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IGT (20240331495). REPAYMENT OF LINE OF CREDIT FUNDS FROM A GAMING DEVICE simplified abstract

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REPAYMENT OF LINE OF CREDIT FUNDS FROM A GAMING DEVICE

Organization Name

IGT

Inventor(s)

Jeffery Shepherd of Reno NV (US)

Kevin Higgins of Reno NV (US)

REPAYMENT OF LINE OF CREDIT FUNDS FROM A GAMING DEVICE - A simplified explanation of the abstract

This abstract first appeared for US patent application 20240331495 titled 'REPAYMENT OF LINE OF CREDIT FUNDS FROM A GAMING DEVICE

The abstract of this patent application describes a system that responds to a cashout event at a gaming device by transferring funds to a gaming establishment account and/or credit system.

  • Simplified Explanation:

- System responds to cashout event at gaming device - Transfers funds to gaming establishment account or credit system

  • Key Features and Innovation:

- Automated response to cashout events - Seamless transfer of funds to gaming establishment accounts - Enhances security and efficiency of cashout processes

  • Potential Applications:

- Casinos and gaming establishments - Online gaming platforms - Entertainment venues with gaming devices

  • Problems Solved:

- Streamlines cashout procedures - Reduces manual intervention - Improves financial management for gaming establishments

  • Benefits:

- Faster and more secure fund transfers - Enhanced customer experience - Increased operational efficiency for gaming establishments

  • Commercial Applications:

- "Automated Fund Transfer System for Gaming Establishments" - Potential for licensing to casinos and gaming companies - Market implications in the gaming industry

  • Prior Art:

- Research existing systems for fund transfers in gaming environments - Explore technologies related to cashout processes in casinos

  • Frequently Updated Research:

- Stay informed on advancements in payment processing technologies - Monitor trends in gaming industry regulations

Questions about the technology: 1. How does this system improve the overall gaming experience for customers? - The system enhances the efficiency of cashout processes, reducing wait times and ensuring a seamless transaction experience for players.

2. What security measures are in place to protect the funds being transferred? - The system likely employs encryption protocols and authentication mechanisms to safeguard the transfer of funds between the gaming device and establishment accounts.


Original Abstract Submitted

a system that, responsive to an occurrence of a cashout event at a gaming device, transfers funds from the gaming device to a gaming establishment account and/or to a gaming establishment credit system.

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