides too; one of the obvious advantages being that gamers are likely to spend more with a card or voucher.