Casino Industry in Developing Countries
In the 21st century, casino industry of developing countries is very technical and technologically advanced than that of any previous time. Though developed countries have gone to the rise, developing countries are also going in slow. Due to the advancement of science and technology, people have become cautious about the latest news and information. By putting a click, they can get all information in front of their eyes.
Once there was a time when the casino was guided by the assumption and luck. Now it is based on judgement, information, calculation, free market economy, market mechanism and some indicators of common sense. Actually, people of the present time are much smarter than that of ancient time. Though developed countries have established this industry from the very beginning, developing countries are now at an early age of expansion. So, there is a great opportunity for introducing it as an emerging business if govt. regulation matched with its memorandum.
Situation of casino in developing countries is in a mixed environment. Nobody assumes what will be in the future or even within a few minutes. The market has become volatile and sensitive. This is because of the people’s interest, political situation, political parties interfere, unstable govt. policies and foreigners’ tour. As a citizen of a developing country, we easily can understand the political situation. There is a disharmony in planning where time to time the situation has become changed. Policy formulators and implementers have a diverse ideology that is why the main problem. For this reason, the gambling industry has remained kept inside. Without solving this major issue, we cannot expect a good environment for expanding casino industry. Somehow this situation must be solved by any hook or by crook.
There is a light of hope that the situation is now comparatively stable. A group of entrepreneurs has taken it seriously to flourish up this industry in initiative level. Primarily, it has received as a mode of entertainment and gaming. Gradually, they will make it as a business platform in professional level. Free account open, promotional offer, cash out benefit, cash back offer, experts advice, referral program, VIP bonus etc. offers already have been introduced by these experts. The more exclusive offers are coming on within a short time. For this reason, many people, especially young generations are becoming impressive in the casino industry. Some of them have curiosity and some of them have a lust for money. Again, there are some promotions from govt. like free registration for a limited time, online participation, power supply, online support, mode of payment facilitation, etc. which are really playing a parental support for expansion of business. These supports must be provided continuously to monitor the market mechanism. Govt. also planned for it for a long run.
The Casino industry has opened employment opportunities in developing countries. There are a number of people are earning their livelihood by engaging here. We have talked about some young guys who have a great passion in the casino industry. They are basically marketing graduates and they are planning to build careers here. They have found it challenging and they believe that mutual participation of citizens and foreigners’ will create a competition for earning revenue. Some of the business background students believe that such type of industry will open a free market mechanism for a long run. But, there is a risk of security management. They urge on the strength of technological support from govt. Without such type of support, the country will not move for a long run.
Globalization is an important characteristic for expansion of the casino industry in developing countries. In the global arena, there are many countries have moved faster than that of any others. The country which is more globally advanced, they are moving forward in the casino business. That is why some developing countries are more economically advanced than that of any others. In the 21st century, globalization plays a vital role here. But, developed countries are different. They are already captured the market and people from various countries move there to make involvement in the casino. That is why Las Vegas is one of the renowned place for a casino. If developing countries can wash away by the wave of globalization, they must be the unique place in Las Vegas.
There are some recommendations for developing and expansion of the casino industry in developing countries are. First of all, we have to launch the casino business with full faith and trust. Business should be customer oriented as like any other business. Then we have to careful about govt. policies. Without policies, guidelines, we could not do anything. We should always comply with govt. rules. Then, we should liaison with govt. agencies to run business successfully. There might be needed some primary or promotional cost. We have to agree with a costing. There is a need of payment of govt. charges as per rules and there is no opportunity for cutoff it. The market capturing mechanism must be developed to ensure existence. For this reason, various promotional offers must be introduced. Even sometimes these offers must be evaluated whether customers are satisfied or not. The casino must be simple in format so that players feel interest on it and feel attraction on it. Complexity is always avoidable. There site, which is more simple that receives more visitors. Finally, we should care about payment processor. There various payment processor acceptance ensures your acceptability to the customers.
Above all, the people of developing countries like Bangladesh believe that casino industry can be a hallmark in economy within this 21st century. It can create a great solution for unemployment and also be the medium of income source. People can get it as a source of entertainment. Some people will take it as a challenge. Some of them will believe it as a machine for luck test. So, there is a wide range of opportunities here if we can establish and apply it perfectly. If we cannot do it, it will be a place for crime and misleading sector. Corrupt people will use it for their own interest. Finally, govt. must be careful and initiate regulatory bindings for protecting misleading activities.