If you can dream it, you can build it...right? Well, yes and no. While the world wide web has made it easier than ever before to bring your crazy ideas to life, opening up your very own bricks-and-mortar casino is still a complicated and expensive process. In this post, we’re going to look at what’s involved in setting up a land-based casino from start to finish. We’ve also thrown in some fun facts about casinos and online casinos along the way. Because…why not?!
Why do casinos have carpets?
Before we dive in, an unrelated question: Do you know why most casinos have carpets? No, it’s not because they love hoovering or that they’re trying to be quieter than Bingo halls. The truth is far more disgusting.
Apps You Can Use to Win Real Money in West VirginiaCasinos use carpets to soak up money! More specifically, they use them to catch the money that falls out of people’s mouths when they get “Munchausened Realities By-Proxy”.
If you’ve never heard of MRBP, it is a phenomenon where people continue to gamble on the off chance that they will “win back” all the money they’ve lost. Essentially, players are hoping to undo their previous bets and return to the beginning of their session.
Sadly, this isn’t possible but, from a casino’s point of view, MRBP is the gift that keeps giving. However, online casinos can’t protect themselves with carpets. That means they need strong policies, responsible features, and games that are fair as well as fun. At , all our slots and live dealer games tick these boxes. What else would you expect from the ?
Right, let’s get back to opening your own casino. Before you rush out and start looking for , there are a few things you need to think about. Indeed, just like any business, casinos come with a ton of legal and financial responsibilities. You can’t just turn an old warehouse into a Las Vegas-style paradise without planning permission. So, with that being said, let’s look at seven steps you’ll need to take if you want to open your own casino:
What You’ll Need to Open Your Own Casino
Step 1: Choose the Right Location
Unless you’ve got piles of cash lying around, you’re probably going to need to secure a loan or investment to get your project off the ground. That makes finding the right location even more important because you’re going to need to convince lenders and investors that your venue is going to be a hit. As well as thinking about footfall and local demographics, you need to consider any state or national gambling laws.
Free Spins No Deposit Required Bonus - Play Starburst Slot at Mr Green CasinoObviously, we can’t tell you exactly what the law is where you live. However, safe to say, you won’t get a license if your proposed site is within a stone’s throw of a church, school, or another casino. Other things to look out for include accessibility, parking facilities, and transport links. Naturally, you want as many people through the door as possible which means your casino needs to be easy to find and accessible to everyone.
Fun Fact:
The Venetian Resort Hotel Casino was built for $1.5 billion in 1999. Situated on the Cotai Strip in Macau, China, it is modelled after its counterpart in Las Vegas. With 3,016 rooms, suites and REALLY big clubs, it is one of Asia’s largest multi-destination leisure and the leading entertainment resort.
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Step 2: Apply for a License and Hire Staff Members Who Have Passed Suitable Background Checks
Once you’ve found the perfect location, it’s time to apply for a gambling license and hire staff. Getting a license isn’t always easy and you may have to jump through a number of hoops to get one. Not only will you have to prove the suitability of your venue, but you’ll also have to demonstrate a robust approach to AML (anti-money laundering). Security, CCTV, responsible gambling measures and background checks will also form part of the application process.
Speaking of background checks, you’ll need to make sure any staff members you hire pass similar inspections. This applies to everyone from dealers to security guards and cleaners. It goes without saying that you need to hire the best people for the job. But, more than that, you need to ensure they don’t have any criminal convictions or records for problem gambling.
No Deposit Bonus Alternatives for Online Casino PlayersFun Facts:
- The world’s first casino was called Ridotto and opened in Venice, Italy in 1638.
- The Venetian masks worn at carnival time were supposedly created so people could gamble anonymously at Ridotto.
- The oldest casino in the US is the Old Stone House in New York City. Originally built in 1699, gambling was offered from 1766-1784.
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Step 3: Source Games and Slots
This is where things get expensive. All casinos need a mix of table games, slot machines and card games. Depending on the size of your venue, you could be looking at spending tens of thousands of dollars on premium hardware. Of course, if you’ve got a smaller budget, second-hand equipment may be an option. Yet this will affect the resale value of your casino. Therefore you need to think carefully before taking this route.
Another thing to consider is branded games and slots. These can cost millions of dollars but they can also be a major draw. For example, a casino with several Hell’s Kitchen style restaurants might attract foodies and Gordon Ramsay fans.
Fun fact:
The world's highest casino is located on the 110th floor of the Taipei 101 tower in Taiwan. Known as the Fantasy Hotel & Casino, it is 370 meters above sea level. There are 800 eco-friendly slots and table games as well as incredible views of Taipei. Of course, if you win too much money, you may get dizzy and fall out of the window. To be on the safe side, we recommend playing at !
Step 4: Set Prices and Develop Policies for Chips, Cash Advances and Credit Extensions
Charging interest on credit is a good way to recoup some of the costs associated with bad debts. However, you’ll need to abide by local usury laws. Indeed, there are restrictions on the amount of interest you can charge. On a related note, you need to develop robust policies for extending credit and issuing cash advances. Too lenient and you could go bust. However, if you’re too strict, people won’t use your services. This is why responsible gambling consultants are often hired during the planning stages. They help you strike a balance between protecting vulnerable players and enticing high rollers.
Fun Fact:
The biggest reported gambler in history is William Lee Bergstrom. Also known as “Bill Boyd,” he was an oilman who died with $200 in his bank account and debts of $10m. Bergstrom spent the last twenty years of his life betting on black and red. He once won £16.2m over a 15-hour period at a French casino. After winning this mega sum, he declined to pay the lump sum tax and instead started betting higher denomination chips. Despite losing literally everything, Bergstrom continued to bet with loans. His story is both inspiring and tragic. Only gambling blogs could make it into a list of interesting casino facts!
