My wife and I are appalled by casinos that have stopped giving coins at their TITO redemption machines. As an act of rebellion, we have made it our mission to always redeem our "sub-dollar" TITOs at the cashiers cage, even if they're only for a few cents. If everyone (or even a substantial percentage) of gamblers followed our lead, would it pressure the casinos to start putting coins back in the cash-out kiosks?
Anything's possible, but we'd bet -- heavily -- against the casinos changing their coin-only TITO policy.
From a purely practical standpoint, no matter how many players cashed in their fraction-of-a-dollar slot tickets, it doesn't inconvenience the casino one whit. Its cashiers are standing at the cage windows 24/7 anyway, ready to exchange 10 yellow banana chips for $10,000 in hundred-dollar bills or a TITO for two dimes, a nickel, and a penny.
It's not really any sweat off the cashiers' back either. They're getting paid the same regardless of the types of transactions they handle. Of course, cashing in a TITO for nine cents might cause them to smirk or frown for a millisecond, since they know there won't be a tip involved, but it's all in day's work. Besides, maybe a gambler throws them a couple of pennies.
Who's most inconvenienced. You! Say everyone followed your lead. If you're the 20th in a line at the cage, with 19 people ahead of you cashing out a sum total of $8.17, you yourself might question the wisdom of putting in 15 minutes to teach the casino a lesson for 23 cents.
Meanwhile, the amount of money collected statewide from expired tickets in fiscal-year 2023, the last figure we saw, was $22 million. The state collects 75% of the value of uncashed tickets for use in the state's General Fund; the other 25% goes to the casinos' bottom lines. The revenue sharing is administered by the Gaming Control Board. The casinos file a form that states the amount of unclaimed slot tickets and write checks for 75% of it.
Thus, the casinos kept approximately $5.5 million in unclaimed tickets in FY 2023. We strongly suspect that a not-insignificant proportion of the total was from tickets worth less than $1. So the casinos also have a financial interest in maintaining the TITO status quo.
Then there's the issue of keeping the redemption kiosks stocked with coins. Eliminating that necessity certainly reduces labor, wear and tear on the machines, maintaining an inventory of loose change, and accounting procedures.
Finally, there's the psychological aspect. In the long tradition of the casinos vacuuming every last nickel out of every last sucker, this is the literal manifestation of it. It's yet another way (and we certainly don't have to list all the others, with which LVAers are well acquainted) that the suckers are being trained, in effect, to keep shrugging off the continuing contumelies of their choice of "entertainment."
So no, we don't expect coins to reappear at TITO-redemption kiosks anytime soon. Do any of you?
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asaidi
Oct-28-2024
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O2bnVegas
Oct-28-2024
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Kevin Rough
Oct-28-2024
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kenkot
Oct-28-2024
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Donzack
Oct-28-2024
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Joseph Merritt
Oct-28-2024
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IPA Noah
Oct-28-2024
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Cal
Oct-28-2024
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[email protected]
Oct-28-2024
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grouch
Oct-28-2024
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Randall Ward
Oct-28-2024
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Rob Reid
Oct-28-2024
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SCOTT
Oct-28-2024
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Kevin Lewis
Oct-28-2024
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thebeachbum
Oct-28-2024
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Hoppy
Oct-28-2024
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John
Oct-28-2024
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O2bnVegas
Oct-28-2024
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DeltaEagle
Oct-28-2024
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Scott
Oct-28-2024
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David Sabo
Oct-28-2024
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sunny78
Oct-28-2024
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AL
Oct-28-2024
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djm
Oct-28-2024
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Brent
Oct-28-2024
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Carey Rohrig
Oct-28-2024
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Frank Nicosia
Oct-28-2024
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