Nevada Gaming Commission’s regulation 5.225 effectively required all new cashless wagering technologies to create a wagering account. However, wagering account creation causes numerous challenges, among them:
- Increased consumer friction and confusion
- Higher enrollment expenses for the casino
- Incremental IT complexity and cost
- Incremental operational costs and change management issues
Those challenges created a negative ripple effect across the gaming industry for casino operators on multiple levels. But, while some only see the negatives, others see the opportunity.
Global Payments Gaming Solutions, a division of Global Payments, that enables the world’s gaming entertainment leaders to create amazing consumer experiences and maximize spend across all of their physical and digital properties, saw the opportunity and proposed a change to regulation 5.225 and it was approved.
So, what does that mean to the industry and how does that impact Global Payments Gaming Solutions?
Simply said, Global Payments Gaming Solutions' VIP Mobility™, an industry leading payments platform for gaming organizations, enables true cashless casino gaming and is the only cashless solution in the market that doesn’t require the creation of a wagering account. This change enables the deployment of a solution that is easier for the casino to install, operate and maintain while delivering an exceptional consumer experience.
Regulation changes rarely take place with the Nevada Gaming Commission and while that is news within itself, the regulation change speaks to the forward thinking and quality of the Global Payments Gaming Solutions innovations. It also highlights the regulators need and commitment to have this deployed into the market.
As the business model of the gaming industry continues to evolve, this regulation change is a win for the patrons and a win for the casino operators as it sets the stage for more robust, cashless betting options as regulators pinpoint the difference between wagering accounts and wagering vouchers.
To learn more about Global Payments Gaming Solutions and how they are helping casinos operators and patrons enjoy a better experience, and why there are more than 3.5 million patrons that rely on their solutions for simple, safe, and responsible play, click here.