Nevada is home to one of the biggest betting gaming industries in the US. This week, betting in the Silver State became even more convenient. The Nevada Gaming Commission approved the use of remote registration and funding options for gambling accounts. This means that bettors can now use their smartphones or desktops to set up gaming accounts. They can also place money onto their accounts before they go to one of the many Las Vegas casinos.
In addition to the approval of remote registration and deposits, Nevada also approved International Gaming Technology’s (IGT) Resort Wallet. IGT’s Resort Wallet gives bettors another option for remote depositing their gaming funds. Resort Wallet is a module of the IGT ADVANTAGE casino management system.
Despite the approval of remote registration options for most gambling types, it is still not allowed for sports betting. For now, regulators are continuing to protect casinos’ investments in their physical betting locations. Remote registration options could reduce the number of bettors that use in-person sites.
Why Was Approval Delayed?
Sightline Payments launched its remote registration system last July, but bettors could only use it in a limited capacity. Players could manage their funds from the app, but they had to deposit funds using in-person options.
Now with the new regulations, players can use the system to its full capabilities. The cashless system should allow for a more convenient betting experience. As casinos continue to bounce back from losses caused by the pandemic, a more convenient experience could attract new bettors.
Officials also wanted to make sure that the remote cashless registration app did not violate any federal laws. Specifically, official swerve concerned about federal money laundering laws. According to the Nevada State Attorney General’s office, remote registration technology does not violate federal legislation. With their concerns addressed, the NGC had no reason not to approve the technology.
Nevada Also Approved IGT Resort Wallet
Sightline Payments’ app was not the only one approved by the NGC. The regulatory body also approved the IGT Resort Wallet. According to IGT, their Resort Wallet will eliminate the need for players to cash, ATMs, kiosks, or casino cages. In order to access it, players must be IGT Advantage users.
On the casino’s side, apps such as IGT Resort Wallet can provide some benefits as well. IGT boasts that its technology can adapt to the needs of the casino, while also increasing cash liquidity on the gaming floor.
Approving IGT Resort Wallet was the natural next step for the NGC. IGT has been one of the leading developers of gaming technology in recent years. Resort Wallet was awarded the “Product Innovation of the Year” award in October at the Global Gaming Awards in Las Vegas. IGT also received the “Technology Prover of the Year” award at the International Gaming Awards last September. IGT won the award as a result of its Resort Wallet and IGTPay.
Remote Registration Not Approve for Sports Betting
Nevada took a big step forward by approving the use of remote registration and depositing options for casino games. However, the NGC did not approve the use of remote registration for sports betting. Nevada is not the only state that prevents remote registration for sportsbooks. Other states, such as New Jersey and Illinois, also prevent it.
These sports betting resorts rely on players being physically present to make their profit. If bettors did not need to go to the lounges in-person to register, it could severely reduce the amount of traffic, and profit, they experience.
Despite the need for in-person registration, Nevada and other states have still put up record sports betting numbers. Nevada’s sports betting handle topped the $1 billion mark multiple times last year. States with similar restrictions, like NJ, have also been able to overcome them and produce massive sports betting revenues.
One of the biggest gambling markets in the world just got a major boost. The NGC approved the use of remote registration for cashless gambling at casinos. Now, it will be easier for bettors to be able to use cashless payment apps at casinos in Nevada. One such app was released by Sightline Payments at the World Resort Las Vegas casino last July.
Remote registration offers bettors the option to create and fund their gaming account from anywhere. The convenience of doing so from one’s mobile phone or desktop computer is unmatched. It is also safer for players, as they do not need to carry cash with them to the casino. The casino also benefits from a higher level of liquidity.
Nevada officials approved remote registration for casino games, but not sports betting. The NGC will continue to require in-person registration at sportsbooks. This move was not unexpected. It ensures that player traffic at physical sports betting sites will not be impacted. Many casinos have heavily invested in their sports betting lounges and allowing online alternatives would greatly affect their profits.