Gambling in the USA is a branch of the economy that brings huge profit, which is much more than the profit from movies, music studious, and touristic spheres. However, only two decades ago, the gambling industry was illegal in forty-eight states. Now the situation has changed dramatically: gambling zones in the USA are growing and multiplying day by day. A complete ban on any gambling services is still valid only in Utah and Hawaii.
The gambling industry is the most profitable and popular business in the USA. Nevertheless, in America, there is no single regulation of this sphere of action. Control over gambling zones is entrusted to local authorities and is carried out individually without the intervention of federal agencies. This regulation is valid and is written in The Code of the Laws of the United States of America (paragraph 3001, chapter 15). The document allows local authorities to determine and change the list of allowed games independently and control the organisation of events. The only common point is the definition of the acceptable age of players.
Despite a lot of legal obstacles, gambling in the US always finds very original holes in the law. Statutory provisions of Illinois, Missouri, Iowa, and Louisiana are an excellent example. The authorities of these states forbid categorically to play any casino on their lands. The result is that land-based gambling zones of the United States were moved to huge barges and floating facilities and carry on their business transparently because they are formally located not on the land of the state but on the water.
Summarizing the features of the registration of enterprises in America, the procedure consists of:
It is important to know that the name of the future enterprise (regardless of the type of its activity) should not duplicate the names of already existing companies. If the business will be registered under the real name of the owner, the formal registration of the object is usually not required. If the company name does not consist of the owner's name, it must be registered by local authorities. This can be done by completing a special DBA form. All names that contain such words as "company", "association", "partners", and so on, are considered fictitious automatically.
The composition of a bank account is one of the main stages of setting up your own company. Despite the number of legislative measures, which aim is to attract new investors to the country and facilitate the entrepreneurial activity, the development of the gambling business can be slowed down exactly if the bank will reject the provision of a credit. Very few people have an extra couple of hundred thousand dollars to open a gambling establishment without a loan from the bank.
The gambling license is the main document that gives operators the right to provide gambling services.
There are two types of documents:
There can be two types of this document:
Not only operators but other participants of the industry are obliged to have a license – manufacturers of slot machines and software vendors, providers of equipment, and each employee. Moreover, absolutely all employees should have a permit – for both employees who are directly involved in the provision of services and personnel that is not engaged in the process of the creation of games.
The amount of fees and tax rates depends on the type of the license.
The annual tax is two hundred fifty dollars for one kind of the equipment. Quarter rates are calculated with taking into account the total amount of equipment and can vary from eighty-one dollar (for one slot machine) to one thousand eight hundred fifteen dollars (the maximum possible number is fifteen devices).
Monthly taxes are calculated on the basis of the gross income:
Operators with unlimited licenses pay off fixed taxes:
The information on tax payments is presented on the basis of the free data of the state administration of Nevada. In other regions, the figures may be different.
The state pursues a loyal policy towards the aborigines. The gambling industry of the country is prosperous in most states.
The biggest locations of the American gambling industry are the legendary casino cities. For example, in Nevada, it is the world capital of casinos – Las Vegas. And the most famous part of New Jersey is Atlantic City.
Gaming clubs can be found in Arlington, Tacoma, and Renton. A special attention should be paid to the most atmospheric casinos owned by Native Americans – 7 Cedars Casino and Angel of the Winds.
Locations under the protection of Indians hold leading positions. Indian casinos belong to the largest gambling networks – Comanche and Cherokee.
The state has a successful competition with New Jersey – the number of gambling establishments is growing rapidly. Natural specifics of the region make it possible to develop floating gambling locations and expand their activity.
Each casino in this state is an embodiment of luxuriance and a large scale. In the region, there is an official permit for poker, so there are many thematic gaming clubs.
Considering the gambling industry as the most rapidly growing business in the United States, it is possible to highlight the general statutory provisions that govern this industry:
Land-based casinos are still popular nowadays but conducting this business on the Internet is an equivalent that is today a popular choice among operators. Online gambling in the USA and in other countries is also legal and profitable.
The Smart Money company is ready to provide its assistance in the opening and promotion of the gambling establishments.
We offer you the following services:
Smart Money has fifteen years of experience in the implementation and promotion of gambling online websites. We are ready to provide a full range of tools and services for the development of the gambling business, as well as the high-quality technical support for your virtual and real locations.
If you have any questions, you can contact us via any form of communication that can be found in the section "Contacts" on the Smart Money website.
You can find out more about the specifics of entering the American gaming market by contacting the specialists from the Smart Money studio. We guarantee prompt response and professional support in any issues associated with the organisation and conduct of gambling start-ups.
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