Patent ID: 8556707

Claim:
A method of performing a ticket redemption transaction on a multi-function ATM, the method comprising: providing an ATM capable of performing ticket redemption transactions, cash withdrawal transactions, and credit/debit transactions; receiving a redemption ticket from a customer directly presented to the ATM, wherein the redemption ticket includes encoded data and is provided from a gaming station provided by a first entity; receiving a presentation of an identification card at the ATM by the customer to uniquely identify the customer and access a customer tracking account associated with the customer, wherein the identification card includes either of a player tracking card provided by the first entity or a third party electronic funds card, and wherein the customer tracking account stores tracking data related to historical gaming activity, monetary transactions, and ticket redemption transactions from a plurality of customer gaming sessions in a customer tracking database provided by the first entity; electronically processing the encoded data to retrieve a machine readable identifier stored on the redemption ticket; validating the redemption ticket by electronically verifying the machine readable identifier against a redemption ticket database provided by the first entity, wherein the redemption ticket database associates the machine readable identifier with a predetermined monetary value, and determining the predetermined monetary value associated with the machine readable identifier on the redemption ticket; receiving a selection of a ticket redemption type from the customer, wherein selectable options of the ticket redemption type within the ATM include each of directly dispensing cash, electronically crediting to a third party account of the customer, and electronically depositing to a third party account of the customer; communicating with an authorization center operated by a second entity to enable transfer of an award equal to the predetennined monetary value associated with the redemption ticket to a third party account of the customer if the customer has selected a ticket redemption type of an electronic credit or an electronic deposit; transferring to the customer directly from the ATM the award equal to the predetermined monetary value associated with the redemption ticket according to the selected ticket redemption type, and wherein the transfer is performed when authorization is received for an electronic credit or electronic deposit ticket redemption type; and storing gaming station activity and ticket redemption transaction information specific to the customer and the redemption ticket within the customer tracking account during performance of the ticket redemption transaction, wherein the customer tracking account is updated with historical gaining activity associated with the redemption ticket and data related to monetary transactions and the ticket redemption transactions performed by the customer at the ATM.