North America Casinos and Gambling
North American casino and gambling scene dominated by 
USA casinos. In the United States alone there are nearly 1,500 gambling facilities ranging from casino resort style gambling facilities to poker rooms and pari-mutuel facilities. See the complete United States casino list. America is home to Las Vegas, Nevada and of course Vegas casinos are the top casino destination for American gamblers and international gamblers as well. Other hot gambling destinations in the U.S.A. include: Atlantic City, Biloxi, Reno and there is notable growth in the Gulf Coast gambling sectors: Mississippi and Louisiana. Both the western states of California and Colorado are also growing. In Colorado keep an eye on Black Hawk casinos. The riverboats of Illinois and Indiana continue to thrive and most recently you will find Pennsylvania casinos making a place for them on the map and other U.S. states are rapidly expanding their gaming horizons.
Pari-mutuel facilities are available in the U.S. and host events like jai alai, horse racing and greyhound races to bet on.
Canadian casinos and gambling seems to be picking up all over the country which now houses over 100 casinos and growing every year. Make sure you mark Canada casinos on your map. The casinos in Canada can range from medium-sized to incredibly large casinos. You’ll find slots, craps, roulette, keno, blackjack, baccarat and much more available. B.C. casinos are a very popular destination for Canadians and gamblers from the Pacific Northwest area of the United States. You’ll find the fine dining available in these casinos a real treat and the service impeccable.
Mexican casinos have not caught on quite yet – a couple opened in 2006 but are no longer open and from our reports there are no current re-openings yet scheduled. It looked for a moment in 2006 like things were going to be worked out but with the restrictions put on casino gambling by the Mexican government in 1935 they seem to be stuck… for now. We hope that we will see legalized casinos throughout the country soon.
World Casino Directory gives full attention to the most active casino continent in the world. With only three countries in it, North America has more casinos than any other continent.
We proud to produce you Top 10 North American Casinos:
The World Series of Poker (WSOP) tournaments, televised and watched around the world by millions, have transformed poker and particularly Texas Hold’em Poker into a national pastime for players and a national spectator sport in the United States. And it all started so simply with the arrival in Las Vegas of an itinerant Texas cowboy and professional craps shooter named Benny Binion, circa 1946.
Benny was a gambler but he knew how to hold on to his money and when the opportunity arose, he bought the Eldorado Club from its financially strapped owners, soon changing the name to “Binion’s Horseshoe”.
The idea of starting a highly-publicized poker tournament came to him after attending a special invitational poker tournament run by Benny’s friend, Tom Morehead of the Riverside Casino in Reno.
Benny hired the legendary and flamboyant odds maker and gambler Jimmy the Greek (Snyder) to handle the tournament and arrange publicity. The first tournament attracted only seven players but Benny was surprised at the amount of public attention drawn by the Greek’s astute advertising campaign.
The tournament winner, Johnny Moss, was dubbed the “First World Champion of Poker” and was awarded the prize of a silver cup.
The 1971 tournament was the first in which cash prizes were awarded. The publicity put Binion’s Horseshoe “on the map”. As a result, Benny Binion decided to call the event “The World Series of Poker and make the tournament an annual event.
In 1973, five card stud was added to the tournament but the main event was no-limit Texas Hold’em.
The number of players entering the tournament has grown every year but the start of the 21st century was when the World Series of Poker finally blossomed into a spectacle beyond the wildest dreams of Benny Binion, who died in 1989. Benny would have looked on in disbelief as 4,780 poker players entered the 2,000 WSOP. Within the past five years, participants have continued to enter the WSOP by the thousands. In fact, there were more than 23,000 players in 2005 – 839 of whom made it to the Main Event.
The WSOP for 2006 will have a maximum allowable participation of 8,000. Now Binion’s Horseshoe, the place where it all started is just “Binion’s”, the name shortened by the new owners, the gaming giant “Harrah’s Entertainment”, who purchased the property in 2004.
In 2005, the World Series of Poker was relocated from Binion’s to a larger Harrah’s property, the Rio, just off the Strip on Flamingo Road since the smaller size of the older Binion’s would be unable to accommodate the many thousands of players and spectators. However, in honor of Binion’s and the celebration of the 100 years founding of Las Vegas, the final two days of the WSOP Main Event was held in Binion’s.
