How Do Casinos Keep Their Money Safe?

Keeping money safe is the one of the most important aspects of running a casino. The reason why it is very important is because of all of the large amount of transactions that take place there. One must wonder how are casinos able to make sure that all of the money is being kept safe.

Why Are Casinos Very Secure?

Security is a very key part in casino management. It is very important for casinos to protect their property, money, employees, and its players. The chances of a crime happening at a casino is higher than at other retail places because of the amount of money that is passed through the casino and it being on site every day at casinos.

When casinos first existed, the security at a casino were only made up of a few security guards who were in position to deal with any type of trouble. Also, there were catwalks positioned above the casino floor that made them be able to walk the length and width of the casino at a ceiling level to look at the proceedings. In today’s era, casinos have much better technology. The technology that is available today has made their security much better. Now technology has made it easier for crime to be dealt with at casinos.

Security Systems That Are Put in Place at Casinos

Casinos today have a physical team that has trained security professionals along with a state-of-the-arc closed-circuit television system (CCTV). The physical team is able to deal with any type of issue that occurs on the casino floor and they are able to react quickly. The CCTV keeps an eye out on attempts being made to break the casino rules. A lot of casinos that have a lot of money are likely to have at least 2, 000 cameras that are connected to more than 50 monitors. Each of them are always being viewed and scrutinized by a different number of individuals. The advancement of technology for casino securities that have been introduced all around the world. Ranges in security systems at casinos ranges from low-key ID varication scans to make sure no one underage enters their casino to an elaborate facial recognition software that can identify any suspicious individual that has entered.

There are some casinos that have an exclusion list. Casinos are at a high risk both legally and financially if they let in a player who should be on their exclusion list. Exclusion lists are often updated. If a casino does not keep their list updated, they can end up being fined or even have their license revoked.

A security technique that is used by casinos that is bizzare is a much more passive type. That technique is watching and waiting. Having an armed security can be terrifying. Many assume that a response from a casino would be a quick security reaction. However, a lot of casinos like to hold back on using their security as much as possible. They often at times prefer to use digital technology to get coverage of the incident. After they get the coverage, then they let the accomplices escape. The reason is because casinos know that confrontations can end up violently and it is in no one’s best interest to use violence.

The Amount of Money Casinos Keep On Site

The amount of money casinos keep on site all depends on the laws and guidelines of the jurisdiction within the casino is operating in. Any casino in Nevada has to have enough cash on site to cover for every chip that is being used on the casino floor. The figure can also depend on the week and the year. Las Vegas casinos like the Bellagio are likely to hold up to $70 million on an average week day. On weekends, they often hold up to $100 million. When there is a big occasion going on like a sports fight or March Madness the number increases to around $150 million. For smaller casinos, the figure is not quite as high. However, even smaller casinos have at least $20 million.

Where Do Casinos Store Their Money?

Money at casinos are held in two forms. Those two forms are chips and cash. The chips are always in play on the casino floor. Those chips are always tracked. This makes sure that any chip that is used for an attempted robbery gets flagged up if used at a casino or at any other casino in the future. The cash at casinos are stored in a lot of safes in vaults at the casino. The movie Ocean’s Eleven gives watchers an idea of the security system that is put in place to protect their funds from any type of theft.