Casino Credit Instrument With Collateral-Based Access Control
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Solution Overview
Problem
Traditional gaming machines require players to provide monetary value for play, which can be cumbersome, especially when funds are not readily available or accessible.
Innovation Solution
A casino credit access instrument that allows players to access pre-authorized credit for gaming and other activities, with features such as collateral requirements, credit limits, and defined redemption periods, managed by a casino gaming system.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If traditional gaming machines require players to input coins or paper currency, then the gaming machine can verify monetary value, but the player experiences inconvenience when funds are not readily available
Solution Approach 1:
The system performs preliminary credit authorization by verifying collateral and approving credit limits before the player needs to play. The credit account is pre-established with authorized limits based on collateral verification, eliminating the need for players to have immediate cash or coins available at the gaming machine.
Solution Approach 2:
The invention introduces an intermediary credit account system between the player and the gaming machine. Instead of directly requiring cash or coins at the machine, the system uses a credit account that can be funded through various methods (cash advance, electronic transfer, check cashing) and then used at the gaming machine, mediating the transaction between the player's funds and the game requirements.
2Ease of operation
If gaming machines dispense coins or cash for wins, then players receive immediate monetary value, but the casino experiences increased need for cash handling and security
Solution Approach 1:
The system replaces the mechanical cash dispensing system with an electronic credit transfer system. Instead of physically dispensing coins or bills from the gaming machine, winnings are credited electronically to the player's credit account or associated payment method, eliminating the need for complex cash handling infrastructure while maintaining the ability for players to access their winnings.
3Ease of operation
If players can access credit for gaming, then funding convenience is improved, but risk management becomes more complex for casinos
Solution Approach 1:
The system performs preliminary risk assessment by verifying collateral and establishing credit limits before allowing any gaming activity. The collateral verification and credit authorization are completed in advance, creating a pre-approved framework that simplifies ongoing risk management while enabling convenient player access to funds.
Solution Approach 2:
The system implements continuous feedback mechanisms by monitoring player credit usage, collateral values, and repayment behavior. The credit management system tracks account balances, enforces credit limits, and adjusts credit availability based on player performance and collateral status, creating a dynamic risk management approach that adapts to changing conditions.
Data Source
AI summary
A casino credit access instrument comprises a source of funds for a player, such as for placing wagers to play casino-style games or to purchase other goods or services. The instrument defines a period of timed during which credit may be accessed up to a predetermined amount, defines a redemption period during which any accessed credit may be re-paid, and defines settlement terms if the instrument is not redeemed. Controls may be utilized which control access to the credit. Credit may be granted based upon financial collateral, which collateral may be executed upon to settle the instrument. The instrument provides a convenient source of funding for players at low risk to the casino or other lender.