How Gambling Supports Small Business

When it comes to running a small business, one of your first big concerns is where to find customers. One category of customers no small business can afford to ignore is casinos and other gambling establishments.

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Q3 2020 hedge fund letters, conferences and more

Gambling supports jobs, grows businesses

A study conducted by the American Gaming Association highlighted the many ways gambling establishments support small business. According to the study, casinos support about 350,000 jobs at small enterprises nationwide. They do this because they require vendors for their many products and services.

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Small businesses that operate in an area where gambling establishments are located generally enjoy increased demand for their products and services, so they require more workers to fulfill more orders. Additionally, restaurants and bars located in the vicinity of a casino often attract more customers because of their location near a casino.

According to the American Gaming Association, small businesses in the U.S. would lose $52 billion in revenues without casinos. That revenue includes both direct and indirect economic activity. Casinos directly purchase over $3 billion in goods and services from small enterprises every year. Indirectly, they attract more customers to small businesses in their area.

How to target casinos and gambling establishments

So how do smaller companies go about attracting casinos and other gambling establishments as customers? If you don't already have a foot in the door, you'll have to make some extra efforts to get your business before decision makers at the casino.

The most obvious way to do this is to try to make an appointment with people who make decisions at your local gambling establishment. Get a presentation together to show why they should switch from their other provider to your business. This will be an uphill battle, but it's one you shouldn't ignore even though it might be difficult. You should also try networking with casino executives through people you already know.

Aside from trying to get appointments with those decision makers, you should also participate in networking functions you know they will be at. For example, many casinos hold events for various purposes, like an annual charity event. The benefit of the charity event is that not only will you get to meet people who work at the casino, but you'll also get a chance to meet people in positions of authority at your local charities. Thus, even if you can't get the casino on board as a customer, you can still benefit from attending such events by getting other customers.

The same methods of attracting casinos and other customers you can meet through them might not work for every business, so you should keep that in mind when deciding which strategy to use. However, whatever you do, you can't afford to miss out on the opportunities provided by marketing your company to gambling establishments and potential customers you can meet through them.