Table of Contents
Chapter 1 - Introduction to the Gaming Industry1
| Scope of the Gaming Industry | 1 |
| Scope of the Gaming Industry | 2 |
| Historical Development of Gaming | 3 |
| Major Segments of the Gaming Industry | 5 |
| Gaming Products and Services | 6 |
| Economic Importance of the Gaming Industry | 9 |
| Industry Revenue Models | 10 |
| Regulatory Environment | 13 |
| Historical Development | 15 |
| Summary | 17 |
| Review Questions | 18 |
Chapter 2 - Gaming Industry Structure20
| Overview of the Gaming Industry Structure | 20 |
| Commercial Casino Gaming | 22 |
| Tribal Gaming Operations | 24 |
| Sports Betting and Sportsbooks | 27 |
| Online and Mobile Gaming | 29 |
| Gaming Equipment and Technology Providers | 31 |
| Integrated Resorts and Non-Gaming Operations | 32 |
| Industry Consolidation and Competitive Structure | 35 |
| Summary | 38 |
| Review Questions | 39 |
Chapter 3 - Casino Operations and Organization41
| Overview of Casino Operations | 41 |
| Casino Organizational Structure | 43 |
| Gaming Floor Operations | 45 |
| Casino Cage and Cash Management | 47 |
| Player Services and Customer Relations | 49 |
| Security and Surveillance Functions | 52 |
| Accounting and Financial Operations | 54 |
| Human Resources and Staffing | 57 |
| Management Reporting and Performance Oversight | 60 |
| Summary | 63 |
| Review Questions | 64 |
Chapter 4 - Casino Games and Gaming Mathematics65
| Overview of Casino Game Categories | 65 |
| Probability and Randomness in Casino Games | 67 |
| House Advantage and Expected Value | 69 |
| Table Game Mathematics | 73 |
| Slot Machine Mathematics | 77 |
| Payout Odds and Pay Tables | 82 |
| Hold Percentage and Casino Win | 86 |
| Volatility and Game Variance | 89 |
| Player Behavior and Betting Patterns | 93 |
| Using Gaming Mathematics to Evaluate Performance | 95 |
| Summary | 98 |
| Review Questions | 100 |
Chapter 5 - Slot Machine Operations101
| Overview of Slot Machine Operations | 101 |
| Types of Slot Machines and Game Formats | 103 |
| Slot Machine Components and Technology | 106 |
| Pay Tables, Denominations, and Payout Structures | 108 |
| Slot Floor Layout and Machine Placement | 111 |
| Player Tracking and Loyalty Integration | 113 |
| Jackpots and Hand-Paid Awards | 115 |
| Machine Maintenance, Testing, and Security | 118 |
| Slot Performance Analysis and Management | 120 |
| Summary | 125 |
| Review Questions | 126 |
Chapter 6 - Table Game Operations127
| Overview of Table Game Operations | 127 |
| Major Types of Table Games | 131 |
| Table Game Staffing and Dealer Responsibilities | 133 |
| Chips, Tokens, and Table Inventories | 136 |
| Buy-Ins, Payouts, Fills, and Credits | 140 |
| Game Procedures and Internal Controls | 143 |
| Player Ratings and Betting Activity | 147 |
| Table Game Revenue and Hold Measurement | 151 |
| Security, Surveillance, and Cheating Prevention | 156 |
| Summary | 160 |
| Review Questions | 161 |
Chapter 7 - Sports Betting Operations162
| Overview of Sports Betting Operations | 162 |
| Sportsbook Structure and Staffing | 164 |
| Types of Sports Wagers | 167 |
| Odds, Lines, and Pricing | 170 |
| Bookmaking and Risk Management | 174 |
| Bet Acceptance and Ticket Processing | 177 |
| Settlement, Payouts, and Voided Wagers | 180 |
| Mobile and Online Sports Betting | 184 |
| Sports Betting Controls and Regulatory Requirements | 186 |
| Sportsbook Performance Measurement | 189 |
| Summary | 194 |
| Review Questions | 195 |
Chapter 8 - Online and Mobile Gaming197
| Overview of Online and Mobile Gaming | 197 |
| Online Casino Platforms and Game Offerings | 201 |
