The American Gaming Association released a report earlier this week, calling on regulators in gambling states to update their regulations or laws to allow for cashless options for players. The idea stems from a study conducted by the group over an 18-month time frame where both commercial casinos and tribal venues were considered. The study included information on equipment suppliers who are trying to offer more cashless options in the industry.
Current Status of Cashless Payments:
Right now, only a few casinos in the United States use cashless payment options. Such payment methods include debit and credit cards along with apps like PayPal, Google, and Apple Pay. According to CEO and President of the AGA, Bill Miller, advancing the opportunity for digital payments has been a top priority of the group since he began at the AGA.
According to Miller, the option aligns with the role of gaming in the 21st century and will bolster the rigorous regulatory and responsible gaming measures. Miller pointed out that the coronavirus pandemic made it more important to advance these efforts to provide customers with a more comfortable payment choice.
The coronavirus can live on paper currency, which is why many people prefer to use other methods. With cashless, the option to pay can be touchless which is a good idea during the pandemic to cut down on touching surfaces.
Not Catching On:
So far, there has not been a wide-ranging acceptance for digital payment solutions at casinos across the nation. Executives in the industry state that this is due to a few factors like limits that are set by gambling regulators or state lawmakers.
In Nevada, the Gaming Commission is set to host a hearing later this month. They are expected to accept a recommendation by the Nevada Gaming Control Board involving amendments to state regulations that would move forward the testing process for digital payment solutions.
In New Jersey, another state popular among gamblers, the Division of Gaming Enforcement Director, David Rebuck, commented on the fact that cashless transactions are legal in the state. The Division is waiting for products to be submitted by casinos and they can then be approved to use on-site.
The AGA is promoting cashless transactions for gamblers as it allows players to follow limits they set for gambling activity as well as cut down on the number of currency transaction reports that casinos must provide the government.