Digital Payment Options Coming To A Casino Near You
As in-house casinos slowly begin to reopen after a nearly three-month shutdown due to the coronavirus, social distancing, and limited capacity aren’t the only things that might be different for casino goers. The way you spend and wager your money is also likely to get safer and more convenient.
When many of us think of in-house casinos, we might instantly envision lots of coins and cash. Any avid casino goer knows that there are many steps involved in making withdrawals, wagers, and getting your payout. .
Let’s consider a slot machine. You withdraw cash, put it into the machine, receive slips after you cash out, and then enter those slips into each machine. When you’re ready to call it a day, you cash in your slips for cash.
While you’re not handling cash and cups full of coins throughout your gambling experience, there are a lot of extra steps to take just to get your payout after the end of a successful afternoon.
With COVID-19 still playing a huge role in where we go, what we do, and how we spend, we’re using cash even less than we did before. Pandemic or not, the current method of moving money at an in-house casino seems relatively dated considering how infrequently many of us use or carry cash.
Imagine using your debit card, PayPal, or even Apple Pay when you visit casinos. The options may come sooner than you think.
Changing the Way You Play With Money
At the beginning of the pandemic, when venues and other public places started closing to the public, the gambling industry began to feel the economic hit immediately. Even though iconic casinos in Las Vegas are slowly starting to reopen with safety precautions in place, analysts expect that it will take years for the industry to recover.
Understanding that the livelihood of gambling has experienced a significant setback during the pandemic, The American Gaming Association (AGA) has recently come up with a plan to consider using digital payments on the casino floor.
Earlier this month, the AGA introduced its Payments Modernization Policy Principles, which is an 18-month “collaborative industry effort, that provides a framework for regulatory flexibility” and using alternative forms of payment at in-house casinos.
Not only will digital payments be more convenient, but it will allow for a potentially contactless payment option, which is strongly recommended to prevent the spread of the coronavirus.
The framework will also help customers game responsibly by monitoring their playing and set limits. Digital payments may also be beneficial in making sure that casino operators remain transparent when it comes to money. Digital alternatives can prevent money laundering, and all financial transactions are easier to monitor.
Not Ready to Play at an In-House Casino?
Maybe you’re not ready to start playing at an in-house casino, or maybe your favorite one hasn’t reopened. Fortunately, online casinos offer a huge collection of games to best suit every type of gambler.
Many of today’s online casinos offer a variety of digital payments from major credit cards to cryptocurrency. Check out this review of Planet 7 online casino, for example. The top-rated casino accepts AMEX, Visa, MC, Bitcoin, and Neteller.
It’s important to remember that whether you’re playing in-house or online, you always find out if digital payments are available beforehand to ensure that you’re prepared and keeping your money secure.