Liquor & Gaming New South Wales announced that it will be responsible for overseeing the upcoming cashless gaming technology trial in the Australian state and invited industry bodies to participate. Hosted by The Independent Panel on Gaming Reform, the trial will explore the potential of cashless systems to change gambling in NSW.
According to the announcement the panel has now issued invitations for venues and technology providers to apply to participate in the trial.
Applicants should meet certain standards and must be committed to protecting the market from harm and fraud, the regulator explained.
Applicants should meet the minimum requirements set by the Independent Panel to take part in the cashless gaming trial, including harm minimization protections, anti-money laundering protections, and data security and privacy protections, and specific requirements for venues.
Liquor & Gaming NSW statement
Companies have until October 13 to apply for the trial.
The Trial Will Help NSW See If Cashless Gaming Is Worth Investing In
Cashless gaming has been one of the hot topics of the gambling industry in the Australian state for several months now. Many believe that the statewide implementation of the technology will help to prevent gambling-related fraud while protecting at-risk consumers from harm.
However, certain parties, including local industry groups, remain skeptical of the technology and its potential, with many arguing that it may prove to be nothing more than an expensive risk.
In any case, Liquor & Gaming NSW wants to give cashless gaming a chance and see if the technology can usher in a new era of compliance. The trials will help the authority assess how the solutions operate in practice.
An independent researcher will evaluate the effectiveness of cashless gaming by leveraging customized research methodologies.
Liquor & Gaming NSW hopes that the research will lead to a change in player behaviors, mitigating harm and preventing illicit activities.
Cashless gaming trial runs will run for three or more months, allowing the regulator and independent researcher to gather enough data.
A few days ago, the NSW government allocated $100 million to combat gambling harm as the state seeks to reduce the problem gambling rates. The investment came from the redirection of fines imposed on Star Casino.
The investment is notably a part of the Minns Labor Government Budget and reflects a dedication to preventing gambling harm and gambling-related crime.