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Could Casinos Go Cashless because of Coronavirus?

Discussion in 'Casino Gaming' started by Sonya, Jun 17, 2020.

  1. Sonya

    Sonya Queen of VMB

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    https://www.cnbc.com/2020/06/16/coronavirus-may-sway-regulators-to-allow-casinos-to-say-good-bye-to-cash.html

    Walk into a newly reopened Las Vegas casino and you’ll see dealers wearing masks behind plexiglass shields, with sanitizer at the ready for both chips and hands. What you won’t see is gamblers paying for their wagers with their cell phones.

    That’s because Nevada doesn’t allow digital payments on casino floors. No state does. But that could change — and quickly — because of the coronavirus pandemic.

    The Centers for Disease Control and Prevention recommend “tap-and-pay to limit handling of cash” as part of good hygiene measures to prevent Covid-19. Given this, state legislatures and gaming regulators may be more motivated to permit mobile payments or digital wallets to help curb the spread of viral infections.

    Nevada gaming regulators will hold a hearing on cashless payments on June 25.


    Please read, there is much more in the article.
     
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  2. sinnerman

    sinnerman High-Roller

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    From a regulators point of view, one significant issue in going cashless is that it might be 'easier' for problem gamblers to lose more money than intended. This is especially true if casinos are able to find ways to connect digital apps directly to a players bank account. Also, it is a lot easier to fumble and press the wrong number on a cell phone (hitting an extra zero perhaps), rather than put the wrong number of chips down or even press the wrong bet on a slot machine. This is especially true when people have had a few drinks

    Of course, casinos and regulators could find some kind of a middle ground. For example, depositing physical cash at a casino machine, and then you get a certain number of credits on an app and use that instead of chips. Similar to a reverse ATM.

    Personally, I am not sure if regulators will actually make this change.
     
    Last edited: Jun 17, 2020
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  3. Sfgiants13

    Sfgiants13 High-Roller

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    Not sure how I'd feel about this. I made a lot of money playing poker back in the glory days of online poker. I've tried a couple of times since then to play but always lost it all in the attached sports book or casino. When I drink I just don't view it the same way as I would cash on hand. I know I turn into an idiot when I drink so I limit myself to a certain amount of cash in my wallet and leave the rest in the safe in the room. I also like the Octavius Tower at Caesars since it's the furthest from the casino and I'm not likely to go back down after going up. I also won't go to an ATM. If all I have to do is use my phone to get more money that could spell trouble for me.
     
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  4. sinnerman

    sinnerman High-Roller

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    Yeah, could you imagine being able to push a single button on the phone and transfer money from a bank account to a casino app via a service like Zelle. A lot of people will wake up to a lot worse than a hangover.

    The casino / regulators would have to implement multiple safeguards on such an app. People may be able to enter betting or transfer limits for the next 24 hours and then not be able to override them etc.

    My guess is that there is so much though that goes into it, it simply isn't something that can be implemented quickly enough (say within 6 months) to make a difference to this pandemic.
     
    Last edited: Jun 17, 2020
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  5. 3OfDiamonds

    3OfDiamonds Vegas is Fabulous When You Degen Responsibly ;)

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    Was this not already up and running in some fashion at D/GG? I remember seeing the fees and :eek::eek::eek: As long as there were no fees I’d be all for it :thumbsup:
     
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  6. Michael Smith

    Michael Smith High-Roller

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    I'm already planning on opening a Wynn Sports Book app account this next trip so that my race and game wagering will be online while I'm in Nevada and I won't have to make multiple trips to the window to make a bet.
     
    Breeder's Cup, baby!
  7. Mudhen

    Mudhen VIP Whale

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    How are they going to get around handling chips, and cards, and dice? Make them electronic too? Like a video game you play on your phone?
     
