Going cashless in U.S. casinos has been a recent talk trend. Experts in the area have discussed how cashless gaming could increase the number of money gamblers spend in casinos, but is this the best thing for casinos?
Penn National, the owner of the Hollywood Casino in Charles Town, West Virginia, has advocated for eliminating cash. If all goes as planned, Penn National plans to discontinue accepting cash in Charles Town by the end of the year.
In addition, the business has discontinued cash transactions in Pennsylvania, Ohio, and Michigan.
Several members of the commission have expressed concern. Before approving it, the State Lottery Commission, led by Ken Greear, wants to ensure that it is the best decision for the players.
“It is simply a matter of ensuring that nothing hinders the gamers’ enjoyment of the game or does not function properly.”
The West Virginia Lottery Commission is considering the proposal. However, some individuals are concerned about how it may affect players in the future.
Why go Cashless?
Cashless gaming does not mean that casinos no longer accept cash. In actuality, the opposite is true. Many gamblers prefer cash and will continue to do so even if there are alternatives to cash wagering.
These individuals should not be forgotten when new technologies are implemented, and cash should remain a component of any new system. Some systems offer the best of both worlds by accepting cash, credit, and electronic payments in one convenient location.
Scott Saunders, vice president and general manager of the Hollywood Casino, told Metro News;
“I believe digital wallets and digital platforms are the future for many businesses, and we want to be a part of it in the future.”
A cashless wagering system must function well and be simple to set up. Thus, the technology is dependable, secure, simple to update, and effective even in high-traffic areas. And because COVID has reduced casino capacity, operators will seek to avoid machine downtime to avoid financial loss. This increases the need for cashless system dependability.
The commission has authorized Penn National’s proposal but has stated that final approval will not be granted until they see the facility in action. In addition, the idea must undergo testing by commission employees, which is anticipated to take many months.
Implementation simplicity is likely the highest priority for every operator. A casino is a network of several technologies, including systems for tracking customers, paying for casino games, and the machines themselves.
A complete overhaul of these technologies would be costly and require extensive logistics planning and monitoring to ensure that everything operated as intended.
Before granting final permission, the panel has requested to observe it in operation. Testing Penn National’s approach by the Lottery staff is anticipated to take many months.
According to Scott Saunders, it could be released by the end of the year. Additionally, he stated that individuals would feel more at ease if they were accustomed to gambling without cash. The commission stated that the designs must be returned before their approval.
It’s just a matter of time now
Cashless wagering benefits both players and operators in numerous ways. The new standards for the sector might help modernize casino floors, make betting easier, more entertaining, and more convenient for customers, and make casinos more efficient and easier to operate.
Adopting and integrating cashless wagering can be a win-win situation and an investment in the gaming industry’s brighter future with the proper solution.
A member of the Lottery Commission, Roy Shrewsbury, stated;
“I need to feel better. I would like to see it function.”
“Regarding staffing, we are not dealing with anything that will cost us money. It has something to do with money and the change.”
The plan must have the West Virginia Lottery Commission’s ultimate approval.
Last Updated on by Ryan