Gaming Industry Calls for Cashless Payments & Betting Across the US
Recently updated on June 19th, 2020
In the past 18 months, the American Gaming Association (AGA) has been reviewing the gaming industry to modernize payments. Reportedly, the review is a “collaborative effort” by the sector to move to the digital sphere. According to AGA CEO and President and CEO Bill Miller, this is one of the group’s top priorities in all states.
In fact, the COVID-19 pandemic has motivated the AGA to push for contactless payments and give customers options they’re comfortable with. Still, it could be a long way off, even as casinos reopen across the US. So, how would it work if lawmakers agree with the gaming industry?
Steps for Gaming Industry Going Digital
Since casinos are mostly cash-based, moving to digital payments has several benefits, starting with safety and security.
Allegedly, going contactless is in the best interests of the house, security, customers, and law enforcement. Mainly because it would be easier to track payments and identify any suspicious behavior. Of course, it’ll need some tweaking, but that’s for legislators to debate.
In the meantime, the AGA has proposed seven “Payments Modernization Policy Principles” for the initiative:
- Give players “more tools” to gamble responsibly.
- Offer customers more choices for payments.
- Ensure that state laws are written with a “flexible regulatory approach” to keep up with demand.
- Consider and address existing and rising public health concerns.
- Provide customers with “confidence in digital payment security.”
- Generate a “uniform regulatory environment” for casino regulators, operators, and suppliers.
- Allow law enforcement to identify identity offenders through digital payment investigations.
Digital Solution Benefits
Further statements from the AGA claim that going digital has two significant benefits: players can limit losses, and casinos can track suspicious activity better. By enabling payment choices, the group believes that gamblers can feel safer within the casino.
Moreover, it can help casinos identify customers who withdraw more than $10 000 in 24 hours. With digital payments, it could become easier to create a trail to analyze and apprehend offenders. However, there will have to be privacy considerations if states choose to adopt the solutions.
COVID-19 Impacts Gaming Industry
Scientists predict that we’ll be dealing with COVID-19 for at least two years. Thus, moving to contactless payments has become the AGA’s priority as hygiene takes center stage. Of course, the CDC also encourages contactless payments outside of the gaming industry. So, there’s one argument for states to move into the 21st century, at last.
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