Step 5: Install Surveillance Equipment and Hire Security Guards
Security should be at the forefront of your mind throughout the entire planning process. Unfortunately, casinos attract shady characters, and it’s your job to keep everyone safe. One way to do this is by installing top-of-the-range surveillance equipment. CCTV, alarms, panic buttons, two-way radios and access control systems are essential if you want to run a safe and secure casino.
Of course surveillance equipment is expensive. So, you may have to take out a loan or factor the cost into your profits for the first couple of years. Another thing to bear in mind is the fact that criminals often target casinos. That’s why you need to hire professional security guards. Their uniforms and demeanour should act as a deterrent. However, you should also offer cash in secret and store your funds in a burglar-proof safe.
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Step 6: Hire Dealers, Pit Bosses, Cashiers and Other Necessary Staff Members
As well as security personnel, you need to hire dealers, pit bosses and cashiers. When it comes to dealers, you’ve already thought about hiring suitable individuals. The same applies to pit bosses and cashiers. Moreover, you need to make sure everyone you hire understands the ins and outs of your casino’s policies and procedures. Additionally, they should know local and national gambling laws inside and out.
Best Free Poker Sites ❞ Real Money Not Necessary in 2023!From ensuring players are of legal age to checking for signs of problem gambling, everybody in your employ must be vigilant at all times. Of course, training deals, pit bosses and cashiers in these areas will increase your overheads. Nevertheless, doing so reduces the likelihood of fines, legal action and bad press. What’s more, it helps you create a safe and enjoyable environment for customers.
Fun Fact:
The city with the most casinos in the US is Elko, Nevada. Often referred to as the “Jewel of Northeast Nevada,” it has 24 casinos for a population of just 19,692 people. That’s one casino for every 816 residents! For those that prefer the UK, the answer isn’t quite as clear cut. However, there are hundreds of casinos spread across the country. From historic gaming houses in Bath and Birmingham to modern venues in Edinburgh and London, the UK doesn’t disappoint.
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Step 7: Arrange a Grand Opening and Start Promoting Yourself
You did it! After months (if not years) of hard work, blood, sweat and tears, your casino is finally ready to open its doors. Now you just have to arrange an opening night extravaganza and wait for the punters to flood in. However, you can’t rest on your laurels once the champagne has been popped and the confetti cleared away. Marketing, advertising and promotions should be high on your agenda. Otherwise people won’t know you exist. And in a highly competitive industry such as this, that is a recipe for disaster.
Fun Fact:
The smallest casino in the world is Betway UK Italia Maltese Plating Team’s racing car. Unveiled in August 2013, it measures 1.84 metres long x 0.98 metres wide x 0.98 metres high. As well as having a fixed wheelbase of 1.52 metres, it weighs 455 kg. Remarkably, it’s road legal and can carry two people. Sadly, it isn’t equipped with in-car entertainment such as online blackjack. Although you never know what the future holds…
Five Reasons Why Your Casino Dreams May Crumble
Okay, so we’ve outlined seven steps you need to take if you want to open a brick-and-mortar casino. However, there are lots of reasons why your plans may crumble. In fact, we’ve summarised five of the main ones below:
1. Obtaining a License Is Difficult
Local authorities aren’t keen on opening up in their area. Why? Because casinos can attract criminal elements and cause social problems such as problem gambling. Moreover, they often receive more applications than they have licenses available. This means competition for available permits can be fierce.
2. Setting Up a Casino is Expensive
Even if you are awarded a license, you still need to find the money to set up shop. Sourcing games and slots, installing security equipment, hiring staff, developing policies, promoting yourself and paying off the plot owners/landlords can all drain your resources. Unless you’ve got deep pockets or rich investors, your dreams of opening a casino may well crumble before they begin.
3. Running a Casino is Expensive
Not only is setting up a casino expensive, running one is pricey too. You will always attract players with different budgets and expectations. Some will lose money quickly and move on. Others will try to extend credit, steal from other players or attempt to cheat. That’s why you need a solid cash flow if you want to stay afloat.
of the Best No Deposit Bonus Casino Apps to Use This Year4. Players Can Be Difficult
High rollers are great for business. However, some players are simply impossible to please. They may kick off because they’ve lost or tried to cheat and lost. Or they could claim you’ve extended too much credit or that you’ve breached their privacy. Whatever the reason, difficult customers can cause a headache for even the most seasoned managers.
5. Criminals Target Casinos
Any business can be targeted by criminals. However, thieves, hackers and other unsavoury types often see casinos as soft targets due to the amounts of money involved. Burglaries, robberies, shootings, stana attacks and cybercrime are just some of the risks you face. What’s more, disgruntled employees (such as dealers and security guards) are often behind crimes committed in casinos.
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FAQs
Can anyone open a casino?
In theory, yes. But you'll need to obtain a license from your local authority which means jumping through a series of legal and financial hoops.
How much money do you need to start a casino?
There is no definitive answer to this question. It depends on factors such as the size and location of your venue, the types of games and slots you want to offer and how much local authorities charge for licenses.
Are online casinos harder to set up?
No. In fact, they are easier to set up but harder to promote and make profitable in the long term.
Does owning a casino make you rich?
It can do. However, you need to cover your costs, provide a safe and enjoyable environment, and give customers what they want.
Simple Steps to Play Online Slots at DraftKings CasinoCan you open a casino in your house?
Only if your local ordinances allow for private gaming and you've obtained all necessary licenses.
What casinos look for in a new location?
Footfall, local demographics, accessibility, parking facilities, transport links, and compliance with state/national gambling laws are all key considerations for casinos when choosing a new location.
