Cashless Wagering System Law and Legal Definition

Cashless wagering system is a method of wagering and accounting in which the validity and value of a wagering instrument or wagering credits are determined, monitored, and retained by a computer that is operated and maintained by a licensee. Under this system a record is maintained of each transaction involving the wagering instrument or wagering credits, exclusive of the game or gaming device on which wagers are being made. The term also includes computerized systems which facilitate electronic transfers of money directly to or from a game or gaming device.