Technology improves the way patrons can play. Ever since the pandemic, contactless payments and digital transactions have exponentially increased because of their convenience and speed. These payment methods are now the preferred practice for any transaction, so the gaming industry began to adopt new technology into their systems. The process is streamlined and simple, but some people have reservations about the new ways to fund their play.
The gaming industry has grown and by the nature of gambling, people have concerns. The payment process and direct access to funds have become so easy that controlling spending might become difficult for those impacted by compulsive gambling. Digital transactions aren’t tied to anything physical, like cash. According to Retail Dive, studies have shown that mobile payment users nationwide are spending twice as much as those not using a digital wallet. This means there is truly a whole new approach to gambling because of new payment options and easier access to funds. Consumers increasingly prefer flexibility and choice when it comes to paying, no matter where they are. Nevertheless, the world around us is becoming very technologically advanced, so technology is here to stay in the gaming industry and needs to be dependable to advance the industry’s focus on responsible gaming.
Cash continues to have a high presence on gaming floors across the country. Compared to advanced mobile capabilities, playing with cash is an experience that is increasingly inconvenient, expensive and insecure for both patrons and casino operators. For instance, patrons previously would walk into a casino with cash in hand and that was the limit they would set for themselves. Now, casino payments are as easy as clicking a button. Transferring funds directly into play is instant and gambling is available on many platforms through mobile devices. For instance, casinos have implemented seamless payment experiences by connecting slot and table games directly to the patron’s mobile device in real time. With the easy movement of finances for gaming, how can patrons ensure those same limits are easily achieved in the digital world?
Casinos and gaming associations take accountability by advocating and promoting responsible gaming. The American Gaming Association (AGA) has created Responsible Gaming Education Month (RGEM) which is a month-long promotional campaign to bring awareness to responsible gaming and increase patrons’ knowledge of gaming literacy. AGA’s program helps educate consumers on the basics of responsible betting and problem gambling awareness. The gaming industry builds its credibility and trust by raising awareness and discussing the importance of a safe and responsible gaming experience.
Cashless transactions can enhance responsible gaming measures by empowering patrons to be in control over their payments in an effective and secure way. When using mobile transactions, you can see exactly how much you spent and where. Everything is tracked in real-time as you spend, which makes saving easier and increases the awareness of where finances are going.
As gaming technology evolves, its implications for responsible gaming grow alongside it. Digital platforms help provide patrons with many resources to play responsibly. The new technology provides patrons and casino operators with the tools to better identify and curb problem gambling. By streamlining payments and access to funds, gaming technology has become a convenient way for casinos to oversee and regulate the flow of payments in and out.
The prevention of problem gambling is always a top priority, and there are many strategies for people to responsibly control and track their finances. Consumers can rely on digital technology to create a convenient and easy experience when it comes to controlling payments. A way for patrons to limit their cashless spending is by implementing pre-set spending limits through their mobile devices, just like they could with the traditional use of cash.
For serious cases, gaming technology allows patrons to enable voluntary self-exclusion, which means patrons exclude themselves from gaming further. It is a hard stop to gambling, which implies that no matter the circumstances, the patron is prevented from funding their gambling activity electronically. This digital capability drives responsible gaming by allowing voluntary cut-off from cashless spending that can’t be reversed until the network approves. In other cases, there are cooling-off periods that are used to put patrons’ digital funding of play on pause for a specified amount of time. Even though cashless transactions are seamless, gaming technology also provides patrons with advanced safety resources.
Far from being an obstacle to responsible gaming, cashless transactions and gaming technology enable a safe and secure payment environment by giving patrons control over their spending. Responsible gaming and cashless transactions are meant to work hand in hand to provide simple and easy gaming and payment experience for patrons. When technology is implemented in a safe way, patrons, casinos and associations will all benefit. The gaming industry doesn’t ignore patrons’ concerns. It’s responsible for addressing any problems and implementing safe and secure tools and technology.
Ultimately, when patrons play responsibly, it builds and supports the integrity and sustainability of the gaming industry. Global Payment Gaming Solutions is an advocate for responsible gaming by providing patrons with technology that is safe and secure to improve their gaming experience.
