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Money Matters Of Casino

Money Matters

Another solution to the coin-handling problem is the use of cash tickets in Online Casino. When you cash out, instead of dumping a bunch of coins into the tray, the machine spits out a printed ticket. You may then bring the ticket to a cashier and convert it into real money. This is more convenient than toting around a bucket of coins. For the casinos, the advantages are even greater. They no longer have to employ all the people who spent much of their time filling and emptying coin hoppers and spent the rest of their time keeping records on where the coins went. The lines at cashier cages move faster because buckets of coins don’t have to be counted, and there aren’t any jammed coin counters holding everybody up.

Cash Tickets

The newest generation of cash tickets can be inserted into other slot machines as if they were real currency. These tickets have a printed bar code (see illustration) that the machine reads to register the appropriate number of credits. Although the tickets look as if they are easily reproducible with a copy machine, don’t try it. Each one contains a unique numeric security code. Any attempt to use or cash a second ticket with the same code will set off alarms. This completely coin less system has become prevalent in Tribal casinos, and several Las Vegas casinos are trying it out as well. When one of the newest casinos in Las Vegas, The Palms, opened its doors in 2001, all of its Casino slot machines had cash ticket capability. Clearly, the use of cash tickets is rapidly spreading. If you play in a casino that uses cash tickets, handle the tickets you receive as if they were cash. Actually, you should handle them more carefully because they are printed on thin paper and are more fragile than greenbacks. Not only are they fragile, but they usually expire in thirty days, so be sure to cash them in before leaving the casino. Of course, this evolution toward cashless gambling will eventually lead to the use of smart cards that will credit and debit your account as you play. Such cards are currently under development and are expected to be similar to slot club cards. As you can well imagine, these coin- less and cashless systems only benefit the casinos and are especially detrimental to compulsive gamblers.

Cashout And Handpay

At some point in your slots play, you will want to cash out your credits. You must do this by pressing the CASH OUT button. Before pressing the button, however, note how much the machine owes you. After it has finished dumping coins, check the credit meter again to be sure it registers zero. If it doesn’t, either the coin mechanism has jammed or the hopper ran out of coins. This is the time to call an attendant by pressing the CHANGE or SERVICE button. When cashing out, a machine will only dispense a certain maximum number of coins because of limitations in the coin hopper capacity Depending on the denomination of the particular game, this number may be anywhere between 500 and 1000 credits, as indicated by a sign on the cabinet. If the credit meter exceeds that number, pressing the CASH OUT button will bring an attendant instead of the expected clatter of coins. The attendant will first check the machine and then hand pay you with paper currency. All jackpots of $1200 or more must be hand paid by an attendant to meet the IRS requirement of submitting a W-2G forms. Many smaller jackpots are also hand paid to keep from depleting the machine’s coin hopper. For instance, on a nickel machine, a win of over $50 amounts to more than 1000 coins and will certainly be paid by hand. Whenever you receive a hand pay money jackpot, don’t leave the machine without checking the credit meter for credits you may have previously accumulated. Press the CASH OUT button to get what it owes you.