does anyone have any experience with meeting with a casino, and "closing a deal"? I have a side bet and in Nevada it doesn't require a field trial to approve it, do casinos still do a field trial to see how it does and then talk about a deal or how has it gone?
Yes. But before explaining the process, it would help if you would answer theses questions:
1- Where are you located?
2- For what base game is your side bet (BJ, Bac, poker, etc.)?
3- Have you researched competitive products and pricing?
4- Do you have an independent math report from either GLI or BMM? And do you understand the Nevada Gaming Control Board (NGCB) approval process and costs?
5- Have you completed the design (name, layout design) and promotional literature (game manual, rack card)?
With any new game or side bet, though, you will have to make a free trial part of your offer, as well as a very competitive lease rate if the game 'sticks.'
U came to the right place. There are many experienced inventors on the forum.Quote: mountpleasantt
does anyone have any experience with meeting with a casino, and "closing a deal"?
Generally, the lease rate is a fixed amount per month. I've never created and sold a side bet for craps, but you need to be in charge of the deal and state the terms of the offer; e.g., 90 days free and $300/month/table after the trial. I'd strongly suggest you find out competitive pricing for popular craps side bets like Bonus Craps and All Tall and All Small ... and offer an introductory price for your new unproven bet well below those.
It would be very helpful to know a ballpark figure of lease rate so that inventor won't be taken advantage of. Cold calling game table directors, game developers asking for such info most likely will not yield anything. So, what is the best way to search for competitive pricing? What trade shows, magazines, and groups that inventors can rely on for hints of competitive pricing?
In general term, what is the typical average monthly lease rate for a new card game, a card game variation of an existing card game, a card game bonus side bet? Is lease rate for a craps bonus side bet generally higher than a lease rate for a typical card game?
True, a real "Field Trial" might not be legally required for your side bet, but if you manage to get a casino to install it, it's gonna be on a trial basis.
As such, whatever casino is the first to install it, should be getting it free for the duration of the trial period. Also, as an incentive, they should also get it free for as long as they care to keep it on their floor.
Note: If there is any type of legal requirement or issue which dictates that the casino must pay you, the rate should be $1 per month.
Once you get successful results, and can show those results to a second casino, THEN you start to consider and worry about the lease rate.
Maybe you get lucky from a timing standpoint and get in front of the right person in the right property that is looking for a craps side bet and willing to take a shot on yours for the cost of training their staff & surveillance on a new game...because there is a "cost" to the casino to put a new game on the floor that is more than just the lease rate.