Online casinos have shown themselves to be extremely lucrative over the years and here we look at what it takes to start up your very own casino business.
Naturally, gambling brings in money. Players often don’t mind losing so long as they are having fun and this is especially the case with casinos.
Native American gambling comprises casinos, bingo halls, and other gambling operations on Indian reservations or other tribal land in the United States. Because these areas have tribal sovereignty, states have limited ability to forbid gambling there, as codified by the Indian Gaming Regulatory Act of 1988. As of 2011, there were 460 gambling operations run by 240 tribes, with. Southern California casinos welcome social media influencers who can bring in a crowd Pala Casino, Spa & Resort folds on poker during the pandemic — here’s the deal Spotlight 29 Casino. HowToStartCasino can be your best advisor when starting your own online casino business. We help you indicate the best software developer, who will deliver best breed software solution for a successful business start and further dealing. Today 62 of the 109 California tribes own tribal casinos. California has 69 total Native American casinos including 50 Indian casinos, 16 Indian casino resorts and 3 mini-casinos. These casinos host 70,000+ total slot machines and 2,000+ table games. These numbers are more than any other state.
Casino businesses, both land-based and online, bring in more money than the film and music industries combined and the figures involved, while already mind-boggling, can continue to grow given that in the USA more and more states are legalising online gambling.
So, what do you need to do to start your own online casino? Here we look at some of the basics:
Write a Business Plan
Essentially, starting a casino is no different in the early stages to any other start-up in that you will need to have a comprehensive business plan written.
Within this you will need to check on the legality of casinos in the territory you wish to operate in, while also making yourself fully aware of the rules and regulations set forth by the local authorities. Mobile casino sites. In the case of the UK, this would mean registering with the Gambling Commission.
Get Funding & Licences
With your business plan written, you can access funding to start up. Many new businesses open up various funding rounds to keep the money coming in as they hit each phase; website development, research etc. Check out chrunchbase.com to see how much money has been given by investors to similar businesses.
Even before any platform becomes live it will need to be fully licenced, so get ahead of the game and petition for a licence from the authorities during the development phase.
Integrate the Right Software
Your online casino table games and slots will be powered by specialist software developers, so make sure you pick the best out there such as NetEnt, Microgaming or PlayTech and factor this in when writing the business plan and looking for funding.
Using the best developers will mean your games are reliable and most of all fun – if they aren’t then players will simply ditch and move to another casino.
Hire the Right People
The right people, not necessarily the most expensive people. Sitting out there right now are passionate, fully capable developers, marketers and accountants just itching to be involved in a business like this.
Check freelance platforms for people with great feedback who would perhaps prefer to work permanently for a new casino start-up.
These people should be interesting in the online gaming or gambling world too, as that passion cannot be replicated. Your people should know what makes casino players tick but you should also plan to implement great training plans to keep them motivated and knowledgeable.
Get the Word Out There
This is a potentially very lucrative business for you if you have the guts to start it up, but it will be lost in the sea of online casinos, bookmakers and games if you aren’t smart in publicising your venture.
QUESTION: What is the Difference in Gambling at Indian Reservations and Regular Casinos?
ANSWER: In the world of brick-and-mortar gambling, there are traditional casinos and then there are Indian reservation casinos (or Indian Casinos). At first glance, the two might not seem much different, but scratch beneath the surface and you’ll find a whole host of distinctions.
Knowing the difference in gambling at Indian reservations casinos and regular casinos might not make much difference to your bankroll, but it should provide you with a greater understanding of how the industry works. And for those who take their gaming seriously, every scrap of information is valuable on some level.
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Distinctions between Traditional and Native American Gambling
The items listed below are some of the most notable differences between gambling in Las Vegas and at a Native American casino. The next time you decide to go on a gaming road trip, give both locations a try and see if you can spot additional variations.
Location – The most fundamental difference is related to location. As the name would indicate, Indian reservation casinos are always located on lands set aside by the government for the use of specific Native American tribes. Regular casinos, meanwhile, can exist on any other property.
