In 1985, Phil Collins’ album “No Jacket Required” topped the charts. 38 years later, three Pennsylvania casinos hope they replicate that success by making wallets unnecessary.
Parx Casino Shippensburg and Rivers Philadelphia have successfully integrated cashless payment systems into their gambling options. Valley Forge Casino is trodding a path toward the same end with a long, long way to go.
Pennsylvania casino patrons have more cashless options
Cashless gaming options are mounting in Pennsylvania, likely causing ATM operators to say they don’t wanna know. Corey Sharp of PlayPennsylvania reports on the latest updates along the cashless gaming lines at the three aforementioned casinos.
- Parx has introduced a digital wallet that slot players can use to fund their play and accept winnings
- Rivers has integrated the Rush Credit program through a partnership with Marker Trax which features a cashless, contactless digital wallet
- Valley Forge is currently testing a voucher system for table gameplay
Sharp says that among the benefits for players are ease of access and enhanced security. However, cashless systems help the casinos adapt to changing consumer habits and preferences, keeping them relevant for at least one more night.
Cashless systems keep casinos in the game
When it comes to entertainment options, consumers can do everything from buy tickets to pay for merchandise and even tell a rideshare driver to take them home without any cash. Casinos are only starting to catch up to developing cash-free trends, though.
The Federal Reserve Bank of San Francisco last year shared that its research shows that United States residents use electronic payment forms for more than 6 in 10 face-to-face transactions they are involved in. At the same time, the same data show that consumers use cash for those purchases less than 30% of the time.
An October 2022 Pew Research Center poll revealed that 41% of respondents stated they hadn’t used cash for any transaction over the preceding week. In 2018, that same percentage sat at 29%. Pew also said that just 24% of respondents said that they used cash for all or almost all of their purchases during the same time period.
Furthermore, it seems these numbers are set to only grow in the future according to Pew. Only 54% of respondents 50 years of age or younger said they don’t concern themselves with keeping cash on hand. While most casinos have ATMs on site, consumers could start increasingly preferring to avoid transactions that will require them to acquire cash.
Getting these systems in place now helps casinos position themselves to keep the slots rolling amid these trends. However, that also requires state governments and regulatory agencies to keep pace, too.
Casino regulations catching up with cashless trends as well
Earlier this year, regulators in Louisiana, Mississippi, and Missouri modernized their rules for their casino licensees to implement cashless systems. Pennsylvania preceded them in this way and the regulation keeps players from getting their financial lives turned inside out.
While cashless systems can keep both casinos and players from having to handle large sums of money, there are still security concerns with digital payment systems. They’re just different security concerns.
Systems’ vulnerability to cyber attacks is always a concern. That’s why governing bodies like the Pennsylvania Gaming Control Board require casinos to receive approval and undergo testing before they offer cashless systems to the public. That way, players can be sure that casinos’ cashless systems weren’t last updated when No Jacket Required dropped.
In short order, cashless systems on some level could be standard at Pennsylvania casinos. To what degree consumers will flock to them, only you and I know.