Cashless gambling is a hot topic of debate as of late. In the past, casinos across the United States, particularly in Las Vegas, have pondered using cashless technology so players can easily use slot machines and play at gaming tables without the need for cash. In South Dakota, some casinos would like to make the switch in order to eliminate the handling of cash at casinos.
This year, discussions involving cashless gaming have made a comeback due to the coronavirus. Players as well as employees do not want to handle money due to the extreme ability for the virus to spread. The US has also seen a coin shortage as people are afraid to handle money.
Late last week in South Dakota, Mineral Palace Hotel & Gaming executives had a meeting with the South Dakota Commission on Gaming, presenting how cashless technology would work within the venue. Basically, players would send money to the cashier cage from their bank account. The money then goes into player accounts.
A card is used in a machine, like a slot, and then wins and losses are kept track of on the card. The new system would allow players to enjoy gaming electronically and reduce the need to handle cash. This would be a new way to stop the spread of the coronavirus in the casino. According to Mineral Palace, other casinos are interested in using the same technology.
While casinos are gung-ho about the change, regulators do not seem to be on board. Media reports suggest that at least one regulator does not understand what the ‘end game’ is for the cashless technology and worries that players will gamble more than they can afford since they are not using actual cash.
The Mineral executives pointed out that the new option would be more convenient to the user and the casino would make more in the long run. The Gaming Commission would then make more money from taxes.