Cashless Gaming: The Inside Story of The Future
 Over the years gaming has been a part of almost everyone's life. Participation can take many forms from casual week-end golf betting to high stakes casino wagering. Motivation is equally varied, from just trying to beat the odds, to a chance at a life-changing win at black-jack table. When serious gaming is mentioned it is almost always in connection with casino operations. Within that context, casino gaming falls into three separate categories: table games, sports book and slot machines. The slot machine is the newest and most profitable component of casino gaming. Since 1890 the basic machine has gone through many innovations to bring it to what it is today; a computer that provides entertainment, while giving the player a chance to win a considerable wealth. The last big advancement in slot technology was the bill acceptor. Until it was introduced in the 80's, all play was done with coins or tokens. The bill acceptor's origins are in the vending industry, and when it was suggested for gaming, the conventional wisdom held that it would never work because most slot players were low level coin gamblers and would never put $20.00 in a slot machine at one time. The success of the bill acceptor is why the lowly slot machine has become the most profitable part of the casino operation today. The reason the bill acceptor made the transition so easily to gaming is because the players used them everyday to buy soft drinks, cigarettes, and many other things that can be vended.
The same sort of conventional wisdom declared the ATM card a failure when it was introduced. It has since become a cornerstone of banking as a revenue source and an indispensable convenience for the public. Five years ago we were told that asking a player to get a plastic card to gamble with would never work. Why does cashless gaming work? For the same reason the bill acceptor worked. People are familiar with using a card to do most of their day to day business. Using the card for gaming is simply a natural extension of their experience with cards.
Most people agree cashless gaming is the next big step in our industry, some have said it is 5-8 years away, but we have been doing it for 5 years, and with that experience we have developed a product that is casino ready today. We also think cashless could become a part of future compact negotiations in Indian Country because of its inherent security features.
© 2004 Standing Stone Gaming
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