Here’s How Cosmopolitan’s New High Limit Fastpay System Works
The Cosmopolitan Las Vegas recently opened a new High Limit Slot Lounge.
The high limit area is spacious and welcoming, and the free cookies are spectacular. No, really, there are cookies.
When the High Limit Slot Lounge opened, Cosmopolitan touted a new system for “processing jackpots right at the machine.” As most slot players know, winning a jackpot of more than $1,200 in a Las Vegas casino means filling out tax forms so The Man can get his cut of your hard-won windfall.
It’s annoying, but it could be worse. The IRS has suggested $600 be the cut-off. Don’t get us started.
Fastpay is available at Cosmopolitan exclusively, so we figured we should find out more.
Cosmo makes good on its promise, as Fastpay provides a number of advantages to the player. And the casino, of course, but we’ll get to that in a minute.
As advertised, Fastpay allows jackpots to be processed with zero delay and without attendant assistance. For most players, waiting for a hand pay is exciting stuff, but for high limit players, they’d prefer to just play on. Fastpay lets them do that.
Also as promised, Fastpay does reduce “legwork and paperwork, freeing up more time for play.” The system also “eliminates errors associated with manual completion of paperwork,” whatever those might actually be.
The secret to Fastpay is players provide their personal information before they play. Having one’s information in the casino’s system means when a taxable jackpot is hit, the player simply enters a PIN, the paperwork is done electronically, and the player can continue with nearly zero delay in play.
Fastpay is just that easy.
During our visit, we saw a player hit at least three taxable jackpots (at one point, she had $30,000 in credits on the machine), and her play was virtually uninterrupted.
If you consider hand pays can often take 15 or more minutes to complete, that’s an additional 45 minutes playing time which otherwise would have been idle.
Which brings us to the other reason Fastpay is ingenious. It allows players to play more. Playing
more tends to work out really well for the casino.
Fastpay is only available in the Cosmopolitan’s High Limit Slot Lounge. Which makes sense, as Fastpay really only makes sense when a player gets multiple taxable jackpots, and that’s much more likely to happen in a high limit room.
Fastpay is just one example of how Cosmopolitan is getting serious about its casino like never before. The resort took years before it had its first two profitable months in the latter part of 2015.
Find out more about what the Cosmo is up to in CEO Bill McBeath’s interview with KNPR.
Fastpay in the Cosmopolitan’s High Limit Slot Lounge seems to be a win-win.
Wish we could say we got to personally use Fastpay during our most recent visit, but ultimately, we ended up enjoying some really, really expensive free cookies.