The total geographical area of reservation land equals 2.3% of the total area of the United States. Some tribes have multiple reservations allotted to them, while around 200 of the nation’s 550+ recognized Indian tribes have no land at all.
Revenue – While Las Vegas and Atlantic City would hate to admit it, the annual revenue from casinos on Indian reservations exceeds the combined totals for gaming in both cities. In 2009, for example, Native American locations pulled in $26.5 billion across 28 states.
Selection of Games – Most reservation casinos offer the same games as their competition. Some states have different laws though, so you might not find certain table games in a particular casino, for example. Or the way the slot machines work might vary. (See our post about Class II and Class III slot machines for more details about that.)
Payback Percentage – This is the biggest difference between gambling at regular casinos and Indian reservations. In many states (Connecticut is a notable exception), Native American -Indian- casinos are not required to report their payback percentages, which means the number could be decidedly unfriendly to the player. However, any Indian reservation casino manager will tell you that their rates are on a par with the competition, and there may be some truth to that. After all, a lower payback percentage on slots and other electronic games means fewer winners. Over time, a casino with a reputation for paying out less will begin to lose business. Whether they offer a 75% or 90% payback, the casino is still going to turn a profit.
Size – When it comes to the overall size of a brick-and-mortar gaming establishment, the folks in Atlantic City, Reno, and Las Vegas have a hard time competing with casinos built on Indian lands. Much of this has to do with location, as regular casinos have to build in cities that are already filled with everything from residential housing to shopping malls. Indian land is more wide open, which makes it easier to allot massive tracts of land for construction.
Today, the second largest casino in the United States is the Foxwoods Resort Casino on the Mashantucket Pequot Indian Reservation in Ledyard, Connecticut. It has over 6,300 slot machines, 380 table games, and the biggest bingo hall on the planet. The largest U.S. casino (WinStar World Casino in Thackerville, Oklahoma) is owned by the Chickasaw Nation of Oklahoma, although it is not located on an Indian reservation.
Legality – While traditional land-based casinos are subject to all state and federal laws, a 1979 Supreme Court decision ruled that states could not regulate activities on Indian reservations or tax their occupants. This was bolstered by a 1987 decision that said casino activities could not be state regulated as long as the type of gambling offered was legal in the state.
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The law was further defined by the Indian Gambling Regulatory Act, which requires Indian tribes to consult the state before offering casino gaming. In the case of an impasse, the Secretary of the Interior is called upon to mediate and make an eventual ruling.
The revenue from casinos on Indian reservations is meant to be spent on charitable ventures and tribal government operations. In some cases, however, the profits eventually find their way into the hands of tribal members, although you can count on the state and federal government getting their cut.
Cultural Considerations – While traditional casinos offer a wide variety of themes, visitors to gambling locations on reservations should expect a certain Native American flair to the décor. This isn’t always true, of course, but tribal leaders tend to be proud of their heritage and make every effort to provide displays and exhibits to educate their customers. At the very least, some basic decorations in the Native American tradition can usually be spotted in certain locations throughout the establishment.
Other cultural issues sometimes relate to traditional Indian beliefs and superstitions. An interesting example occurred when the Fire Rock Navajo Casino was under construction in New Mexico. Numerous problems led some to believe that the endeavor was being cursed by skin-walkers, magical practitioners adept at turning into animals and generally behaving in a sinister fashion. The construction continued, however, and the CEO of the casino later assured visitors that various blessings had been performed to ward off evil. Despite possible efforts from the forces of evil, the casino is still in operation.
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Management – While you might suppose that casinos on Indian reservations are managed by members of the tribe, you would be wrong in many cases. Casino games on line. In this way, gambling at Indian reservations isn’t much different than regular casinos, as they want to bring in experts who can squeeze every ounce of profit out of the business. For example, Harrah’s manages one such location in North Carolina, and Donald Trump once tried his hand at managing a reservation casino in California.
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Next time someone is wondering about the differences in playing at Indian Casinos and regular casinos you’ll be able to provide an appropriate and informed answer. Armed with this knowledge, serious players can then make a determination about the best place to play.