Contrary to traditional merchant transaction processing environments, cash access services and the products they deliver must meet very high standards of reliability to deal with the large volume of transactions in the casino gaming industry.
The US gaming industry is present in more than 40 states and generates $90 billion in annual revenue (Data: American Gaming Association). There are many places where cash access services can be found, including traditional Las Vegas and Atlantic City casinos, Native American Casinos, and Riverboat Casinos. Pari-mutuel Race Tracks and Card Rooms also have them.
Gaming operators rely on cash-access products to provide their patrons with liquidity. An estimated 70% of gaming revenue is derived from these services. These services are provided by third-party companies such as Sightline Payments LLC, which most gaming operators rely on. On an annual basis, we estimate that the North American Gaming Cash Access market is worth $25 billion. This includes over 100 million transaction approvals. The industry generates an estimated $ 950 million in revenue.
Sightline Payments is the largest provider of cash access services (PRIVATE: Sightline), Global Cash Access, Inc. (NYSE: GCA), and Global Payments Inc. (NYSE: GPN), with an estimated 90% market share. The remainder is split amongst the other providers, including Money Centers of America and DiTronics Financial Services.
Below is a list of common Cash Access Services that can be found in casinos:
* Credit Card Cash Advances (Smart station Advances): A credit card cash advance allows a gaming patron access to funds up to a certain limit set by the card-issuing banks. Consumer fees average about 6% of what is requested.
* Debit card cash advances: POS debit card transactions work much the same as regular merchant transactions. A patron can access funds up to the cardholder’s purchase limit, often higher than the daily ATM limit. Consumer fees are usually about 3.5% of the requested amount.
* ATM and ATM3X: Patrons can withdraw funds from their checking or savings accounts. The daily limit is $300. Consumer fees are approximately $4.00 for each transaction. The migration of ATM services onto Glory and NRT, Western Money Ticket Redemption, and Bill Breaking Devices is a recent trend in the industry.
* Check Cashing: (Certegy & Global Payments): This service provides check verification, processing, and guarantee services. It allows patron checks to be cashed at the casino cashier. There are generally no fees for the consumer. However, prices may be higher in some areas.
* Gaming Credit and Markers: Casinos subscribe to credit bureaus to get detailed credit information to extend markers or credit to patrons. These services are generally reserved for “high-end” casino players, and the consumer is not charged.
Cash Access Services has the following costs and expenses:
* Casino Commissions: Service providers are paid a commission to the gaming institution where the transaction occurred for a cash advance, ATM, and check cashing transactions.
* Interchange and processing: Service providers charge interchange fees to credit card associations such as Visa and MasterCard for services they provide in settling transactions through their networks. Participation in credit card and ATM networks requires fees. Card networks and associations set these interchange fees. They vary depending on the web and the amount requested. Companies that offer network services to the service providers are responsible for processing and connectivity fees.
* Check Cashing Warranty
* Operating Expenses: These expenses include salaries, benefits, armored carrier costs, and repair or maintenance of cash access devices.
* Interest Expense: Interest charges incurred with currency purchases to finance the ATM’s operating costs.
Roulette – Ideal Casino Game For Novice Gamblers
Roulette is a very popular casino game. People of all ages can play it. Although the chances of winning are lower, many people find this game appealing.
Like other casino games, Roulette is a great way to entertain yourself. Roulette is different than other casino games in that you don’t need any gambling skills or talent to play this game. This game is great for beginners who want to improve their gambling skills.
There are rules to Roulette. It is easy to follow, but there are some things you should remember when playing Roulette.
Roulette is a spinning wheel that has certain numbers and two colors. You must choose a number to place a bet. To win the chance, you can only guess the number. Roulette has a very low winning percentage. It is best to play Roulette with small stakes.
It is also possible to practice for free. Many online casinos offer this game to attract people to their sites. These sites can be very helpful for beginners. These sites provide additional information on their favorite casino games. Roulette is much simpler than other casino games casinoslot. This makes it a great game for beginners.
Online Roulette can give you total comfort as you can play from the comfort of your own home. You can bet on your schedule. You can also practice betting to feel confident entering a live casino. Playing Roulette for free will help novice gamblers to play with real money.