The gaming scene in NSW is set for a big change. A team called The Independent Panel on Gaming Reform is starting trials for cashless gaming. Various big names in gaming, like Aristocrat, Utopia, IGT, and Light & Wonder, are taking part. Now, the panel has opened the door for more people to join this trial. But what does this mean for the future of gaming in NSW?
What is Cashless Gaming?
Cashless gaming, as the name suggests, is a form of gambling where players use electronic devices – like mobile smartphones and smart cards – to access games and pay for bets. Instead of using physical money, players will have digital wallets that can be funded through various ways of payments. This allows for faster and more convenient transactions, as well as reducing the risk of theft and fraud.
Any venue or technology provider can apply for the trial. But, there are requirements to meet. The panel has set some minimum criteria. Participants must show an understanding of harm minimisation protections. This means they need to help protect people from the negatives of gaming. They also need to have anti-money laundering protections in place. Lastly, they must assure the security and privacy of data.
How will the Trials Work?
The applications for the trial will close on 13 October 2023. The trial has a purpose – to inform a future framework for approving cashless gaming in NSW. The way the trial will work is simple. The Liquor & Gaming NSW, a regulatory body, will monitor how cashless gaming solutions work in real-world scenarios. This will take place in clubs and hotels.
An independent researcher will be keeping a close eye on everything. He will note the impact of these technologies. The researcher has specific methodologies to follow. Each technology will have its custom methodology.
The research will look into how players’ attitudes and behaviors change with the use of technology. It will measure the length of gaming sessions and their frequency. It will also note the level of harm players experience. The research will aim to find ways to reduce this harm.