Tokens

Tokens - The Present

In many Midwestern riverboat venues, such as in Illinois, Indiana, Iowa, and Missouri, the slot machines only accept casino tokens, not U.S. coins. This began in Iowa where the first gambling statute included a $200 per player loss limit. To enforce the law, a system was set up whereby each patron could purchase up to $200 in vouchers when entering a casino. The vouchers were then used to purchase gaming chips or slot machine tokens. The slot machines accepted only the casino tokens; if they accepted U.S. coins, gamblers could easily get around the law by carrying regular coins into the casino.

The loss limit law was ultimately repealed, but the tokens are still in use because the casinos like them. They know that most customers will not leave with a few leftover tokens in their pockets. Some will cash them in, but many will just drop them in a machine on their way out. Another reason the casinos like tokens is that they have fewer assets tied up in the coin hoppers of hundreds of machines. A quarter is worth twenty-five cents, but the tokens cost only pennies apiece to have minted. Consequently the token system improves the cash flow and other casino accounting numbers.

Tokens - The Future

To avoid the handling problems of six different coin denominations, some casinos are testing a new token system devised by some inventive Australians. Under this system, now commonly used in Australia, all machines, regardless of denomination, will accept only special dollar-value tokens. If you play a quarter machine, for example, the token will register as four credits. Now the coin counter in the change booth only has to handle the one denomination. Whether or not this will catch on in the United States is still an open question.

Visit the most recommended online casinos where you can play your favourite slots.