“ Every transaction, transfer and dollar moves through a sophisticated network of security protocols, giving both players and operators unprecedented peace of mind.”
“ Every transaction, transfer and dollar moves through a sophisticated network of security protocols, giving both players and operators unprecedented peace of mind.”
— Gary Larkin, President, Koin
ADDRESSING CASHLESS CHALLENGES
However, some researchers have raised concerns about cashless play removing the guardrails for consumers. For example, in the U. K. Gambling Commission’ s research on allowing cashless play in casinos, it warns operators of the need to add friction into the process, due to the risk of players spending more than they can afford.
Despite these concerns, Larkin believes cashless play offers new safeguards rather than simply removing the guardrails.“ Cashless also provides better tracking for responsible gaming initiatives, and can reduce the cost and risk associated with cash handling while supporting their commitment to a safe gaming environment for their guests.”
That seamless experience is complemented by a highly secure system. After all, digitalization raises new concerns. A cashless pilot scheme powered by Aristocrat in New South Wales, across 144 poker machines in the Australian state, attracted hackers, forcing the supplier to cancel the trial.
That doesn’ t concern Marker Trax President Charlie Skinner. Both Koin and Marker Trax’ s solutions have been engineered for security, complete transparency and responsible gaming compliance, he says. This is aided by its partnership with Fortune 1000 fintech giant Euronet, a global behemoth processing billions of transactions across 170 markets each year. According to Skinner, Koin and Marker Trax are therefore underpinned by an infrastructure“ as secure as the world’ s leading financial institutions.”
“ Picture a digital vault with multiple layers of protection, constant monitoring, and real-time verification systems,” Larkin adds.“ Every transaction, transfer and dollar moves through a sophisticated network of security protocols, giving both players and operators unprecedented peace of mind.
“ With Euronet’ s three decades of experience in securing financial transactions for major banks and retailers worldwide, our platform stands as a testament to what happens when gaming innovation meets proven financial security.”
HOW KOIN AND MARKER TRAX ARE BUILDING A CASHLESS FUTURE FOR CASINOS
The teams at Marker Trax and Koin paint a compelling picture of cashless gaming. Yet adoption continues to move slowly.
Considering tribal casinos are unlikely to hit a 60 percent adoption rate in 2025, as Cotton predicted back in 2022, there’ s more work to be done to accelerate that progress. Therefore, it’ s important to cultivate the early adopters effectively, to help cashless solutions really take hold and proliferate across tribal and commercial casinos.
To achieve this, it’ s a matter of close collaboration between the suppliers and the casinos.“ We work with the operator to motivate these early adopters to understand all the benefits and convenience of playing cashless,” Morton says.
It’ s a case of turning these early adopters into advocates for the product, influencing others to grow the cashless consumer base.
And it’ s proving effective, he adds.“ Both products have grown organically through player word of mouth,” Morton continues.“ Casino operators have also shown tremendous enthusiasm and support, helping to boost the popularity of both products.”
And crucially, Koin and Marker Trax have created a closed loop for cashless transactions. Now they are looking to increase the size of that ecosystem. That means it will expand digital payments beyond the gaming floor and throughout the resort, bringing hospitality, retail and entertainment into the loop.
“ The ability to provide a fully digital, property-wide financial ecosystem is a natural next step,” Larkin says. New gaming verticals further strengthen its hand.“ At the same time, Marker Trax will be expanding to table games and online sports wagering in the near future.”
Next, Marker Trax and Koin will look to better leverage artificial intelligence and data analytics to offer more personalized incentives to consumers, robust underwriting and real-time funding options for players.
This means that while cashless is proving a slower burn than many may have expected in the pandemic doldrums, Larkin is confident Marker Trax and Koin can spur future growth and adoption.
“ The combination of Marker Trax and Koin provides a scalable, adaptable framework that can grow along with the industry, ensuring we remain at the forefront of the cashless transformation in gaming,” he says.
24 Global Gaming Business APRIL 2025