In addition to the prize money, gold bracelets have been awarded to tournament champions. Two players, Doyle “Texas Dolly” Brunson and Johnny “Oriental Express” Chan, have won ten bracelets each. Again, one must wonder if Benny Binion could ever, beyond his wildest imaginings, believe that in the 2005 WSOP Tournament, 560 players won more than 47 million dollars and the first prize was a stupendous seven and a half million.
What a bonanza for Harrah’s as well with a 6% to 10% tournament rake, ESPN coverage and major tournament sponsors, Miller Brewing and Pepsi among many others, licensing fees from Nintendo, Microsoft and Sony. And it all started with an imaginative cowpuncher named Benny Binion thirty-five years ago.
Craps is the fastest – and certainly the loudest – game in the casino. With the big, colorful
table, chips flying everywhere and players yelling, it’s exiting to watch and exciting to play.
Craps also has the one of the lowest house edges against you of any casino game, but only if you
make the right bets. In fact, with one type of bet (which you will soon learn) you play even with the house, meaning that the house has a zero edge. This is the only casino game where this is true.
THE TABLE LAYOUT
The craps table is slightly larger than a standard pool table, with a wood railing that goes
around the outside edge. This railing acts as a backboard for the dice to be thrown
against and is sponge-lined on the inside with random patterns so that the dice bounce
randomly. Most table rails also have grooves on top where you can place your chips.
The table surface is a tight fitting green felt with designs to indicate all the various bets
that can be made in craps. It’s very confusing for a beginner, but all you really need to
concern yourself with right now is the “Pass Line” area and the “Don’t Pass” area. These
are the only bets you will make in our basic strategy (and for the most part the only bets
worth making, period).
BASIC GAME PLAY
Don’t let the confusing layout of the craps table intimidate you. The basic game itself is
very simple. A new game with a new player (the person shooting the dice) begins when
the current player “sevens out”, which means he rolls a seven. That ends his turn and a
new player is given the dice.
The new player makes either a pass line bet or a don’t pass bet (explained below) and
then throws the dice, which is called the “comeout roll”.
If that first roll is a 7 or 11, this is called “making a pass” and the “pass line” betters win
and “don’t pass” betters lose. If a 2, 3 or 12 are rolled, this is called “craps” and pass line
betters lose, while don’t pass line betters win. However, don’t pass line betters do not
win if the “craps” number is a 12 in Las Vegas or a 2 in Reno and Tahoe. In this case,
the bet is push – neither the player nor the house wins. All pass line and don’t pass line
bets are paid even money.
Barring one of the three “craps” numbers from winning for don’t pass line bets is what
gives the house it’s low edge of 1.4 percent on all line bets. The don’t pass bettor has a
stand-off with the house when one of these barred numbers is rolled. Otherwise, the
don’t pass bettor would have a small advantage over the house – something that no
casino permits!
If a number other than 7, 11, 2, 3, or 12 is rolled on the comeout (in other words, a
4,5,6,8,9,10), that number is called a “place” number, or simply a number or a “point”.
In this case, the shooter continues to roll until that place number is rolled again, which is
called “making the point”, at which time pass line betters win and don’t pass bettors lose,
or a 7 is rolled, which is called “sevening out”. In this case, pass line bettors lose and
don’t pass bettors win. When a player sevens out, his turn is over and the whole process
begins again with a new player.
Once a shooter rolls a place number (a 4.5.6.8.9.10), many different types of bets can be
made on each subsequent roll of the dice, until he sevens out and his turn is over.
However, they all have odds in favor of the house, many of them heavily in favor of the
house, with the exception of two: odds on a line bet, and “come” bets. Of these two, we
will only consider the odds on a line bet, as the “come” bet is a bit
more confusing.
You should ignore all other bets, as they carry odds that are too high against you. Yes,
this means that all those other players that are throwing chips all over the table with each
roll of the dice and making “field bets” and “hard way” bets are really making sucker
bets. They may know all the many bets and special lingo, but you will be the smarter
gambler by simply making line bets and taking the odds.
Now let’s talk about line bets, taking the odds, and how to do it.
