Business Plan
The Problem
Many inexperienced gamblers enter a casino for the first time not knowing what they are doing. This ignorance ultimately makes them feel uncomfortable and not enjoy themselves very much. In addition, they are unaware of how quickly they can lose money in a casino, so they end up immediately wasting away their entire bankroll.
The Solution
This website very simply allows inexperienced gamblers to select any casino game they want and learn how to do three things:
1) Physically make bets and conduct themselves during the game.
2) Play the game with basic optimal strategy to increase their chances of winning.
3) Manage their bankroll to make their money last.
We realize that our target audience does not know very much about gaming, so we simplify the strategy section to include only the most important and obvious aspects of each game. This way, the audience can actually remember and implement the advice we give them. The website allows users to gamble intelligently and responsibly.
Business Discussion
This website can definitely generate income. People will be drawn back to this website every night they are at the casino resort, any time they want a refresher course on a specific game, and even on their mobile devices while they are playing the games. Therefore we can use this to our advantage in our finance strategy. We can create different versions of the website so that the person can select which specific casino's game rules he would like to view. Specializing the website for peoples' individual needs will also bring people back to the website, and may increase the chance they are willing to buy a subscription, especially if the person is a frequent traveler. I personally have never been to any US casino, because I am under 21. Therefore I do not know all of the "tricks of the trade" when it comes to casino etiquette. However, with additional funding, we can hire someone who can add another section of the website called "Inside the Casino," saying everything that can go wrong in a casino, what special events to do at or near the casino, etc. These insider details would also bring people back and make them far more interested in the website.
Promoting the Website
Although the website will have great content, the first step is letting users know we exist. Therefore, with an initial grant, I would advertise on as many major casino resorts' websites as possible (Harrah's, Atlantis, and Biloxi to name a few). We could also advertise on the TV, which broadcasts the World Series of Poker, World Poker Tour, High Stakes Poker (on GameShow Network), or Poker After Dark. Therefore we are able to target at least an audience of people interested in poker. Surprisingly enough, many people who watch these channels do not know how the strategy behind games. A lot of them just like watching people gamble large amounts of money. Even the people who know how to play poker may not know a lot about casino games such as Roulette, so we serve a purpose for them as well. Additionally, we could target the Discovery channel when they have an episode about top casino resorts, to attract people who are almost definitely inexperienced at gambling.
Potential Problems
Paying for subscription or membership opportunities may not work because people are not drawn to this website daily. Even though they may come back every time they want to learn about a new game, or just refresh what they have already learned, they probably won't be willing to commit to a subscription. There are not many additional benefits I could give to people who pay, and the people who come to the site are interested in spending money in a casino and not on a website.
Costs
We will ask a sponsor to contribute a dollar amount equal to the costs related to maintaining the website. In the initial phase of the website, this will be a relatively small amount, perhaps just the price of buying a domain name. As time progresses, costs will include paying someone to update the site to add new casino games, modify old ones, or add new features to the site. We do not plan to set up an actual business location to manage the website, and we do not plan on selling anything (tangible or intangible).
In addition to a sponsor, we can raise additional money through advertisements.
Financing
Sponsorships
A few companies or corporations may be willing to sponsor the website. Harrah’s Casino, for example, is very public about their commitment to responsible gambling in their casinos. They even pay for TV commercials advocating responsible gambling behavior. Therefore they may be willing for a small amount of money to sponsor a website that helps people gamble responsibly. If Harrah’s declines we can ask any other casino to sponsor the website for the same reasons.
We can also ask companies that help addicts to sponsor the website, such as gamblingaddiction.org.
We can contact the Gaming Control Board of each state, which regulate all locations, practices, and related gaming activities in the industry. Any one of these states may be willing to sponsor the website for a small amount of money.
Advertisements
Casino resorts would be eager to advertise and attract inexperienced gamblers to their casinos. Advertising on this website assures that they are targeting an audience of gamblers. Although this website helps inexperienced gamblers make better decisions, the casino will always have an advantage regardless. We can also incorporate some packaged deal offerings so that frequent gamblers return to the website.
Donations
Finally, we can add a Donations section to the website, perhaps for the gamblers who won money thanks to the information we provided them.
