How To Get Into The Casino Business
In order to venture upon this step you should possess certain knowledge in the field of conducting internet business, gambling development, marketing and promotion. If you have neither of those rely on the Online Casino Market company, which has decades of experience in development of gambling projects behind its back.
Keep on reading if you want to know how to become a casino owner. We shall provide you with some basic information.
Also, some of the jurisdictions require you to provide a business plan as one of the demanded paperwork. Therefore, even if you do not want to prepare a business plan in some cases, you will need to have a ready business plan. Without it, you will not get benefit from online casino business opportunities. You need to conduct a thorough research regarding existing laws in the area where you want to establish your casino business, know the system of filing the application and gather more information concerning fees, background checks and requirements needed by the licensing division of the state.
There are Three Main Ways to Create an Online Casino and Become a Casino Owner:
Independent development, integration and promotion of the software for gaming website
This is a long-term, hard and money-consuming option. Of course, you are the boss, get all the benefits and totally control the program but heavy expenses, huge ammount of time spent and tough sales conditions spoil the whole picture.
Purchase of license from a gambling software provider
This method implies the use of the gaming software owned by the provider of such product. It will cost you less and require no personal efforts for casino development but this partnership does not allow full control over your establishment. Most likely you will become a member of an already existing network, which saves your time and money at first but then you will share revenues with the provider on a monthly basis.
Buy casino software from the development company
Gambling software is difficult thing to create. So as to entice a client all of the slots presented at your website should be professionally and thoroughly designed and feature fine mathematics by all means. And if you don’t have the relevant programing experience the chances that you will ultimately develop a lame product are quite high.
How To Get Into The Casino Business Office
That is why the purchase of the ready-made software is a very good (if not the best) choice. You simply acquire turnkey solutions from the gambling provider, get the gaming software installed on your server under the domain you chose. All technical issues like configuration, adaptation to customer specific needs, design, integration of payment systems are done by the company.
As soon as you buy casino, you have absolute control of and management rights for a gaming establishment, which means that all the profits belong only to you, its sole proprietor, and no further charges shall be imposed on you. The only thing that will be left to do is promote your casino.
Casino Software Development
Before you pick out a software, examine the gaming platform operating on its basis.
Take good care that you paid attention to the following criteria of the gaming software:
- engine capacity;
- opportunities of the functional for integration of new games;
- interface features and visual characteristics of games;
- return percentage, etc.
Online Casino Market specializes in providing a whole range of services relating to gambling and casino club development in particular. You can order an online gaming establishment or buy the ready-made one. We recommend the last option, since it can considerably economize your resources and you get a product meeting the world standards. The company also consults on how to become a casino owner, gives detailed appropriate instructions or even draws a plan.
If you want to earn huge money within a very short period of time, then you can consider starting a casino business. Starting and running a casino are big jobs. The business demands huge capital investment and definitely, it is not easy to run a casino. Here in this article, we have provided a comprehensive guide on how to start a casino business.
Actually, the casino comes to the gaming and entertainment industry. Basically, casinos arrange certain types of gambling activities. In casinos, customers gamble by playing games of chance, in some cases with an element of skill, such as craps, roulette, baccarat, blackjack, and video poker. Most of the games come with a mathematically determined odds that ensure the house has at all times an overall advantage over the players.
Currently, a modern casino is like an indoor amusement park for adults. The entire premise comes with musical shows, lighted fountains, shopping centers, lavish hotels, and elaborate themes that help draw in the guests.
Market Opportunity for Casino Business
The casino market is very wide globally. Casinos are one of the major revenue-contributing segments in the global gambling market. The global casino market is highly diversified and competitive. It is because of the presence of a large number of regional and international vendors across the globe.
However, the industry experts are expecting growth at a CAGR of 15.25%. Some of the major casino markets in the world are the USA, Asia Pacific, Europe, Middle East, Africa, Canada, and Latin America. Basically, the Macau, Las Vegas, Nevada, Singapore, France, Atlantic City, and New Jersey earn the highest revenue from the casino business.
Different Types of Casino Games
There are different types of casino games which are very popular nowadays. Some of the most popular casino games are
1. Slots
Basically, slots are a specific type of machine. It plays a number of different games. Here, a player inserts coins into the machine. Then they pull a handle or press a button. This causes the wheels to spin. When the wheels stop, the player gets paid based on the pattern of symbols.
