Cashless Gaming System with Stored Value Accounts
Find Innovative SolutionsGenerate Solutions
Solution Overview
Problem
Current gaming systems in casinos face challenges with paper tickets, including loss, damage, and high costs for replenishment, as well as limitations in tracking player activity outside the casino environment, which affects loyalty programs and cash management.
Innovation Solution
A computer-based method and system that enables cashless wagering and redemption by linking a player's identifier to a stored value account, allowing real-time transfers between gaming and stored value accounts, and integrating loyalty tracking across both casino and non-casino environments.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If paper tickets are used for wagering and redemption, then players can easily understand and use the system, but the casino incurs high costs for replenishment, maintenance, and experiences loss from ticket damage and loss
Solution Approach 1:
The patent replaces physical paper tickets with electronic representations of ticket value stored in a database. The gaming device reads a magnetic stripe or barcode on a player's card to access stored wagering and redemption information electronically, eliminating the need for physical ticket issuance and handling while maintaining the same user experience.
Solution Approach 2:
The patent substitutes the mechanical paper ticket system with an electronic data processing system. Instead of printing, distributing, and physically handling paper tickets, the system uses magnetic stripes, barcodes, and database records to track and transfer wagering and redemption values, thereby reducing operational costs and eliminating ticket loss.
2Productivity
If cash is used for gaming, then players can immediately wager and redeem, but the casino must maintain sufficient cash reserves and incur high costs for cash handling and replenishment
Solution Approach 1:
The patent replaces physical cash with electronic credit balances stored in player accounts at the casino. When a player wagers, the system electronically debits their account; when they redeem, the system electronically credits their account. This eliminates the need for physical cash handling while maintaining immediate transaction capability.
Solution Approach 2:
The patent introduces an electronic accounting system as an intermediary between the player and the casino's financial system. Player accounts serve as intermediaries that track credits and debits, allowing the casino to manage player balances electronically without maintaining large cash reserves on the gaming floor.
3Loss of information
If traditional loyalty cards are used, then players can be tracked within the casino, but the system cannot capture player spending activity in non-gaming environments
Solution Approach 1:
The patent makes the player card and associated database serve multiple functions: tracking gaming activity at casino machines, monitoring player purchases at casino restaurants and retail outlets, and capturing ATM transactions. This multi-functional system provides comprehensive player profiling across all player interactions with the casino ecosystem.
Solution Approach 2:
The patent merges the loyalty tracking system with the financial transaction processing system. The same database that manages player credits and debits also stores loyalty program information, purchase history, and spending patterns. This integration allows the system to capture all player activity automatically without requiring separate tracking mechanisms.
Data Source
AI summary
A transaction facilitation system is disclosed that is configured to affect substantially real-time crediting and debiting of gaming accounts maintained within a gaming environment and structured to communicate by a private restricted communication link with a host to effect real-time crediting and debiting of a stored value account. Financial transactions using the stored value account can be and used customer relationship purposes.