The Problem
Many inexperienced gamblers enter a casino for the first time not knowing what they are doing. This ignorance ultimately makes them feel uncomfortable and not enjoy themselves very much. In addition, they are unaware of how quickly they can lose money in a casino, so they end up immediately wasting away their entire bankroll.
The Solution
This website very simply allows inexperienced gamblers to select any casino game they want and learn how to do three things:
1) Physically make bets and conduct themselves during the game.
2) Play the game with basic optimal strategy to increase their chances of winning.
3) Manage their bankroll to make their money last.
We realize that our target audience does not know very much about gaming, so we simplify the strategy section to include only the most important and obvious aspects of each game. This way, the audience can actually remember and implement the advice we give them. The website allows users to gamble intelligently and responsibly.
Business Discussion
This website can definitely generate income. People will be drawn back to this website every night they are at the casino resort, any time they want a refresher course on a specific game, and even on their mobile devices while they are playing the games. Therefore we can use this to our advantage in our finance strategy. We can create different versions of the website so that the person can select which specific casino's game rules he would like to view. Specializing the website for peoples' individual needs will also bring people back to the website, and may increase the chance they are willing to buy a subscription, especially if the person is a frequent traveler. I personally have never been to any US casino, because I am under 21. Therefore I do not know all of the "tricks of the trade" when it comes to casino etiquette. However, with additional funding, we can hire someone who can add another section of the website called "Inside the Casino," saying everything that can go wrong in a casino, what special events to do at or near the casino, etc. These insider details would also bring people back and make them far more interested in the website.
Promoting the Website
Although the website will have great content, the first step is letting users know we exist. Therefore, with an initial grant, I would advertise on as many major casino resorts' websites as possible (Harrah's, Atlantis, and Biloxi to name a few). We could also advertise on the TV, which broadcasts the World Series of Poker, World Poker Tour, High Stakes Poker (on GameShow Network), or Poker After Dark. Therefore we are able to target at least an audience of people interested in poker. Surprisingly enough, many people who watch these channels do not know how the strategy behind games. A lot of them just like watching people gamble large amounts of money. Even the people who know how to play poker may not know a lot about casino games such as Roulette, so we serve a purpose for them as well. Additionally, we could target the Discovery channel when they have an episode about top casino resorts, to attract people who are almost definitely inexperienced at gambling.
Potential Problems
Paying for subscription or membership opportunities may not work because people are not drawn to this website daily. Even though they may come back every time they want to learn about a new game, or just refresh what they have already learned, they probably won't be willing to commit to a subscription. There are not many additional benefits I could give to people who pay, and the people who come to the site are interested in spending money in a casino and not on a website.
Costs
We will ask a sponsor to contribute a dollar amount equal to the costs related to maintaining the website. In the initial phase of the website, this will be a relatively small amount, perhaps just the price of buying a domain name. As time progresses, costs will include paying someone to update the site to add new casino games, modify old ones, or add new features to the site. We do not plan to set up an actual business location to manage the website, and we do not plan on selling anything (tangible or intangible).
In addition to a sponsor, we can raise additional money through advertisements.
Financing
Sponsorships
A few companies or corporations may be willing to sponsor the website. Harrah’s Casino, for example, is very public about their commitment to responsible gambling in their casinos. They even pay for TV commercials advocating responsible gambling behavior. Therefore they may be willing for a small amount of money to sponsor a website that helps people gamble responsibly. If Harrah’s declines we can ask any other casino to sponsor the website for the same reasons.
We can also ask companies that help addicts to sponsor the website, such as gamblingaddiction.org.
We can contact the Gaming Control Board of each state, which regulate all locations, practices, and related gaming activities in the industry. Any one of these states may be willing to sponsor the website for a small amount of money.
Advertisements
Casino resorts would be eager to advertise and attract inexperienced gamblers to their casinos. Advertising on this website assures that they are targeting an audience of gamblers. Although this website helps inexperienced gamblers make better decisions, the casino will always have an advantage regardless. We can also incorporate some packaged deal offerings so that frequent gamblers return to the website.
Donations
Finally, we can add a Donations section to the website, perhaps for the gamblers who won money thanks to the information we provided them.