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This article has been viewed , times. Learn more If you're looking for a business venture that can earn you a lot of revenue in a short time, then learning how to start a casino might offer you the opportunity you need.
For centuries, gambling has been a favorite pastime for people of all walks of life, and it continues today.
However, starting a casino requires more than a passion for gambling: it requires a significant investment, accurate planning, and good business management.
Every day at wikiHow, we work hard to give you access to instructions and information that will help you live a better life, whether it's keeping you safer, healthier, or improving your well-being.
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Your support helps wikiHow to create more in-depth illustrated articles and videos and to share our trusted brand of instructional content with millions of people all over the world.
Please consider making a contribution to wikiHow today. Starting your own casino can be a fun venture, but it also requires some hard work securing the necessary licenses and funding.
Just make sure you can legally operate a casino in the area, since there are restrictions in certain locations. For more tips, including how to drive traffic to your new casino, read on!
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Related Articles. Article Summary. Part 1 of Check if commercial casino operation is legal in your area. While forms of gambling, including charitable and online gambling, are legal in most areas within the United States, commercial casinos are only legal in some states and provinces.
As of , commercial casinos could only be opened in 24 states. Check if commercial casinos are legal in your state by checking the American Gaming Association's website.
Within states, commercial casino operation may also be governed or disallowed by state and local regulations or zoning requirements. Some of these states may only allow certain types of gambling in casinos, such as betting on races.
Be sure to check all regulations before continuing with your casino planning. Check alcohol regulations. Odds are, if you open a casino, you'll want to serve drinks there and your customers will expect it.
However, alcohol regulations are some of the most important restrictions placed on casinos. These regulations are often governed by state regulations, so be sure to check your state's gambling laws for the relevant information.
This can usually be found on your state's website or with a quick web search. Others require that casino employees take specialized courses that involve training for dealing with intoxicated individuals.
Check age restrictions. Gambling, like alcohol and tobacco, is regulated to exclude minors. However, the exact minimum age varies by state.
In some states, year olds are able to enter casinos and have the same rights as an older persons. In others, all entrants have to be at least 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.
Study cash-on-hand requirements. Casinos must have a large amount of money available to them to cover the potential winnings of their customers.
Exact specifications vary between states, but are invariably large amounts of money. Casinos must be able to cover potential winnings, which means that they must actually have as much in cash available as there are chips out on the floor at a given time.
This amount may also include things like cash to cover slot machine winnings or cash paid to past winners in installments. Check self-exclusion laws.
Casinos are required to follow relevant laws that require the temporary or permanent exclusion of specific individuals. In some cases, customers can put themselves on such a list or in others it is up to the casino to do so.
Each state has vastly different regulations governing this. Search for your own state's regulations to ensure that you are complying with this law.
See other restrictions and regulations. The most important thing to keep in mind is that casino regulations vary widely from state to state.
Research your own state's regulations forwards and backwards before committing to a casino business plan. The American Gaming Association has provided a useful guide to your state's regulations.
This guide can be found here. If in doubt about any of the wording or meaning of any regulation, consult with a lawyer in your area. Part 2 of Construct a business plan for your casino.
The will be a professional-looking document that describes your start-up investment, projected earnings and growth and business and marketing strategy.
Make sure to include a feasibility study that examines the demand for a casino and the justification of investment. Employ an architect to design your casino to meet all your needs and comply with local safety regulations.
Include a scale model of the casino to show the layout and the style. See how to write a business plan for more information.
Raise the capital you need to start a casino by presenting your business plan to investors like banks or private investors. Make sure to review all investment contracts with your lawyer before signing, so you understand exactly what your rights and obligations are.
Starting a casino will always be expensive, regardless of how you set yours up. You will also need to buy equipment, land, build your casino, and purchase a gambling license, all of which can be very expensive.
Register your casino with the city and state to obtain a business license and employer's identification number EIN. This will require registering with the IRS and any other regulatory bodies that have power over casinos in your area, which could include state government, local government, and gambling organizations.
Check with a lawyer to be sure that you are properly registered. Use the same strategies as successful casinos. Casinos use a variety of tricks and strategies to ensure that customers spend as much money as possible.
These tactics have been developed over years of experience in the industry and are followed by most successful casinos. We had so many comments from the guests saying how much they enjoyed the Casino.
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