20240021051. SYSTEM AND METHOD FOR REDEEMING CASHLESS GAMING TICKETS TO BANK ACCOUNTS VIA MULTI-FUNCTION ATM simplified abstract (Everi Payments Inc.)

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SYSTEM AND METHOD FOR REDEEMING CASHLESS GAMING TICKETS TO BANK ACCOUNTS VIA MULTI-FUNCTION ATM

Organization Name

Everi Payments Inc.

Inventor(s)

Victor Newsom of Las Vegas NV (US)

Richard Beer of Prior Lake MN (US)

Craig Potts of Henderson NV (US)

SYSTEM AND METHOD FOR REDEEMING CASHLESS GAMING TICKETS TO BANK ACCOUNTS VIA MULTI-FUNCTION ATM - A simplified explanation of the abstract

This abstract first appeared for US patent application 20240021051 titled 'SYSTEM AND METHOD FOR REDEEMING CASHLESS GAMING TICKETS TO BANK ACCOUNTS VIA MULTI-FUNCTION ATM

Simplified Explanation

The patent application describes a system and method for redeeming cashless gaming tickets with monetary value at a casino. Here is a simplified explanation of the abstract:

  • The system allows customers to redeem cashless gaming tickets at a multi-function ATM.
  • The ATM electronically communicates with a ticket redemption system to validate the ticket.
  • The customer can transfer the monetary value of the ticket to an account associated with a bank card.
  • The ATM sends a transfer request to a financial server, which then transmits a request to a financial network to credit the monetary value (minus a transaction fee) to the customer's bank card account.

Potential Applications of this Technology:

  • Casinos and gaming establishments can use this system to provide a convenient and efficient way for customers to redeem their cashless gaming tickets.
  • The system can be integrated into existing ATM networks, making it easier for customers to access their funds.

Problems Solved by this Technology:

  • This technology eliminates the need for customers to manually cash in their gaming tickets at a cashier's booth, reducing wait times and improving customer experience.
  • It provides a secure and automated process for validating and transferring the monetary value of the tickets.

Benefits of this Technology:

  • Customers can easily redeem their cashless gaming tickets and transfer the funds to their bank card accounts.
  • The system reduces the need for manual cash handling, improving efficiency and reducing the risk of errors.
  • It provides a seamless integration between gaming machines, ATMs, ticket redemption systems, and financial networks.


Original Abstract Submitted

a system and method are provided for redeeming cashless gaming tickets having associated monetary value, such as issued at a cash-out from a gaming machine in a casino. when the customer wishes to redeem the ticket, the ticket is introduced to a multi-function atm. the atm then electronically communicates with a ticket redemption system to validate the ticket. the customer may transfer the monetary value associated with the ticket to an account associated with a presented bank card, wherein the atm transmits a request for transfer to a financial server which transmits a request to a financial network for crediting of the monetary value (such as less a transaction fee) to the customer's bank card account.

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