NSW regulator to trial cashless gambling
Liquor and Gaming NSW will be trialing cashless payment methods for retail gambling in the Australian state.
The regulatory authority has recently published an announcement, inviting industry companies to participate in its latest trial, which will be focused on cashless gambling. The trial has been launched through the regulator’s latest reform platform, the Independent Panel of Gambling Reform, which was established in mid-summer to oversee various trials and develop recommendations for legislation to improve the state’s gambling market.
The cashless gambling trial is one of the first ones of its kind carried out by the panel, with its main objective being to ensure the feasibility of cashless gambling methods at the state’s gambling establishments. The goal of implementing cashless payment methods for land-based gambling businesses will be to help reduce problem gambling and money laundering in NSW. The trial will also be monitoring the effects of such payment methods on local businesses, their employees, and the infrastructure required to facilitate cashless gambling.
Liquor and Gaming NSW has outlined several requirements for companies that are looking to participate in the trial, with the main one being a local gambling license. Operators will also be required to have at least ten terminals on their properties to enter the trial, along with a clean track record of regulatory compliance. Development firms, on the other hand, will be required to have appropriate AML and CTF procedures to take part in the trial, along with robust risk assessment procedures and policies.