Las Vegas Inches Closer To Cashless Sports Betting

Las Vegas gaming officials conducted several meetings in the last two weeks, as the city and state opened the casinos again. The city has been paralyzed by the massive worldwide shutdown of sports and other industries due to the pandemic.

Now, as places are starting to open up again with some very apparent restrictions in place, physical currency may be on the way out in Vegas and the rest of Nevada. The Nevada Gaming Commission announced a huge change on Friday.

The Commission has removed existing restrictions that were in place that did not allow cashless wagering in the state. This is a very bold move according to a source that was involved in this new ruling by the Commission.

This measure to allow bets to be placed without cash has been met with a huge amount of resistance in the past.

Pandemic Played A Role In The New Ruling

According to a source with knowledge of the decision to allow cashless bets, the coronavirus certainly played a role in this new ruling. The source explained that any way to reduce human interaction is something that moves to the top of the list now.

Methods of minimizing the risk of spreading the virus among employees at casinos and guests will always be revisited. Casinos in Nevada and all across the country have been advocating for ways to conduct gaming business without cash.

Gaming expert Scott Nelis of St. Louis said, “not using cash for gambling transactions always made sense, but now, it just seems like a no-brainer.”

Nelis added, “Way before the virus surfaced, less and less people going to casinos didn’t have cash. We are moving into a cashless society all over the world.”

Before the new ruling on Friday, the rules were that money had to be digitally transferred to machines inside of casinos and other gaming locations.

Cashless Was Going To Happen Sooner Or Later

The way players entered a casino without cash prior to Friday’s ruling was a bit of a hassle, say some people. The digital transfer of funds had to be done inside of casinos and other gaming locations, and then the machine would print out dollar amounts. Therefore it was never completely cashless.

According to the new ruling, players will be able to complete an entire transaction on a sportsbook app or online accounts that can be accessed through any device.

There will be a digital wallet that players can use to transfer funds directly to a sports betting cage or table. It will make things much more cyber friendly and more in sync with the 21 century, and this new way of life that everyone has had to adjust to.

The most significant change for players that already had sports betting mobile accounts is that now it will not be necessary to make deposits and withdrawals in person with an employee.

Some resistance to cashless sports betting revolved around the fear of addiction. The CEO of the Gaming Commission, John Moran, said the new rule will have no impact on addiction.