This post has been written specifically for venues that are very early in their gaming floor journey - particularly venues in South Australia and Victoria where opportunities to digitise and streamline operations are starting to open up.
Have you noticed the rattle of a coin payout has become less and less frequent in pubs and clubs across Australia? We have TITO (Ticket In, Ticket Out) technology to thank for this pretty dramatic evolution on gaming floors. Aside from the change in background noise, TITO streamlines payments and cash management processes, and improves customer experience for patrons.
For many pubs and clubs, TITO is already an integral part of the gaming experience they offer patrons. But other venues may be yet to take the plunge, especially in Victoria, where legislation only changed in January 2019 to allow for cashless gaming technology.
The benefits of TITO are not just for large networks of venues though. Independent pubs and clubs are also taking advantage of digital technologies to maximise venue performance and stay ahead of the game in an increasingly competitive environment.
So how do you know it's time to level-up your venue with TITO technology? In this article, we will examine the symptoms of inefficiency and increased risk in cash management services that let you know it's time to install TITO on your gaming floor, as well as how you can maximise its potential with a cash redemption terminal (CRT). Given the difference in state regulations, we’ve also added a few helpful links at the end to get you up to speed on your local laws.
Does my venue need TITO?
Your gaming floor may be showing symptoms of inefficiency and increased risk in your payments and cash management services. Some are more obvious than others, which is why we've collected the top 4 signs it's time for TITO in your pub or club.
Think of these symptoms and signs as opportunities for your venue to increase productivity, lower risk, boost customer satisfaction and enhance your pub or hotel revenue.1. Staff are snowed under with manual cash management
Traditional gaming is cash-heavy and labour intensive. Staff are required to handle payouts manually, as well as deal with cash collected in EGMs across trade at the end of each day.
Add up the time spent on these activities, cross-reference it with your employee's wages, and you'll find you are investing significantly in outdated and inefficient cash management systems.
The bottom line: If your staff are spending inordinate amounts of time handling cash, it might be time for TITO.2. You're concerned about security
With large amounts of manual cash handling comes substantial security risks - from both inside a venue (i.e. staff stealing) and outside (i.e. the threat of armed robbery).
The bottom line: If your concerns about the security of cash in your venue are growing, it might be time for TITO.
3. Your gaming floor looks and feels outdated
Honing your venue's competitive edge means making the most of innovative digital gaming technology. With competition never far from your mind, ensuring your venue has the latest devices is a smart way to stay ahead of the game (pun intended!).
Take some time to explore nearby competitors and note what you see on their gaming floors; top-tech and exciting innovations just down the road may be a sign you need to make some upgrades to your venue's system.
The bottom line: If you're lagging when it comes to creating a digitally savvy and technologically advanced gaming floor, it might be time for TITO.4. Errors are harder to ignore
Manual cash handling is often error-prone because the reality is, humans aren't machines and make mistakes.
Whether it's errors in payouts or mistakes made counting cash while emptying EGMs at the end of trade, what can seem like a small oversight can quickly add up. Aside from the error itself, there is also the time it takes to investigate the issue and fix the mistake - costing you in time and wages.
The bottom line: If your venue is rife with errors, it might be time for TITO.
So, how does your venue stack up? If you've recognised any or all of the signs, then you're probably ready to jump on the TITO bandwagon and get your gaming floor upgraded quick smart. If you're still on the fence, however, here are some rapid-fire TITO benefits we know will impress:
- Patrons can quickly cash in, cash out or move machines without any staff assistance
- There is no need for buckets of coins to be transferred between devices
- Removes the hazard of coin loss or theft
- Less cash handling (lower security risks)
- Staff no longer need to attend at the EGM for a significant win
- Easy oversight thanks to improved reporting - investigate performance, detect patterns and remain compliant
Implementing TITO at your venue
Deciding to upgrade to TITO doesn't mean buying all new EGMs. In fact, upgrading older gaming machines with TITO functionality is very common. Most venues can update all their existing machines for less than the cost of two brand new EGMs!
A TITO upgrade is relatively simple:
- Each EGM requires a ticket printer - purchase from a gaming manufacturer.
- The printer is attached to the EGM - this requires some metalwork.
- A vendor like Banktech will then install an interface board into the machine.
- Finally, a Central Control Unit (CCU) is added.
And voila! Your venue is now TITO-ready and you can start reaping the benefits of improved payments and cash management almost immediately.
Add a CRT to maximise potential
If you want to take full advantage of the benefits of TITO, then it’s worth implementing it alongside a CRT. This will allow your patrons to redeem their TITO gaming tickets securely and privately at a self-service terminal, without the need for staff assistance.
As well as decreasing the risks associated with cash handling, installing a CRT is likely to improve your patrons’ gaming experience and reduce overhead costs incurred in tedious manual processes, not to mention a host of other advantages depending on the CRT machine.
Quick links to state gaming regulations
TITO is just one way successful pubs and clubs in Australia are keeping up-to-date and ahead of the competition. Find out what else some of Australia’s most popular venues are doing in our ebook, Pubs and Clubs of the Future.