LINE BETS
To make a line bet, simply place your money on the area of the table that says “Pass
Line”, or where it says “Don’t Pass”. These bets pay even money when they win,
although it’s not true even odds because of the 1.4 percent house edge discussed earlier.
When you bet the pass line, it means you are betting that the shooter either makes a 7 or
11 on the comeout roll, or that he will roll one of the place numbers and then roll that
number again (“make the point”) before sevening out (rolling a 7).
When you bet on the don’t pass line, you are betting that the shooter will roll either a 2 or
a 3 on the comeout roll (or a 3 or 12 if in Reno and Tahoe), or will roll one of the place
numbers and then seven out before rolling the place number again.
Odds on a Line Bet (or, simply called “odds bets”)
When a point has been established (a place number is rolled) on the comeout, you are
permitted to take true odds against a 7 appearing before the point number is rolled again.
This means you can bet an additional amount up to the amount of your line bet. This
called an “odds” bet.
Your odds bet can be any amount up to the amount of your line bet, although many
casinos will now allow you to make odds bets of two, three or even more times the
amount of your line bet. This odds bet is paid at a rate equal to the odds of that point
number being made before a 7 is rolled.
You make an odds bet by placing your bet directly behind your pass line bet. You notice
that there is nothing on the table to indicate that you can place an odds bet, while there
are indications loudly printed all over that table for the other “sucker” bets. This is
because the casino does not want to encourage odds bets. You have to know that you can
make one.
Here’s how these odds are computed. Since there are 6 ways that a number 7 can be
rolled and 5 ways that a 6 or 8 can be rolled, the odds of a 6 or 8 being rolled before a 7 is
rolled again are 6 to 5 against you. This means that if the point number is a 6 or 8, your
odds bet will be paid off at the rate of 6 to 5. For every $10 you bet, you will win $12
(bets smaller or larger than $10 are of course paid at the same 6 to 5 ratio). The odds of a
5 or 9 being rolled before a 7 is rolled are 3 to 2, so you get paid $15 for every $10 bet.
The odds of 4 or 10 being rolled first are 2 to 1, so you get paid $20 for every $10 you
bet.
Note that these are true odds – you are paid exactly proportional to your chance of
winning. This is the only true odds bet you will find in a casino, so be sure to make it
whenever you play craps.
AN EASY TO LEARN BASIC CRAPS STRATEGY
Here’s an example of the three types of outcomes that result when a new shooter plays
and how you should bet.
Assume new shooter is getting ready to make the comeout roll and you make a $10 bet
(or whatever amount you want) on the pass line. The shooter rolls a 7 or 11 on the
comeout. You win $10, the amount of your bet.
You bet $10 again on the pass line and the shooter makes a comeout roll again. This time
a 3 is rolled (the player “craps out”). You lose your $10 pass line bet.
You bet another $10 and the shooter makes his third comeout roll (remember, each
shooter continues to roll until he sevens out after making a point). This time a 4 is rolled
- one of the place numbers or “points”. You now want to take an odds bet, so you place
$10 directly behind your pass line bet to indicate you are taking the odds. The shooter
continues to roll the dice until a 4 is rolled (the point is made), at which time you win $10
on your pass line bet, and $20 on your odds bet (remember, a 4 is paid at 2 to 1 odds), for
a total win of $30. Take your chips off the table and get ready to bet again.
However, if a 7 is rolled before the point number (in this case, before the 4), you lose
both your $10 pass line bet and your $10 odds bet.
And that’s all there is to it! You simply make you pass line bet, take odds if a point is
rolled on the comeout, and then wait for either the point or a 7 to be rolled. Ignore all the
other confusion and sucker bets. Your have the best bet in the casino and are playing
wisely.
IMPORTANT NOTES ABOUT ODDS BETS
Odds bets can be made any time after a comeout point is rolled. You don’t have to make
them right away . However, you’d be foolish not to make an odds bet as soon as possible
considering it’s the best bet on the table. However, you are permitted to make, withdraw,
or reinstate an odds bet anytime after the comeout and before a 7 is rolled.
When you win an odds bet, be sure to take your chips off the table. Otherwise, they are
considered to be automatically “off” on the next comeout and will not count as another
odds bet unless you specifically tell the dealer that you want them to be “working”. But
in a fast moving and loud game, your request may not be heard, so it’s better to simply
take your winnings off the table and bet again with the next comeout.
