Casino Chip Redemption
Gone are the days of the old-fashioned one-armed bandits. Coinless slot machines are now the name of the game at casinos everywhere, and collecting a jackpot is as simple as cashing out a voucher. But while the system is convenient, not all players find it satisfying. Some longtime gamblers say part of the thrill of playing the slots was the jingle of the coins as they spilled out into the bin. Plus, it's easy to stick that voucher in the back of your pocket and forget that it's there. If you do so, be sure to go back as soon as possible and cash in. Some vouchers have expiration dates, and some casinos won't let you redeem by mail.
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No More Coins
Casinos started to change to coinless slots around the early 2000s, due in large part to the advent of multi-denomination machines. Coinless slots mean decreased labor costs, as casinos no longer have to hire slot managers to clean out machines, make a change, and escort players to counting rooms. Players no longer have to lug buckets of dirty coins across the casino floor and wait in line for a cashier to count them. Instead, they insert their voucher into a redemption kiosk and receive their winnings. Players also don’t have to worry about a machine running out of coins while they are cashing out or wait for attendants to fill the hoppers, which can take a long time to do when a casino is crowded.
The Voucher System at Work
Whether a casino calls their coinless slots EZ-Pay or Ticket In Ticket Out (TITO), they all work the same. Instead of feeding coins into the machine, you feed any denomination of bill into the bill receptor and the machine registers the appropriate amount of credits. You then begin play. If you win, you hit a button and receive a voucher printed with the amount of your winnings. You then redeem this at the cashier's cage or redemption machine.
Drawbacks
When coinless slots were first introduced onto the casino floor, players complained mainly about the difficulty of moving from machine to machine. If they wanted to switch machines they had to take their voucher over to the cashier and convert it back to money to put into the next slot. Fortunately, manufacturers quickly addressed this problem. Today's machines now accept vouchers from other machines as payment. If you are in a hurry when you cash out, you can even just put the voucher in your wallet or purse and use it when you play later.
This, however, can cause a problem if you forget to cash it in before you head for home, especially if you are visiting a casino in another state. Most vouchers have expiration dates—60 or 90 days are most common—which can be a problem if you're playing in a casino while on vacation. While some casinos will allow you to mail in the voucher and receive a check in return, others consider the voucher null and void unless you show up in person.
Because the policy for redeeming slot vouchers varies so much, not just from state to state but also casino to casino within the same state or even city, always check with casino management about their redemption policy.
Before You Go
Before you head to your favorite local casino or Vegas hot spot, make sure to check its policy. Even if you should find yourself with a voucher from a casino with a “no-mail policy,” all may not be lost. We advise that you call and ask for a casino host and explain the problem. These hosts want to do everything possible to retain their good players and they may be able to work out a solution for you.
To avoid forgetting the vouchers, make it a point to redeem them as soon as you finish playing. If you want to save them to play later, then make a habit of redeeming your vouchers at the end of the day, before heading to your room. When you get ready to check out of your hotel, make sure take a look in your wallet for any vouchers you may have forgotten.
CashIO is our product family of self-service redemption kiosks for casinos and route gaming.
Overview
The CashIO casino terminal is available in four editions:
Details
Casino Chip Redemption Centers
Increase of revenue and simultaneous cost reduction
Longwaiting time at cashiers and downtimes at slot machines reduce revenue and customer satisfaction. CashIO optimizes pay in and pay out processes and therefore reduces cost. Better service to the customers increases customer satisfaction and playing time.
Redemption and charging of tickets (TITO)
CashIO validates the tickets with the casino online system and pays the respective amount to the customer. The customer does not have to see a cashier and can do the entire payout by himself.
Redemption and charging of player cards
CashIO can redeem player cards to customers. The customer can initially charge and recharge the player card at the CashIO as well as decide to receive a full or partial payout. CashIO can also manage deposits for player cards.
Exact payout of credit
CashIO features up to 4 coin hopper and 6 banknote cassettes (depending on the edition) and guarantees exact payout, down to the last cent. This reduces waiting time for the machine to be refilled.
Handling of magnet, chip and RFID cards
CashIO Platinum and Titanium can dispense and accept magnet, chip, as well as RFID cards. Casino employees and service personnel can also choose between magnet, chip or RFID cards to use as authorization cards.
Bill breaking
Casino Chip Redemption Program
CashIO can also be used to break down notes into smaller denominations. The parameters for this can be individually set by the casino staff.
Jackpot payouts
CashIO greatly simplifies the jackpot payout in the casino. The casino staff can get a list of all valid jackpot payouts directly from the CashIO terminal and then pay the customer. There is no need to go to a cashier, therefore this quicker method helps to further increase customer satisfaction.
Optional ATM functionality (only in the USA)
CashIO Platinum and Titanium offers all hardware components to be used as an ATM. ATM-only-machines are no longer necessary on the casino floor, therefore saving both space and customer waiting time.
Secure storage of cash
All banknotes are secured by a safe in the CashIO, which is fitted with a mechanical lock. CashIO Platinum and Titanium can be fitted with an optional electronic lock.
Documentation of all transactions
The CashIO terminal documents all transactions, e.g. cash paid out, cash paid in, cash refills, and also records events such as door unlocked, staff login etc. This data can be accessed at any point in the form of report summaries.