Vegas cashless gaming could clear way for cryptocurrencies

Nevada’s approval of cashless gaming could ease the way for CasinoCoin to be used in casinos as the pandemic drives move to virtual transactions.

US.- Last week the Nevada Gaming Commission approved cashless gaming in Las Vegas as a measure prompted by the spread of Covid-19.

It passed eight amendments to remove many of the requirements that prevented cashless payments, for example, print outs for slot machines, so that funds can now be transferred directly from a smart device to slots or tables and then back again.

Some observers now see the move as an opportunity for cryptocurrencies such as CasinoCoin to be introduced in casinos.

The NGC has said it hoped the move would be just the first step towards transforming payments in casinos towards electronic transfer systems. Critics have expressed concern that the move could exacerbate compulsive gambling by removing the walk to an ATM to get more cash.

Acting NGC chair Sandra Morgan, and Phil Katsaros and Jim Barbee of the Nevada Gaming Control Board seem agreed that it shouldn’t encourage problem gambling, and have recognised that cashless systems could help enforce self-exclusion.

Sandra Morgan told the Las Vegas Review-Journal back in May: “I’ve been pretty public saying that I’m open to looking at new ways that technology can help attract new customers and be beneficial for not only the industry but even for responsible gaming measures as well.”

The NGC hasn’t mandated self-exclusion measures to be required in new cashless system as yet, but commissioners suggested that it will be considered for the future, which could make cryptocurrencies an attractive option.