Gialmere
Gialmere
Joined: Nov 26, 2018
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November 20th, 2021 at 2:04:06 PM permalink


The Wizard had an interesting rant on the last LiveStream, pointing out that many casino TITO machines no longer give out coins. Instead, you get your paper money and then another TITO voucher for the change. You then have to take this new change voucher to the cashier's cage to receive your coin. The casino explanation is that this is due to the nation's coin shortage.

My knee-jerk thought was this sounded like a casino scam of convenience. After all, who's going to stand in line to collect a measly 16 cents? (It's also kind of embarrassing cashing in so small an amount.) Thus the casino gets to "keep the change" and, at a busy location, this could add up to quite a substantial amount on the quarterly earnings, all of it while conveniently getting to blame someone else. (Sorry friends. The government has tied our hands.)

My next thought, however, was maybe this was legit. Maybe the casinos are simply trying to protect themselves. If there is indeed a coin shortage (many, including the Wizard, are skeptical), then a casino would make a good target for other merchants in need of change. A liquor store owner, for example, could take 20 one-dollar bills to the casino, insert them one at a time into a penny slot, play for 1 cent and immediately cash out. Then take the 20 vouchers to the TITO machine and bam, he has plenty of change for his cash drawer until the bank opens. How many small merchants are near a casino?

I know there are some casino employees who post here so I'm hoping some of you might offer your thoughts and observations.
Last edited by: Gialmere on Nov 20, 2021
Have you tried 22 tonight? I said 22.
ChumpChange
ChumpChange
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November 20th, 2021 at 2:15:36 PM permalink
I've been thinking about whether to stand in line to cash out. I could just take the TITO home and reuse it on my next visit. If I have a few <$1 TITOs I could put them in the slot machine and they might add up to a dollar. I could use a 2 cent TITO to separate my sessions of cash in my wallet. As far as the coin shortage goes, what if there's a cash shortage and the ATM's run out of $20's? I should cash out my TITOs at $100 increments.
AlanMendelson
AlanMendelson
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November 20th, 2021 at 2:20:20 PM permalink
Today I took the full payout ticket of $89.75 to the cage and got an additional $3 of quarters for the laundry machines.

I played 25-cent poker.

If I played $25 VP I wouldn't have the problem of extra coins, nor the problem of doing my own laundry.
Wizard
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Wizard
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November 20th, 2021 at 2:24:07 PM permalink
While I was at it, here is my Facebook post from Friday.



It engendered 14 good replies. Here is a link, but it may not work if you're not a FB member.

I am still skeptical of this coin shortage. When I offered to bring in about $1,000 in change to my local bank, where I've done business for at least 25 years, they said I would have to wrap them in rolls and put my name, address, and account number on each roll. If they were truly short on change, they would have been happy to run them through their coin counter, which they do have.

I can't prove it, but I think the casinos do this because most people will not fuss with it to cash out a TITO for under $1 and throw them away. If this wasn't their motive, I think they should make it convenient to donate the TITOs to charity.
It's not whether you win or lose; it's whether or not you had a good bet.
ChumpChange
ChumpChange
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November 20th, 2021 at 2:28:04 PM permalink
Again, I would stock up on a years supply of quarters for laundry machines. Check in with the banks every few months and restock up if you can. The trend towards cashless is gonna leave these laundry machines high and dry.
Dieter
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Dieter
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November 20th, 2021 at 2:38:54 PM permalink
Thoughts:

Technology is out there for laundry machines to accept credit, debit, and loyalty cards (points). ($2.50-$5/cycle is typical pricing.)

Several places that formerly charged commission to convert coins to cash now do it commission free, effectively paying more.

Unredeemed vouchers are often heavily taxed when the casino keeps the proceeds (varies by jurisdiction).
May the cards fall in your favor.
ThatDonGuy
ThatDonGuy
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November 20th, 2021 at 2:59:33 PM permalink
I had a cashout voucher at Cache Creek for an amount that wasn't in full dollars, and pretty much every redemption machine had "THIS MACHINE DOES NOT GIVE OUT COINS" on it - instead, the main option was to donate the change to one or more local charities, the same way that some stores ask if I want to "round up" my payment with the money going to some charity.
darkoz
darkoz
Joined: Dec 22, 2009
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Thanks for this post from:
mcallister3200
November 20th, 2021 at 3:20:24 PM permalink
The best hybrid solution I have seen so far is one casino with two redemption machines at their main entrance that dispenses coins.

The rest have signs that warn you they don't but give an option to donate the change to charity on the acceptance screen.

Also the change vouchers are playable, so if you have seventy five cents you can try to win a quarter at a slot.

Some casinos just give an unplayable receipt and the only way to redeem is at the cashier. That's really rude imo.
For Whom the bus tolls; The bus tolls for thee
billryan
billryan
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November 20th, 2021 at 3:29:17 PM permalink
2021 is shaping up as a good year for coin collectors. On a side note, I found a Mercury Dime on the street today. It looked like it had been in the wild for a very long time. I thought it was a penny but it was too small.
The difference between fiction and reality is that fiction is supposed to make sense.
mcallister3200
mcallister3200
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November 20th, 2021 at 3:29:24 PM permalink
The other excuse is that itís expensive/ PITA to stock coins. Basically, and casinos are far from the only businesses with this strategy in 20/21, rather than trying to make their patrons satisfied theyíre instead trying to see just how far they can push things and what they can get away with before customers revolt. And expose their cashiers to the maximum amount of possible COVID in the process cuz cashiers lives donít matter, to them in comparison to stocking coins anyways.

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