2. Blackjack
It is a card game. Here, an individual can play the game with a dealer. The dealer deals out two cards to each player and keeps two cards. The dealer has one card face up and one down. The players take turns trying to get as close as they can to 21. The player calls “hit” to get a card and end their turn. A player can also call “double.” They can only get one card and their turn ends. If a player has two identically numbered cards, they can split.
3. Roulette
Basically, the roulette is a table game. The table has numbers 0-36 and 00. It has additional betting for even-odd, red-black, low 18-high 18, low/middle/high 12 and for the first/second/third columns. The dealer spins the wheel clockwise. Then, they roll a ball counter-clockwise. The ball lands in a numbered slot on the wheel. All bets that correspond with the number win.
4. Poker
Poker is one of the popular casino games globally. It is also a game of five-card hand. Hands are ranked from lowest to highest. The order of hands is a high card, pair, two pairs, three of a kind, straight, flush, full house, four of a kind, straight flush, and royal flush. The player with the best hand wins.
5. Craps
Craps is a dice game. Here, the players make wagers on the outcome of the roll, or a series of rolls, of a pair of dice. If a seven or 11 turn up on the first roll of the dice, the shooter wins whatever they bet. If the shooter rolls two, three, or 12 on the first roll, they lose the money, but not the dice. When the person rolls a four, five, six, eight, nine, or ten that number becomes their “point.” The shooter keeps rolling until their “point” turns up again for a win or until the person throws a seven and loses the money and the dice.
Casino Business Plan
Starting a casino business requires huge startup capital investment. Therefore, you must craft a comprehensive business plan before getting into the business. Additionally, a professional-looking business plan document helps you in securing the start-up investment. Make sure to include a feasibility study that examines the demand for a casino and the justification of investment.
In the financial part of the plan, you must include the projected earnings, growth strategy, and marketing strategy. The below-mentioned points will definitely help you in creating a casino business plan of your own.
Licenses & Permissions for Casino Business
Licensing and permissions are the crucial aspects of starting this business. First of all, you have to check the commercial gambling regulations. Check if commercial casinos are legal in your state by checking the American Gaming Association’s website. Also, check the local regulations or zoning requirements for operating a casino business in your location.
Additionally, check the alcohol regulations. It is mandatory if you want to serve hard drinks to your customers. Finally, check the age restrictions. Actually, the exact minimum age varies by state. Hence, check your state’s restrictions and institute a policy of checking ID’s at the door so that you don’t run afoul of your state’s regulations.
How Much Money You Need to Start a Casino
Starting a casino business demands capital investment in building the infrastructure, procuring equipment, arranging resources and working capital investment. Therefore, it needs a large amount of money to start this business. Actually, a business plan will help you in getting finance from potential investors and banks including other financial institutions.
Register Your Casino Business
After arranging the finance, you must register your casino business. You will need to apply for a business license and employer’s identification number (EIN). Additionally, you will need to register with the IRS and any other regulatory bodies that have power over casinos in your area. Also, you will need to obtain a gaming license. It is advisable to engage a lawyer for getting everything done in the right way.
Build Casino Infrastructure
In building the casino infrastructure the primary requirement is the floor area. You will need to secure the required land area for building the casino. In this type of construction, you must engage an architect for creating the plan and execution of the said plan. Before starting the construction, apply for a construction permit from the local Govt. authority.
After completion of the construction, you will need to prepare an interior floor plan. You must provide a comfortable gaming atmosphere for your patrons. Additionally, procure the gaming equipment from a reliable supplier. Some of the most important instruments are slot machines, video poker machines, roulette tables, poker tables, blackjack tables, craps tables, baccarat tables, chips, cards and card shoes, and safes. Don’t forget to purchase business insurance to protect your business from any unwanted losses.
Finally, you will need to hire human resources for operating the casino. It is advisable to hire an HR manager first. And plan a full-proof HR policy with a recruitment structure. Hire only skilled and experienced manpower for a smooth operation.
Security System in Casino Business
In the casino, there are large amounts of currency handled within the premise. Hence, it raises the possibility of happening crimes. Therefore, you will need to take security aspects very seriously. One of the most basic steps you can take that is CCTV camera installation. Besides a specialized surveillance department, you will need to take care of the physical security too.
Promote Your Casino Business
How To Get Into The Casino Business Center
Basically, the casino is an upscale entertainment business. So, you must promote your casino in every possible option you have. Make your casino inauguration a grand function. Aware of the media about the opening. Prepare a media kit for the reporters. Invite the celebrities on an opening day. Advertise the inauguration ceremony in both electronic and print media. Try to collaborate with travel and leisure holiday companies. Promote your casino business on the travel blogs too.