The American Gaming Association (AGA) has released its Payments Modernization Policy Principles, a potential plan for reducing the need to use cash at American casinos after it found that 57% of gamblers wanted the chance to play without handling cash. As COVID-19 cases pick up in Arizona and elsewhere, American gamblers are concerned that handling cash could be a transmission vehicle for the Coronavirus.
Last week, the AGA confirmed that 60% of all American casinos have reopened. However, as we reported previously, many of them are operating at as little as 15% capacity.
Digital Payment Options at Casinos
The AGA report not only underscores gamblers’ concerns about handling cash, but it also believes that digital payments will help gamblers control their spending and will also allow them to review and keep track of their gambling activities better. It may also help law enforcement track criminal offenders and reduce money laundering and associated financial crimes.
It’s understood that a few Nevada casinos have already tried cashless payment systems and are now working with regulators to iron out the details.
Avoiding Land Casinos Altogether
Of course, players who are aware of live casino gaming have no need to take the risk of visiting land casinos and potentially contracting the deadly virus. Instead, they can enjoy roulette, blackjack, and other card and table games online. These casinos also offer game shows like Deal or No Deal and Crazy Time, which land casinos can’t match.
We’ve reviewed dozens of high-quality live casinos with games from Evolution Gaming, Ezugi, Playtech, and others. We highly recommend UK and European players check out Casimba and avoid land casinos until there’s either a vaccine or effective treatment.
What Could Cashless Payments Look Like?
There are a number of potential ways that land casinos could facilitate cashless payments. From simple loading of accounts with bank cards to buying chips with mobile payment wallets like Apple Pay or Google Pay, to potentially using cryptocurrencies once regulations allow it, the current environment is ripe for innovation and change.
However, aside from the benefits mentioned above, there are some potential drawbacks. Some gamblers won’t want gambling transactions appearing on their bank or card statements, while others will have data and privacy concerns related to digital payments.
Up until now, cash has been king in the gambling industry, but if there was ever a circumstance that could change that, a deadly pandemic would be it. We’ll keep you updated as this story develops.