In focus: Sightline Payments

The Last Case for Cashless

Cashless payment options are everywhere – across multiple industries and the world. But as cashless becomes the norm, casinos continue to lag behind. However, that is changing as gaming responds to consumer demand, takes advantage of updated gaming regulations and evolves with technological innovation. The question is no longer if a casino should offer cashless but when.

Cashless is not just the future, it’s the now

According to the PYMNTS’ 2023 Global Digital Shopping Index (GDSI), 567% more in-store shoppers year-over-year paid via a contactless card, digital wallet usage was up 33%, and 48% of US shoppers see payments choice as a highly important feature.

and Co-CEO Omer Sattar. “Or think about the last time you paid by cash when you used a taxi – that’s if you didn’t use Uber or Lyft, which is strictly cashless. The world has gone cashless, but our industry isn’t there yet.”

Shrinking hurdles

Consumers have adapted to cashless and most other industries have embraced it. So why is gaming lagging behind? Casinos typically stated two reasons: cost and regulations. But all that is changing. When it comes to cost, casinos are now taking into consideration the costs of cash handling and processing. Also, the savings gained when using a closed-loop wallet is significant.

Better patron experience

The biggest advantage to casinos offering cashless payment options is the ability to offer a smoother experience to their patrons. According to the American Gaming Association (AGA), 57% of all previous-year casino visitors and nearly 90% of high-frequency, high-value casino guests want to use digital payments on the gaming floor.

This makes it easy for someone to pay for their gaming and entertainment throughout the resort using a single payment method – while earning loyalty – without having to stand in line at an ATM or cashier cage increases customer satisfaction. This experience is not just a theory. It’s a real-world example of an experience Sightline has already created at casinos like Resorts World Las Vegas.

We are already living in a cashless world, and the race is on to offer patrons an experience they’re already accustomed to in other industries. Fail to do so and risk losing patrons to a casino that can.

The increase in cashless adoption by consumers can be boiled down to convenience, cost savings and security. More and more carry smartphones, and enjoy the convenience of a digital wallet, removing the need to stand in line for an ATM and potentially pay a service fee. It also eliminates the need to carry around large amounts of cash, reducing the risk of loss and theft. “The next time you stand in line at Starbucks, pay attention to the number of people who pay via their phones versus a bank card, let alone cash,” said Sightline Co-founder

As shown in Sightline’s new Insights Series, What Gaming Can Learn from a Big Box, which unpacks how the retail and restaurant industries use an omnichannel customer engagement approach, 20% of Target’s revenue comes from customers using the retailer’s RedCard, amounting to nearly $20bn in 2022. This means Target saved roughly $500m on interchange fees alone from using a closed-loop system. The full report can be accessed on Sightline’s website by becoming a Sightline Insider.

Also, gaming regulations in nearly every jurisdiction have been changed to allow for cashless gaming. These regulatory changes have been driven by evolving consumer perspectives around cash, and the ability for cashless gaming to aid in efforts around anti-money laundering, responsible gaming, and patron safety.

These changes are paving the way for what’s possible when going cashless.