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Funds transfer system and method of use in gaming environment

Funds transfer system and method of use in gaming environment description/claims

This application is a continuation-in-part of application Ser. No. 11/824,337 filed Jun. 28, 2007.

The embodiments of the present invention relate to an electronic transfer of funds system implemented in a gaming environment. With such a system and method, casino customers are able to purchase credits from a casino cashier or kiosk and then proceed to play the purchased credits at electronic gaming machines (e.g., slot machines) or live table games within the casino or other commonly owned casinos.

In today's casino market the most popular means of transferring funds between electronic gaming machines is via the use of paper tickets. Such tickets have turned gaming into a generally cashless endeavor. In one exemplary situation, a player approaches an electronic gaming machine (or device), inserts cash and proceeds to play the game. When the player is ready to leave the machine, the player simply presses the ‘cash out’ button and the machine prints a ticket for the remaining credit on the game. The ticket may then be cashed in at a cashier or kiosk, or inserted into another machine, read and redeemed as machine credits.

The current ticket system suffers from several problems including 1) the requirement for a significant background accounting system to authenticate the transactions and maintain security; and 2) the system is expensive to use. Casinos in Nevada have disclosed that the cost of such a system runs as much as $3.00 per ticket. In addition, the ticket printers (one per machine) cost about $600.00 each and frequently break down.

Thus, there is a need for a cost-effective system that eliminates tickets and ticket printers in the gaming environment.

Accordingly, a first embodiment of the present invention is a gaming system comprising: a plurality of electronic gaming machines; a memory device including a microchip therein for storing a value amount; a memory device interface integrated into each of the gaming machines wherein said interface is positioned to contact the memory device upon engagement with the memory device; and means for crediting said gaming machines an amount equivalent to a memory device value amount in response to the memory device being engaged with said memory device interface, and crediting the memory device with a credit amount on said gaming machine in response to a game session being terminated by a player.

A first method of the present invention comprises: providing a plurality of electronic gaming machines in communication with a central computer system wherein each gaming machine has a memory device interface integrated therein such that said memory device interface is positioned to receive and engage a memory device having a microchip; crediting said gaming machines an amount equivalent to a memory device value amount in response to the memory device being engaged with said memory device interface; and crediting the memory device with a credit amount on said gaming machine in response to a player terminating a game session.

An alternative system embodiment of the present invention comprises: configuring a memory device for use with a gaming machine and memory device readers located in retail outlets such that said memory device: stores and tracks multiple funds accounts wherein at least a first account is dedicated to funds for gaming activities and a second account is dedicated to funds for retail activities; automatically selects one of said multiple accounts from which to transfer funds based on the activity for which the memory device is being used; and transfers funds from the selected account to a gaming machine or a retail outlet based on the activity for which the memory device is being used.

An alternative method embodiment of configuring an electronic funds transfer system comprises: configuring a memory device for use with a gaming machine and memory device readers located in retail outlets such that a microchip integrated in said memory device stores and tracks multiple funds accounts wherein at least a first account is dedicated to funds for gaming activities and a second account is dedicated to funds for retail activities; automatically selecting one of said multiple accounts from which to transfer funds based on the activity for which the memory device is being used; and transferring funds from the selected account to a gaming machine or a retail outlet based on the activity for which the memory device is being used.

The system and method of use described herein allows a player to electronically transfer funds to and from a gaming machine or live table game via a small memory device (e.g., iButton®). A corresponding memory device interface (i.e., reader) integrated on the machine or proximate the live table game location facilitates the electronic transfer of funds.

Other variations, embodiments and features of the present invention will become evident from the following detailed description, drawings and claims.

FIG. 1 illustrates a block diagram of one system embodiment of the present invention;

FIGS. 2a and 2b illustrate an exemplary memory device in a closed and open position, respectively, for facilitating the embodiments of the present invention;

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