- The American Gaming Association found that 59% of gamblers want to see a digital payment option available at land-based casinos and sportsbooks.
- Digital payment options must first be approved on a state by state basis before venues are allowed to offer them to patrons.
- The odds of every state accepting this idea are slim, but a few major players could change the entire industry.
NEW YORK – The time for digital payments and alternate forms of funding outside of cash is something that is finally being considered by casinos, sportsbooks, and the American Gaming Association (AGA).
The AGA released a proposed plan to modernize payment policies at gaming establishments based on poll findings given to gamblers.
Over 59% of bettors believe in the importance of a hands-free option when making payments on bets and other games, now more than ever because of the current Coronavirus Pandemic.
Modern Payment Proposals
Not only would a non-cash, contact-free option be sensible in a post-COVID-19 world but it would also attract a younger demographic to gamble at land-based establishments.
Internet and mobile sportsbooks already accept and payout with no actual cash changing hands.
The newer generation is very well acquainted with these types of payments with apps like Zelle, Cash App, and Apple Pay, where they do most of their personal money exchanges daily.
The change in accepted payment methods would need to be done on a state by state basis. However, the findings and backing of the AGA could be enough to sway states in the direction of these cashless exchanges.
Considering the COVID-19 outbreak and the need for revenue when lockdowns are lifted and casinos and sports betting facilities are allowed to reopen, this is a very attractive option for more business which equates to more betting revenue in the states with legal gambling.
Sightline Payments has been working with legal US sportsbooks like FanDuel, William Hill, and DraftKings as a digital payment provider with their Play+ product.
They even offer their services to Pennsylvania’s iLottery.
The company believes they could be the answer to land-based sportsbooks and casinos with Play+ should states choose to legalize digital payment methods.
“Winnings can be immediately cashed out and used for spending, both on-premise at the casino or off-premise, everywhere that accepts Discover cards,” said Kirk Sanford, founder and CEO of Sightline Payments. “It removes one more obstacle to the hygienic running of a gaming floor and reduces costs for constant cleaning.”
It’s Up To The States Now
States with legal gambling will now have to decide on whether or not to allow for this form of a transaction at their gaming establishments.
The information obtained by the AGA is very detailed in how it could work on the gaming floor and why it’s crucial to follow on trend with the modernization of today’s society.
“Advancing opportunities for digital payments has been one of our top priorities since my first day at the AGA. It aligns with gaming’s role as a modern, 21st-century industry and bolsters our already rigorous regulatory and responsible gaming measures,” said Bill Miller, AGA president and CEO. “The COVID-19 pandemic made it all the more important to advance our efforts to provide customers with the payment choice they are more comfortable with and have increasingly come to expect in their daily lives.”
The people have spoken and more than half want to see this at their gaming venues.
States could use the revenue that the addition of this method would bring as people would stay and gamble rather than walk out as some have done in the past because no digital options were available.
It will also appeal to a whole new demographic, make for a more modern gambling environment and be completely on track with guidelines for the new normal in a post-COVID-19 environment.
Christina has been writing for as long as she can remember and does dedicated research on the newly regulated sports betting market. She comes from a family of sports lovers that engage in friendly bets from time to time. During the winter months, you can find Christina baking cookies and beating the entire staff at Mario Kart…the N64 version of course.