It’s no secret – players prefer a cash redemption market. This has proven to be a challenge for the COAM industry, which historically offers merchandise-only redemption. The introduction of the Georgia COAM Gift Card Pilot Program is revolutionary to industry, to say the least. Players can now redeem their winnings for a gift card that can be used anywhere MasterCard is accepted.
What is the COAM Gift Card Pilot Program?
The COAM Gift Card Pilot Program is a statewide COAM gift card redemption program by the Georgia Lottery Corporation (GLC) whereby COAM Class B Location License Holders (LLHs) may provide players the option to receive their redemption amount on a Georgia Lottery branded COAM gift card. Players shall only receive the COAM redemption amount on gift cards distributed by InComm and designated for the COAM Gift Card Pilot Program. No other gift cards may be used for player redemption amounts for the COAM Gift Card Pilot Program.
How Do Georgia COAM Gift Cards Enhance Revenue?
Wondering how the Georgia COAM Gift Card can make a difference in your business? Here are some reasons you’ll want to consider bring this new offering to your business.
1. Incentives Players
With COAM gift cards, players are not limited to merchandise redemption. The data is clear – players spend more, and therefore generate more revenue, in cash markets. The Georgia COAM Gift Card is as good as cash, and players are flocking to locations that offer it.
2. Attracts New Customers
Offering COAM gift cards as a payment option can attract new customers to establishments hosting skill gaming machines. The convenience and novelty of using gift cards can capture the interest of potential players who may not have previously considered visiting the venue. This expansion of the customer base can lead to higher foot traffic and increased revenue across other product offerings. Participating locations can see an increase in gas sales, Georgia lottery ticket sales, tobacco sales, and alcohol sales.
3. Versatility and Flexibility
Previously, winnings could only be redeemed at the winning location. With the Georgia COAM gift cards, players now redeem their winnings anywhere MasterCard is accepted. The versatility of the gift cards enhances the overall gaming experience, thereby providing more choices and opportunities for players.
4. Promotes Repeat Visits
Additionally, COAM gift cards offer the opportunity for establishments to build customer loyalty. By providing a seamless and enjoyable gaming experience through gift cards, players are more likely to return to the same venue. Repeat visits result in sustained revenue and a loyal customer base that can contribute to long-term profitability.
5. Increased Spending
Furthermore, studies have shown that players using gift cards tend to spend more compared to those using cash. This is because gift cards provide a sense of virtual currency rather than physical money, which makes it easier for players to spend without the same psychological barriers as when using cash. The increased spending potential can lead to higher revenue generation for the establishment.
What are the next steps for those business locations wanting to take part in the COAM Gift Card Pilot Program?
Connect with a trusted Master License Holder (MLH) that has registered for participation in the COAM Gift Card Pilot Program. Class B MLHs will serve as a reseller of the COAM gift card provided by InComm. As a reseller, MLHs will manage the COAM Gift Card Pilot Program within their respective LLHs, including: distribution of point-of-sale (POS) equipment and gift card inventory to Class B LLHs, setting up Class B LLHs POS equipment, training Class B LLHs how to activate COAM gift cards, and ongoing support.
Stay Up to Date with the Latest GLC Updates
The Georgia Lottery Corporation continues to add updates about the Georgia COAM Gift Card Pilot Program on their website. See all updated documents HERE on their website. Additionally, you can also view all GA COAM Gift Card FAQs HERE.
Get Started Today
Connect with Inamax powered by Ultra today to find out how much more revenue you could be making with COAM. Give us a call at (770) 449-0400, or submit your information below and our customer success team will reach out to you.