Good Luck!
ABOUT THE AUTHOR
Tom McBroom is the webmaster for
Blackjack For Everyone, which is dedicated to
the beginning through serious recreational Blackjack player.
Visit his site for complete Blackjack instructions, advice,
strategies and the best online and Las Vegas casinos for
Blackjack.
Visiting family every summer in Nevada, we have made more than a few trips to the Reno/Sparks area, but have never made the extra 40 minute drive out to Pyramid Lake, north of Sparks. Now, upon reading up on Pyramid Lake, the fishing it offers and its history, we are planning to include a day or two this coming summer at this trout haven.
It was fascinating to learn that the Paiute tribe runs the fish hatchery and keeps the lake stocked with fish, mainly trout. Being close to Lake Tahoe, it was no wonder many celebrities have fished this large lake. But fish do not care who catches them, just that they are released safely so someone else can have the joy of feeling that hit on their line.
While reviewing fishsniffer.com I came across an article by Lee A. Weber (www.fishsniffer.com/guest/041 104pyramidtechnique.html) about fishing on Pyramid Lake. This article is extremely in depth and provides outstanding information, charts and pictures about fishing the lake. I found this information relative to lakes in my local area, as these areas are similar. I know a few fisherpersons that should read this article, especially on catch and release techniques.
Every indication points to Pyramid Lake being a great lake to teach children how to fish as well. Fishing requires a patience few children naturally have, but if a body of water produces continual catches for children, as Pyramid Lake seems to promise, their enthusiasm should never lack and their love of fishing will grow. All children should have the opportunity to learn how to fish.
As all fishermen know, fishing from the bank requires a little different gear than fishing from a boat. Yet, as with any lake I have been too, you can expect to pay more for anything you forget at the lakeside store. A quick check to the Ranger site (http://plpt.nsn.us/rangers/ht mls/camping.html) showed it is only six dollars ($6.00) for a day pass. This site also showed camping fees and gave very useful information regarding what was and was not permissible at the lake. So it would be wise to check into this information before completely taking off all your clothes to jump into the area of the lake that is considered a hot spring.
I can not wait to visit and try my hand at catching another world record fish out of Pyramid Lake. The photos of the lake are also stunning, so even if I don’t catch any fish – a day there beats any day working. Time to dust snow off the lures!
The rules of blackjack vary from country to country, state to state, city to city, casino to casino, and sometimes even from table to table within a casino, This was not always the case. When Nevada began offering the only legal blackjack games in the U.S. when the state legalized gambling in 1931, for about thirty years there were only two common sets of rules – Las Vegas rules and Reno rules. In both towns, the standard game was dealt from a single deck of cards, from which the dealer typically dealt out fifty of the fifty-two cards. The top card was burned, or turned over, onto the bottom of the deck, and the bottom card itself was never played. If the dealer ran out of cards in the middle of a round, he simply reshuffled the discard and continued play.
In both towns, player blackjacks paid 3 to 2, players could split and resplit any pair, and split aces received only one card each. In Las Vegas, the dealer waJ required to hit all sixteens and stand on all seventeens. In Reno, the dealer had to hit sixteens and soft seventeens, but stood on hard 17 and soft 18. In Las Vegas, players had the option of doubling down on any first two cards. In Reno, players could only double down on two-card totals of 10 or 11.
There were a few variations to these rules. Some casinos in Las Vegas allowed players to double down after pair splits. Some casinos in Reno allowed doubling down on 11 only. The insurance rule was invented in the late 1950s, and by the early 1960s, most casinos in both Las Vegas and Reno had adopted it.
Every other casino game praps is played the same way today that it was played fifty years ago. Roulette? No new rules in the past one hundred years or so. Baccarat? Same old game. Of all the traditional casino table games, blackjack is the one game in which, when you walk into an familiar casino, you have to ask what the rules are. And there are literally dozens rules variations.
Why? Because of card counters.
