Casino Party Budgets range from $25. to $100. per person, depending on location, food and beverage, and décor. Food will often comprise 40% of the budget, with 40% allocated to the Casino Vendor, and the additional 20% allocated to facility rental, entertainment, prizes, and decorations. These amounts will vary depending on your organization's preferences.
This first step is critical to the success of your event. You want to make sure your casino party vendor carries professional looking equipment and not just table toppers (laydowns that sit on top of a banquet table). In addition, the vendor should have at least 8 - 10 years experience and should own their equipment. Many agencies and event companies misrepresent the fact that they own their equipment, when they just subcontract to a casino rental company. Some agencies have been known to double the rental fee when they subcontract. There are many newcomers to the industry that just imitate their competitors, and don't have the experience to run a proper event. Also, a qualified vendor will be able to give advice on table and prize selection. Some vendors will give a few choices in renting the equipment, such as full service (providing everything, including the dealers), limited service (providing the tables and a Pit Boss, and they would train your volunteer dealers), and table rental only.
The date of your event may be determined on the facility and vendor availability. Often this step is planned months in advance, especially if it's a popular time of the year (such as the first two weeks in December). Fundraising event planners should check the local social calendar, to see that there are no major conflicts. Most casino parties will last for about four hours, with about 3 hours of actual gambling time and the rest for food serving, cashing out at the end of the night, and prize giveaways.
The location you select should be easily accessible to your attendees. The facility should also be able to accommodate the casino tables, food and beverage, entertainment and your attendees comfortably. Some facilities, such as hotels, will not allow you to bring in outside food vendors.
The number of tables you select should be based on the number of attendees expected. Most casino planners expect 75% of guests playing at any given time. The other 25% will be either watching, eating, enjoying the entertainment, or schmoozing. Your casino vendor will be able to make a recommendation on the types of tables needed for your sized event.
While it's not necessary to have a theme, it does create excitement about your event.
Here are some of the most popular casino themes:
When you've decided on the theme for your casino party it's time to get creative. Invitations, decorations, costumes, food, party favors, and entertainment should all fit the theme chosen. Even the play money handed out to guests should match the theme of your event.
Most often, the food at casino parties is served buffet style. Some events will have a sit-down dinner, and then move to the casino party area. Space is often a consideration when planning the food and beverage selections. You need to plan for lines (sometimes long) at the buffet and bars. The bar may be either an open or a cash bar. Many events will supply one or two drink tickets to all attendees, and then have them pay for any additional drinks. Often, the casino vendor will be able to recommend a good caterer, if needed.
The most popular entertainers at casino parties include DJ's, Magicians, Fortune Tellers, and Caricature Artists. A DJ, while not necessary, will be able to make any necessary announcements. Magicians will often be able to perform strolling magic, and demonstrate gambling sleights. Fortune Tellers are always a popular choice of entertainment. The Caricature Artist will provide a keepsake for your attendees.
A theme makes it easy to choose all of your decorations, party favors and invitations. A sit-down dinner will often have themed centerpieces, as will cocktail tables. Some events will have red, black and white balloon trees scattered about. Party stores will often carry a selection of these items.
The number of prizes to be given away is often based on the number of attendees, in addition to the budget supplied. Often, many organizations may have donated prizes from their vendors or members. Many of your attendees will be very competitive at the gambling tables, competing for the best prizes. A nice Grand Prize will attract more attendees to your event. There are two ways that prizes are given away at casino parties - raffles and auctions. With the raffle method, typically, attendees are given one raffle ticket for a certain amount (such as $20,000.) in either chips or play money held by the gambler. For example, if a gambler has $100,000 in chips at the end of the night, they would receive 5 raffle tickets with the example above. The auction method would have the dealers add up the total amount won by each gambler, and then an auctioneer would then begin to "sell" the prizes.
Casinos have an edge and they make money, FACT. Players bet on Roulette and the game has a built in edge in the casinos favour. The player wins or loses on individual bets, but the casino is looking at the odds over the LONG term.
It’s a bit like the way the insurance companies calculate insurance premiums, they lose sometimes, but they have an edge in their favour where premiums collected are more than their payouts.
Therefore, Individual bets even out over the long term and the casino earns according to the following equation:
Casino Profit = (Total Bets All Players) x (House Edge)
Roulette balls and dice have no memory. Every spin in roulette is independent of all past events and the current spin is not influenced by previous spins. This combined with the house edge dooms all roulette systems to failure.
Roulette systems cannot work, as there is no reliable data to base a system on in the first place. If you don’t have data you rely on, you can’t have a system that works!
Over time, the longer you play, the ratio of money lost to money bet will get closer to the house edge. If you win in the short or long term, it is purely down to chance, or luck.
Progression systems are based on the belief that this equation can be beaten. It is an attempt to ignore the truth and tries to place bets according to a set equation in an attempt to change the house edge in favour of the player. There are two main types of progression roulette systems:
A system where wagers are raised after a losing bet is called a negative progression. The logic behind this type of betting system is the frequency of winning sessions.
It assumes that in almost every session, the player will be able to leave on a win.
The downside is that losing sessions can be very expensive for the player. The most famous of these systems is the Martingale system. While a player would lose over time anyway, the casino gives itself some added protection restricting the number of consecutive bets!
Another method is positive progression, pyramiding, or letting a profit ride.
Players are willing to gamble more aggressively with money they have won in order to win bigger amounts.
The downside of these systems is the player needs to keep winning.
The player needs a long series of wins and the odds are strongly against him, in fact the house edge tells you that he can’t win and the longer he plays the more obvious this will become.
The fact they are sometimes playing with winnings is irrelevant over time to their overall profitability.
It is obvious from the above that casinos can’t lose over the long term because of the house edge.
The above systems will not work, as there is no reliable data to base them on.
Players can win in the short term, (by chance), but the longer they play the more the casino gains an edge and wins.
To get the house edge down to its lowest level does not require roulette systems, all you need to do is know the right bets and how to place them.