While the popularity of casino gaming is surging, a large portion of the American population begins to fill real-world casino floors. The ones who cannot access brick-and-mortar casinos are signing on online casinos to enjoy hours-long entertainment. However, traditional casinos are still the first choice of gamblers to play casino games.
Gone are the days when these casinos used coin-based slots. Today, gambling houses use modified ticket redemption kiosks. On winning the game, players get a ticket from the redemption kiosk that carries the winning amount value.
Gamblers can cash these tickets out from the redemption ticket machine. While this new way was convenient for players, they had to deal with one drawback. They can cash out the slot and video machine tickets only until a certain time. Otherwise, the tickets will expire.
Casino Tickets Expire if Not Cashed Out within the Expiration Period
In recent years, lost casino tickets have become one of the rising considerations for many casino players across the U.S. In the past five years, gamblers abandoned tickets worth of $35 million. According to the gaming regulations in Nevada, the cash-out vouchers usually expire within 180 days.
However, some casinos may have different rules for the expirations, depending on their policies. Despite the reason, it is important to remember that the state government of Nevada only receives a portion from expired tickets.
What Happens to the Lost Cash-out Tickets?
Due to such occurrences, the Assemblyman William Horne directed Assembly Bill 219 in 2011. According to the bill, 75% of the profit from lost tickets will be added in the general funds of the state, whereas the remaining 25% will stay with the respective gambling houses.
Since then, the Nevada Gaming Control Board gathers the lost vouchers, convert them into money and send it to the general fund of the state. At the end of every quarter of the year, the gambling houses report the amount of abandoned cash-out vouchers to the board and pay them 75% of the collected amount.
After the enactment of the law, many other states besides Nevada managed the lost cash-out well. According to a report, the casinos happened to collect $12 million worth of unclaimed tickets in the fiscal 2016 year, with sending off $8.78 million to the board.
However, the Las Vegas Strip revealed as the first state to collect most of the money from casino’s lost cash-out vouchers. Besides, the Downtown declared the next largest amount, with a $1 million worth of lost tickets. The next states were Washoe County, then Clark County, and Boulder Strip, with $900,000, $651,393, and $500,000 amount. Nevertheless, North Las Vegas collected around $193,640 from the lost tickets in 2016.
Why Players Do Not Redeem Cash-Out Vouchers
Well, many casino players may think that the tickets with small amount do not worth the effort or time to redeem. Other reasons could be that players damage or lose the cash-out vouchers and think they cannot retrieve the lost funds. However, it is not true; in many cases, gambling houses intend to help the players to get their lost vouchers back.
However, it is vital to bear in mind that casino tickets do not entail any details regarding the winner. Therefore, the casino can’t determine the lost vouchers’ winners. However, again, there is another way; many casinos offer rewards programs and loyalty cards that can help to connect the gamblers with their unclaimed vouchers.
Casinos may have to face great difficulty in determining the real winners or the ones who found the voucher. After considering all the nuisances of lost vouchers, casinos should improve their slot management system by integrating CASINOMONEY’s casino cage management solutions.