The big changes to the rules and procedures of blackjack started with the 1962 publication of Beat the Dealer, and the rules have been getting screwier ever since. Thorp’s book put a big scare into the casinos regarding the vulnerability of blackjack to intelligent play. Here’s a quick chronological rundown of what happened during that first five-year period of insanity:
1962: E.O. Thorp’s Beat the Dealer is published containing the Ten-Count system, designed for beating single-deck games. The book becomes a bestseller and players swarm into Nevada’s casinos to try their skill at counting.
1963: Nevada’s top gaming consultant, John Scarne, states publicly that card counting doesn’t work. He calls Thorp a fraud and a phony. Thorp keeps getting press and the card counters keep pouring into Nevada’s casinos. The casinos continue to add more and more blackjack tables to accommodate the crowds, but they also keep finding some players who are actually capable of using the Ten-Count. Scarne’s public statements that counting doesn’t work are having little effect on the general public. Independent analysts are praising Thorp’s system, and stories are spreading about some of the counters who are beating the casinos for substantial amounts of money.
1964: The Las Vegas casinos, distraught that some players are capable of legally beating them at a house game, change the standard rules of blackjack. Despite the fact that the casinos are raking in more money than ever from all of the incompetent card counters, the Las Vegas Resort Hotel Association announces that players in Las Vegas casinos will no longer be allowed to split aces, and doubling down will only be permitted on a two-card total of 11. Two weeks later, the casinos go back to their standard rules because their customers refuse to play against the new rules. John Scarne continues to tell players that card counting doesn’t work, while advising the casinos to stop dealing single-deck games and start dealing blackjack from four-deck shoes. He also starts telling players that it is dangerous to play in single-deck games, and that they should play in the “safe” shoe games only, which Scarne believes (incorrectly) were impossible to beat with card counting.
1965: Most of the Las Vegas casinos have switched to four-deck shoes. Some downtown casinos have adopted Reno’s hit soft 17 rule.
1966: The second edition of Beat the Dealer is published; it features the Hi-Lo count, a system that can handle multiple-deck games more easily than the Ten-Count. The counters keep coining. The public does not believe John Scarne’s pronouncements that card counting doesn’t work. Too many players are winning; casinos are making more money from blackjack than ever before in history, but they’re looking for a new way to deal with the few competent counters who can beat them. They hate the fact that some players can beat them.
The casinos’ search began for some combination of rules, payouts, dealing procedures, and number of decks that players would accept, but that would also leave the card counters with less opportunity for making a profit. As a result, today there are dozens of rule variations for blackjack.
Reno luxury real estate caters to discerning residents in a number of ways. Ski bunnies appreciate that there are no less than fifteen ski resorts within an hour’s drive, notably the Reno-Tahoe region. When the weather warms up, this same area is thriving with hikers, bikers, boaters, white water rafters, kayakers, fishermen and nature lovers. Hiking the Mount Rose Wilderness area is simply breathtaking, but that’s only one of many outdoor wonders in nearby Nevada territory. It’s no surprise, then, that many call Reno “America’s Adventure Place.”
Another reason people consider Reno luxury homes is that they’re in the center of the action. This bustling metropolis has a wonderful downtown nightlife full of top-notch restaurants, casinos, bars and clubs. The 210 North is a state-of-the-art European-style dance hall offering three rooms of sound, advanced lighting systems and upscale dcor. AllCity Live, Aura Ultra Lounge, BuBinga Lounge Nightclub, Divine Ultra Lounge, Nikki Beach and Satellite Cocktail Lounge are other cool spots for night owls to dance the night away and enjoy a few drinks. Reno gaming centers feature Blackjack, Poker, Texas Hold Em, slot machines, Keno, Bingo and Roulette.
The Riverwalk District is one of area resident’s favorite parts of town. On the second Saturday of each month, a $20 wine walk lets participants sample a glass of wine at twenty-two local drink merchants. Shoppers might stop at Dharma’s to peruse rare and out-of-print books or they may pick up fresh fruits and vegetables in the Downtown Marketplace. La Terre Verte features all organic, sustainable and earth-friendly gifts, while La Bussola & Center Gallery is an artist’s paradise, with home accessories, baby gifts, eco-friendly products, vintage jewelry and artwork. Diners living in Reno luxury real estate can indulge in French cuisine at Beaujolais Bistro, microbrews at Silver Peak Grill, or gourmet pizza at Pizza Reno. Then residents can stop for a pedicure at Aquarius Salon, a musical at Brka Theatre, an art class at Lake Mansion or a car show at the National Automobile Museum.
