Slot Machines Business Plan
Slot Machines Business Plan
Slot Machines Business Plan Overview
This Slot Machines Business Plan refers to the business of gambling using slot albeit at a small scale level and simpler manner. This as represented by individual slot machines placed in low end bars, ‘locals’ or small premises with four to ten machines.
Think of it as the liberalization or devolving of slot gambling from the formal and perhaps intimidating casino in the city to estates, counties, peri urban and rural areas. The simple machines have broken the barriers to entry by making it affordable to gamble (Kshs10 and Kshs 20 ) and more important making slot gambling accessible.
On the business side the Chinese have made it affordable to acquire the machines. They now produce them for the mass market making them relatively inexpensive to purchase. This as compared to say five years ago.
Devolution has also helped the growth of the business by taking licensing decisions to the local. Although there are aspects of gambling controlled by a national body local authorities tend to carry more weight. The national authorities have also become more accessible by setting up regional offices.
How It Works
Before we get to the nitty gritty of the slot machine business it’s important to get a basic idea of how slot machines works. At the simplest a customer comes and inserts a coin in the machine’s slot so as to play. The payment is for the opportunity to play irrespective of whether he wins or not. Once he inserts the coin he presses Play. The machine will spin different patterns on the screen in front of the player.
To win the machine has to settle on the winning pattern, otherwise the player looses. Different machines have various definitions of what entails a win; for instance it could be three similar patterns, a set of patterns or any other definition.
Let us assume in our case winning entails the machine settling on three similar patterns; particularly mangoes. So if the player inserts the Kshs.20 coin, the machine spins and settles on a Mango Mango Banana, the player loses. And if it settles on Mango Mango Mango then the player wins.
So to make money the owner sets the odds of the machine. He could for instance set odds of 50%. This would mean say for every Kshs.100 that a customer or customers pay; he is left with Kshs.50, while Kshs.50 goes to the customers as winnings spread randomly. If the odds are say 30 %, and customers slot Kshs.1000 then it means the owner will be left with Kshs.300, while the players will get Kshs.700 spread randomly among them. One will lose Kshs.100, another wins Kshs. 200, another Kshs. 60 another wins Kshs.300 and so forth. It’s all random. Even by the time the player presses the Play button his chances of winning or losing are already preprogrammed; the spinning images are just props for entertainment, to make it real and for effect.
To gamble using a slot machine does not require any specialized knowledge; just to know where to insert the coin, which buttons to press, and what the winning patterns and options are.
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