The US market continues to embrace cashless gaming at a rapid rate, as operators increase engagement through the integration of cashless capabilities.
This year the American Gaming Association urged the sector to adopt more accelerated shift to cashless solutions across US facilities, with 57 per cent of visitors said to be in favour of such a switch in light of the health pandemic.
In a recent interview with CasinoBeats, Matthew Dickson, BitBoss CEO emphasised that: “Players are interacting with their money outside the casino in many new ways. Venmo, Zelle Cash App and others are changing how people bank and pay. Nevada recently amended their regulations to allow for cashless gaming.
“Major manufacturers are rolling out their versions of the cashless casino. COVID is accelerating this trend as people view money as dirty and a possible transmission vector.”
BitBoss, a gaming company that is leveraging Bitcoin SV blockchain technology to tie the casino world into the online world, emphasises that cashless solutions have the potential to revolutionise the experience for gamers while simplifying operations for casinos, all while fostering a safer casino experience for all.
Looking closer into the key issue of fostering a safer environment for players, Dickson elaborated: “I think by and large casinos are very safe spaces. When we talk about safer environments for players we can also mean from a responsible gaming perspective. This is where cashless can really shine.
“Cash is anonymous and it’s hard to track bad behaviour by addicted gamblers. Cashless is quickly evolving to help players self exclude or limit losses. Warnings and notifications become much easier to provide to the customer when their spendable funds are held in a cashless wallet.”
As previously alluded to, BitBoss utilises blockchain technology, Dickson went on to analyse just how this would help drive a revolutionised gaming experience for players and why it’s crucial in a new era for the industry: “It helps to understand what blockchain technology was actually created to do. It was the first time you could create trust between two people over the internet without a trusted middleman,” he commented.
“This elimination of the need for a middleman is what makes blockchain so revolutionary for the gaming space. Players are always transferring money from their banks to the casino and then around the casino ecosystem.
“Money transmitters have always been a necessary party to transfer the money from one party to the next. Enter the blockchain. The transfer of value without the need for a trusted middleman. This is what will revolutionise the player experience.
“Casinos can now accept transfers from the player without paying money transmitters 2 per cent to 3 per cent. Players can now seamlessly move money to friends and family while on property without paying high fees.
“Retail shops can avoid credit card processing fees. The players will keep more of their own money and the casinos will offer a better experience. In today’s world, it’s all about giving the customer a seamless experience.”