Reno is frequently referred to as the “Biggest Little City in the World,” meaning that the people are eclectic and friendly, despite the fact that there are at least 214,853 residents living in Reno luxury real estate. Since 2000, the population has grown 17% thanks to an extensive downtown revitalization and an influx of jobs for young professionals. A good portion of Reno luxury homes residents have come from the Sacramento or San Francisco basin. Big annual events like the “Hot August Nights” classic car show, “Street Vibrations” motorcycle show, bowling tournaments at the National Bowling Stadium, Cinco de Mayo celebration, “The Best in the West Nugget Rib Cook-off” and the Great Reno Balloon Race continue to draw thousands of visitors from around the world. It’s not surprising, then, that many of these people would like to stay here. In fact, Dawn Wells, the actress who played “Maryanne” on Gilligan’s Island, actress Sharon Stone, Nevada Governor Jim Gibbons, Olympic figure skater Kristi Yamaguchi and defensive back for the Oakland Raiders, Chris Carr, all live in Reno luxury homes.
A Blackjack player can play at any casino Blackjack table or at any online casino table, and win or lose. Although, a little unknown fact that a Blackjack player is most likely to lose money even if they have more winning Blackjack hands than losing Blackjack hands. Before playing Blackjack, it is best to come up with a battle plan. A good Blackjack player has to attack the game.
Now, there is a Blackjack attack plan. This plan is a progressive or ladder system that changes a player’s wager just about every Blackjack hand. This is not a plan that increases a player’s wager when a Blackjack player loses, because that is the wrong way to do things. Rather, to increase the wager with each winning Blackjack hand.
A Blackjack player needs to decide on the numbers and how many progressions to use in the game. Then the Blackjack player has a guide to start from. Now imagine that a player has $100 to play with, and the Blackjack player should play the $2 and $5 hands normally. So, now the Blackjack players base will start at $5 to start the plan.
This Blackjack plan is very simple to incorporate. When a player loses a Blackjack hand, the player places a $5 bet on the next hand. A Blackjack player never increases their wager after a losing hand. Instead, they start all over again. When a Blackjack player wins a hand, that is when the player starts to increase their wager for the next hand dealt. An example of this is $5 to $10, $10 to $20, $20 to $40, $40 to $80, and $80 to $160.
There are five levels of betting being set up to the top level of $80. If a player wins five Blackjack hands in a row, rather than winning $25, they will make $160 or more depending if they get blackjacks. However, if a player were to lose say five in a row, then that player would only lose $25.
If a player is very conservative, step it down a notch to three or four betting levels. Even at three levels, a Blackjack player can still pocket $40 instead of winning $15, that is almost triple the money.
As to double downs in Blackjack, that is a call a Blackjack player will have to decide based on their bankroll. Imagine that a player has won their first four Blackjack hands. Now, the player has $80 on the table and receives an 11 for his next hand which would be the fifth level of betting. If he or she doubles down, it is a bad Blackjack move. Why a player might say? Adding $80 would mean the players entire bankroll is at stake on just one Blackjack hand. Lose it and the Blackjack player goes home. Not very smart.
However, now say it is later in the game and the players bankroll is now $1000 or more. Adding the $80, which is profits at this point in time, might be a good Blackjack gamble. It will be a moment by moment Blackjack wagering decision.
No matter how a Blackjack player plays the hand, never risk most or all of the bankroll on any single Blackjack hand. Also, should a player gets up by two or three times their original bankroll, put that original amount back in the bank or pocket and make sure to leave the casino with that original amount.
Blackjack, and gambling, can be fun and exciting, but strategy ensures that a player maximizes their chances to win and come home with the cash, and that is the bottom line.
Nevada, a state in the Western United States, conjures up images of Las Vegas casinos and gambling. There is more to Nevada, however, than just gambling. If carried out with prudence, Nevada real estate investment can be a profitable venture. From magnificent penthouses to classy condominiums, and single family houses to seafront mansions, Nevada real estate offers a host of options for investors. Peruse further to know as to why Nevada can be considered as a real estate haven for investors.