  8. 3OfDiamonds

    3OfDiamonds Vegas is Fabulous When You Degen Responsibly ;)

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    I don’t think the point is to eliminate all possible touch points, just reduce them. Heck, I’m happy to not have to handle cards (more because I don’t have to remember what I need to do with them, especially for splits/doubles... I’m already bad enough with placing the chips in the right place lol). Maybe some people will feel that way about chips too :) Choices are A Good Thing :thumbsup:
     
  9. RushAndRoulette

    RushAndRoulette Low-Roller

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    The kids today that I work with barely carry cash. They get direct deposit of their paychecks, have a mobile app for their train tickets, metrocards for the subways, a Starbucks app for their coffees, Apple pay for much of everything else, venmo to settle up with their friends for drinks, run tabs or pay by credit card for even one drink, have an uber app to get around town, pay their bills online, and trade stocks using robinhood. They have coinbase bitcoin accounts but haven't ever written a check. Some haven't set foot in a bank in years, and barely use ATMs. If Las Vegas wants to get them spending, which of course they do, they have to make it easy, and adapt. That means contactless payment, which the new generation of spenders use 24/7, and already have set their spending limits, blocked transactions without dual verifications, and territorial parameters. It may seem "too easy" for us luddites for getting "cash" available with a swipe or a fingerprint, but its going to happen sooner rather than later. I am sure the people who packed cash in envelopes for each day for their las Vegas trips lamented ATMs in casinos as "too easy" back in the day, too, but casinos will always find new and inventive ways to separate your cash from your wallets, and if they have to change things to get this next generation's walletless money, they will do it for sure.
     
    Maybe a NFL betting weekend? Or ping pong betting?
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  10. ardee

    ardee It's only money.

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    Money laundering concerns, federal regulations and cryptocurrency dark web transactions would have to be considered with cashless gaming.
    Doubt it would happen anytime soon in Vegas without clear cut policies and legislation.
    Will be interesting to see how this moves the future of gaming along.
     
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  11. Multifarious5

    Multifarious5 VIP Whale

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    If I'm comfortable enough to go to a casino, I'd rather take the risk with cash. I don't even like carrying a big TITO around.....much less a direct line to my bank.

    Cash also is a "reality check" for me if I've exceeded my daily budget, if "liquid courage" kicks in. :whistle:
     
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  12. Kisby

    Kisby Low-Roller

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    Does cashless make it easier to track our gambling?
     
    Last edited by a moderator: Jun 18, 2020
  13. JeJas

    JeJas VIP Whale

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    absolutely agree.
    cash only in casino is universal. It needs more than just a state gaming board to change that.
    I don't think they want to open the gate of hell just because of the virus.
     
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  14. vplover

    vplover Low-Roller

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    Doing this could also remove the $1200 taxable payout limit
     
  15. ardee

    ardee It's only money.

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    In what way?
     
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  16. vplover

    vplover Low-Roller

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    Well if it's cashless and you are using an electronic form to play, wouldn't you be getting paid electronically as well? I don't think you would be cashless to buy in and given cash when you leave
     
  17. ardee

    ardee It's only money.

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    Give that another thought. One would still need to report wins from $1200 and above if playing slot games as well as receive paperwork (digital or otherwise) from the casino when the transaction happens. It wouldn’t take that specific regulation away unless it changes through tax law. IRS would be informed of wins regardless of digital or cash handout.
     
    Last edited: Jun 18, 2020
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  18. vplover

    vplover Low-Roller

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    I think the regulation would apply both ways. I totally understand what you are saying. I believe regulation will be required for both. However, in table games no one really knows what you have one on a single hand unless you win some kind of progressive.

    Just for clarification, are you agreeing that the money will be put into your account electronically or they will give you chips to cash out?
     
  19. woodsie

    woodsie VIP Whale

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    I like the cash aspect of Vegas style gambling. I like physical chips. Maybe it is destined to go away but can they please wait 40 years until I'm dead?

    I get the corona thing but when this is all over the people, game pieces, and cash are all part of the fun.

    I only sorta don't miss coin droppers because they are dirty and incredibly inconvenient BUT something was definitely lost when they went away.
     
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  20. ardee

    ardee It's only money.

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    It’s a hypothetical at this point. I guess we’ll find out if and when it happens.
     
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