The pandemic brought rapid changes in the casino industry, but one of the most visible to players was the reduced reliance on coins. Starting with a coin shortage due to reduced circulation of coins and many stayed home, casinos didn’t race to bring back coin redemption when things rebounded. And now, the discontinuation of penny production introduces fresh questions.
More and more casinos don’t give the cents on your TITO, but give players a TITO back with the cents. If not used, where does it go? Back to the house? If so, it seems to be another way for them to grow the bottom line. Think of how many guests in a year and how much it all adds up?
Donald H.
You raise a couple of questions and points. But let’s start with the where does the money go, and the answer is: It depends. Like many things related to casinos, some of these questions are addressed by regulation.
Do Casinos Profit Off Expired Slot Tickets?
In the case of Nevada, 75% of the uncashed tickets when they expire are effectively taxed by the state. Casinos get to keep the other 25%. As casino taxes go, that’s incredibly high, which makes it already not the most exciting opportunity for casinos, at least there, to make more money.
But how much is really left behind? Well, we previously shared information that was reported about how much was being left behind per year. In Nevada, in 2023 and 2024, roughly $25 million was left behind in each of those two years.
That sounds like a lot, but then remember Nevada has hundreds of casinos and many more locations, like gas stations and supermarkets, that have a handful of machines. Take the 75% out that the state keeps and that’s more like $6 million left behind for all those businesses – it’s not a needle-moving exercise for an operator’s profits.
The change to eliminate coins from ticket redemption machines wasn’t because keeping the tickets would boost profits, even if there’s some small benefit there – it was to save on the labor costs of having to cart coins into the TITO machines and restocking them – they’re heavy, expensive, can cause mechanical problems… all of that has common sense costs to the casino, and skipping that can save money.
Ways to Handle Small Tickets Left Over
There are a few ways to unlock the value of those small tickets, if you’re concerned about giving the casino that extra little boost out of principle.
We’ve seen in some cases casinos choosing to stock certain redemption machines with coins. MGM casinos often have them placed by the cashier, where it’s a simpler procedure to bring coins out from the adjacent cashier area vs. carting them across the casino to restock the machines by the exits.
Players can bring TITOs to the cashier to cash them, although we certainly understand that may simply be a skipped step at times when the cashier line is too long to worry about 32 cents.
We also love the pay it forward approach – players will often hand a left over coin ticket to another player and wish them luck. At least in that scenario, someone else has a chance to turn it into something that can get redeemed.
Finally, the Wager Saver/Lucky Chance Spin is a way to ensure you get to bet every last cent without leaving anything behind for the casino. Your chances of winning a spin will depend on how much you have vs. the bet level you attempt, and then you still need to win on the spin if awarded, but it’s better than letting a ticket expire.
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Several of the tribal casinos here in WA state, when using a kiosk to cash out your ticket, will ask if you’d like to donate the change to charity. Then a charity or two will be listed to pick from.
This is a great reminder Deb! Players can at many casinos avoid the coin ticket from a machine if they opt to donate it to charity, at the casinos that offer it!
We have this option too in Wisconsin and Michigan…always surprised when the person in front of me refuses the choice and get a ticket for 3 cents 😞