7️⃣7️⃣7️⃣The evolution of online payments in casinos: from cash to cryptocurrency deposits

7️⃣7️⃣7️⃣The evolution of online payments in casinos: from cash to cryptocurrency deposits

This valuable report from "Gambling Insider" offers us an interesting view and a journey through recent history.

🔠 In physical casinos, the implementation of cashless payment methods is happening quite slowly, but it is gaining momentum thanks to careful integration with obsolete systems. For example, to improve their cashless betting ecosystem, US physical networks 🇺🇸 MGM Resorts, Caesars Entertainment and Resorts World Las Vegas partnered with Sightline Payments... The cash trend is becoming less and less present.

🔠 Regulatory changes have accelerated the shift towards cashless payment even more. For example, the European Union's "2nd Directive" on payment services (PSD2) advocates for creating safer and more innovative electronic payments, promoting the formation of a more competitive and integrated European market.

🔠 The transition to cashless payment in casinos seriously began with the emergence of "ticket-in, ticket-out" (TITO) technology in slot machines. This innovation, first proposed by companies like International Game Technology (IGT), marked the beginning of the end of coin machines.

🔠 Payment technologies took a leap with the emergence of online platforms. Companies like Neteller and Skrill have become synonymous with online gaming, offering safe and convenient ways to deposit and withdraw funds.

🔠 The emergence of cryptocurrency casinos has further diversified the payment environment.

🔠 The outdated casino credit, which traditionally is a laborious operation, has evolved thanks to technology providers like Light and Wonder and Aristocrat, who collaborate with the cashless token system developer Markertrax - allowing fans of "table games" to access cashless casino funds.

The transition to a more digital and cashless environment is a change not only technological, but also cultural... In a sense, even philosophical.

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