Nevada has experienced significant real estate appreciation over the past few years. Nevada real estate has escalated by around 25% in the last twelve months. If this overwhelming rate were sustained for a period of four years, an average investment property in Nevada would double in value by the end of that period.
Even with a fabulous appreciation rate, Nevada real estate is still quite affordable. Unequivocally, real estate investors would want to strike a deal in either Las Vegas or Reno, which are the two major cities in Nevada. While an average Las Vegas home may cost around $370000, investors might need to cough up around $450000 for a home in Reno.
Another reason as to why you should invest in Nevada real estate is the fact that the state and its city, Las Vegas, are a huge tourist attraction. People from all over the globe flock to Nevada owing much to its legalized gambling and gaming industry. And a place with such immense popularity is highly unlikely to experience a slump in its real estate prices.
It’s true that Nevada real estate investment is a safe and relatively risk-free proposition. However, any buying or selling decision should be based on a comprehensive research of current market conditions. Getting hold of vital specs, such as pricing, neighborhood info, and the condition of the house, can help you bag a good investment property. After all, an informed real estate investor is more likely to strike a lucrative deal than a rookie in the same field.
Copyright © 2007 Joel Teo. All rights reserved. (You may publish this article in its entirety with the following author’s information with live links only.)
Lake Tahoe Real Estate Investments:
A Good Mix of Fun & Financial Benefits
By Theresa Souers, president South Tahoe Association of Realtors
Lake Tahoe is perfectly situated just a few hours drive from the sophistication of San Francisco and just over the mountains from the sparkle of Reno, Nevada. Nestled in amongst spectacular mountains with breathtaking panoramic views and crystal clear fresh water lakes, the Lake Tahoe area is rich in both natural beauty and solid investment opportunities.
Over two million visitors a year come to Lake Tahoe to enjoy snow and sun alike. During the ski season people from all over the world, flock to the slopes for some of the best skiing in the United States. First class resorts such as Heavenly, Squaw, and Kirkwood are a popular draw for the recreation minded. And, the hot tourist market doesn’t cool down when the snow melts. Summer brings a whole different crowd—one looking for warm, sunny days full of boating, biking, hiking, camping, and of course, golf. There are nineteen golf courses in and around the Lake Tahoe area including the two world-renowned courses at Incline Village framed by a stunning mountain backdrop.
Gambling Attractions Add Attractiveness
As if these attractions weren’t enough, for those who prefer their entertainment indoors, Lake Tahoe’s casinos add to its reputation as an all-season, world-class vacation destination. Popular events such as the Summer Outdoor Concert Series, the Shakespeare Festival and the Renaissance Fair do their share to draw in visitors. After all, half of Lake Tahoe is in Nevada, and South Lake Tahoe is centered about Stateline (the California-Nevada state border) where the area’s largest casinos are located.
The question is, what do all these visitors have in common? The answer: they all need somewhere to stay when they come to play.
Getting Investment Returns from Rental Properties
Throughout the decades, the value of Lake Tahoe rental properties have consistently grown at a rate higher than the state and national averages. Every indication is that Lake Tahoe real estate values will continue to climb in the coming years. One reason is what’s known in the real estate business as the “rolling boom”—one of the strongest indicators of a particular area’s investment potential. This is when an area grows due to its affordability as compared with its more pricey neighbors. In the case of Lake Tahoe, it sits squarely centered among major real estate hot spots predicted to have solid growth. Consider these statistics:
- The population of Nevada is growing four times faster than that of the United States and is predicted to double by the year 2023.
- Reno , Nevada is currently rated toward the top of the Metro Growth list.
- The San Francisco Bay Area has developed affordability challenges where the average price of a home exceeds the average homebuyers’ budget.
Other economic factors indicate that rental properties may make a solid investment. The following have a direct affect on the real estate market: the U.S. gross domestic product, unemployment, consumer price indexes and interest rates. According to the National Association of Realtors, the U.S. gross domestic product should increase from 3.7% in 2005 to 4.1 % in 2006. The Consumer Price Index is projected to rise 2.9% and inflation-adjusted disposable personal income is forecast to increase 4.5% in 2006. And finally, despite recent modest increases, interest rates remain at record lows.
