Electronic gaming system and method for managing funds transfer based upon proximity of a mobile device to a geofenced zone

A method of providing a geofence with respect to a gaming zone, the method comprising:

• providing a plurality of electronic gaming machines (EGMs) within the gaming zone;
• providing a transmitter configured to output a first unique identifier, the first unique identifier corresponding to a first EGM of the plurality of EGMs;
• receiving, at a mobile terminal a request to transfer funds to a gaming wallet accessible at the first EGM of the plurality of EGMs;
• receiving, at the mobile terminal, the first unique identifier from the transmitter;
• and
• determining, based on receiving the first unique identifier at the mobile terminal, that the funds transfer request should be prevented.

A mobile terminal comprising:

• a wireless receiver;
• a processor coupled in communication with the receiver;
• and
• a memory storing instructions, the processor configured to execute instructions stored in the memory, which, when executed by the processor, cause the processor to:
• receive a request to transfer funds to a gaming wallet accessible at an electronic gaming machine (EGM) located within a defined zone;
• receive, from the wireless receiver, a unique identifier corresponding to the EGM;
• determine, based on the received unique identifier, that the mobile terminal is within the defined zone;
• and
• prevent the transfer of funds to the gaming wallet in response to determining that the mobile terminal is within the defined zone.