With the recent “pause” in rapid price increases, this may well be the best time to enter the revenue producing rental home market. In fact, the second/vacation home market is the fastest growing segment of real estate investments today. Lake Tahoe—as an international recreation destination with a bright demographic future—is one of the top recommended investment areas. When considering Lake Tahoe vacation properties for income purposes, an investor has two options, both of which can produce great results: a vacation or a full time rental.
Vacation Rentals vs Full Time Rental Properties
The advantage of a full time rental lies in the consistent income the owner collects, while the tenant pays most of the utility bills. Currently, there is a shortage of full time rentals in the South Lake Tahoe area resulting in a vacancy factor of almost zero, with the average rental bringing in close to $400 – $500 per bedroom.
While the income from a vacation rental may not be as consistent, the potential for income can be much greater and has the added benefit of allowing personal use for the investor. In fact, there are very few opportunities today that offer rental properties that “Pay for Play.” With Lake Tahoe real estate, baby boomers can spend their vacations at their own rental property and have the confidence and security that they have also made a wise investment. For example, if a home with a purchase price of $500,000 were to increase an average of 7% in value annually—not the 20 – 30% seen in the past two years—an investor could still see the following:
- $35,000 in equity appreciation per year
- A potential of $25,000 in rental income per year
- Significant tax benefits
- A whole lot of fun in the snow, under the sun and/or at the casinos
There is no one right strategy.
Real Estate Investment Strategies
The important questions to consider in choosing a real estate investment strategy include:
- Can I afford to carry the mortgage, property taxes and other real estate expenses in the months when the property may not rent or rents lightly?
- What is the likelihood that my family will use the property enough to add significant value to this investment?
- Which is more important to me at this time, the certainty of a full time renter or the pleasure of a vacation home?
Nevada Real Estate vs. California Real Estate
Lastly, there is always the California or Nevada question to be decided when purchasing real estate in the Lake Tahoe area. Is it better to buy on the California or the Nevada side of the state line? Both offer distinct advantages. Bottom line, full time residents of Nevada enjoy the benefit of living in a state with no personal income taxes. On the other hand, real estate located on the California side is as much as 50% less expensive between the South Lake Tahoe shore in California and the North Shore of Nevada.
Whichever way an investor chooses to go, California or Nevada, full time or vacation rental, Lake Tahoe offers many kinds of attractions as well as investment attractiveness. From my own personal experience, Lake Tahoe real estate is a great investment opportunity whether your investment goals are income, equity growth, tax leverage, or just plain old vacation fun.
Nevada is of course a popular vacation destination, especially the cities of Las Vegas and Reno. Many people visit Nevada to gamble, take in a Las Vegas show, or see the attractions on the Las Vegas Strip. Yes, you could spend all your time playing slots, poker, blackjack or roulette, but the state also has much to offer the golfer, including several excellent public golf courses, so why not get outside, get on the green, and enjoy a great game of golf?
1. Cascata in Boulder City is a course designed by the famous golf course architect, Rees Jones. The course, which is only 30 minutes from the Las Vegas Strip, first opened in 2000. The course takes it name from the 418 feet (128 metre) waterfall (Cascata is Italian for “waterfall”) that forms a center piece attraction of the course.
2. Edgewood Tahoe Golf Course which is in Stateline, was designed by Tom Fazio and first opened in 1968. The course offers stunning views of Lake Tahoe and the surrounding mountains, and the final three holes are actually on Lake Tahoe.
3. Lake Las Vegas Resort is a stunning resort facility in Henderson in southern Nevada, about 17 miles (27 kilometres) from the Las Vegas Strip. The Resort is home to spas and world class hotels, as well as three golf courses, including the superb Reflection Bay Golf Course.
4. Shadow Creek is a beautiful golf course in North Las Vegas, which was designed by Tom Fazio. The course, which has been rated by Golf Digest as one of the top 10 public golf courses in the nation, is associated with the MGM MIRAGE resorts in Las Vegas.
5. Wolf Creek Golf Course in a stunning golf course in Mesquite, which first opened in 2001. Set within and surrounded by rugged desert landscape, the course offers spectacular mountain views, and challenging but entertaining play. This course is particularly known for the dramatic elevation changes that it offers on several holes.
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