| Player Registration and Account Management | 206 |
| Identity Verification and Geolocation Controls | 208 |
| Deposits, Withdrawals, and Payment Processing | 210 |
| Bonuses, Promotions, and Player Loyalty Programs | 214 |
| Online Gaming Performance Measurement | 217 |
| Summary | 222 |
| Review Questions | 223 |
Chapter 9 - Poker and Tournament Gaming224
| Overview of Poker Operations | 224 |
| Cash Games and Poker Room Structure | 227 |
| Poker Tournament Formats | 231 |
| Buy-Ins, Entry Fees, and Prize Pools | 233 |
| Rake and Other Poker Revenue Sources | 236 |
| Dealer Procedures and Table Management | 241 |
| Player Seating, Waiting Lists, and Game Selection | 243 |
| Tournament Administration and Payout Structures | 248 |
| Poker Security, Collusion, and Cheating Risks | 252 |
| Poker Room Performance Measurement | 257 |
| Summary | 262 |
| Review Questions | 263 |
Chapter 10 - Casino Cage and Cash Operations264
| Overview of Casino Cage Operations | 264 |
| Cashier Functions and Responsibilities | 266 |
| Chip, Token, and Currency Management | 270 |
| Player Deposits and Front Money | 275 |
| Casino Credit and Marker Transactions | 280 |
| Check Cashing and Other Financial Services | 283 |
| Cage Transfers and Vault Operations | 287 |
| Internal Controls and Security Procedures | 291 |
| Cash Shortages, Overages, and Exception Reporting | 295 |
| Summary | 301 |
| Review Questions | 302 |
Chapter 11 - Credit to Customers303
| Overview of Casino Credit Operations | 303 |
| Player Credit Applications and Approval | 308 |
| Credit Limits and Risk Assessment | 313 |
| Front Money and Player Deposits | 321 |
| Credit Collection and Outstanding Balances | 323 |
| Credit Losses and Allowance Considerations | 327 |
| Internal Controls Over Credit | 330 |
| Summary | 334 |
| Review Questions | 335 |
Chapter 12 - Player Loyalty and Casino Marketing336
| Overview of Casino Marketing | 336 |
| Player Loyalty Program Structure | 342 |
| Player Identification and Tracking | 347 |
| Player Ratings and Customer Value | 349 |
| Promotions, Incentives, and Bonus Programs | 354 |
| Responsible Gaming and Marketing Restrictions | 360 |
| Measuring Marketing and Loyalty Program Performance | 362 |
| Summary | 368 |
| Review Questions | 369 |
Chapter 13 - Gaming Regulation and Licensing370
| Overview of Gaming Regulation | 370 |
| Federal, State, Tribal, and Local Regulatory Rules | 376 |
| Gaming Commissions and Regulatory Authorities | 380 |
| Operator Licensing Requirements | 383 |
| Employee and Key Person Licensing | 387 |
| Vendor and Gaming Supplier Licensing | 390 |
| Regulatory Reporting and Recordkeeping | 394 |
| Compliance Examinations and Enforcement Actions | 395 |
| Summary | 398 |
| Review Questions | 399 |
Chapter 14 - Tribal Gaming Fundamentals400
| Overview of Tribal Gaming | 400 |
| The Indian Gaming Regulatory Act | 403 |
| Classes of Tribal Gaming | 407 |
| Tribal-State Gaming Compacts | 411 |
| Role of the National Indian Gaming Commission | 415 |
| Tribal Gaming Commissions and Internal Regulation | 419 |
| Key Operational and Regulatory Challenges | 422 |
| Summary | 426 |
| Review Questions | 427 |
Answers to Chapter Questions428
Glossary461
Index464
Course Details
Author: Steven M. Bragg, CPA
Steven Bragg, CPA, has been the chief financial officer or controller of four companies, as well as a consulting manager at Ernst & Young. He received a master’s degree in finance from Bentley College, an MBA from Babson College, and a Bachelor’s degree in Economics from the University of Maine. He has been a two-time president of the Colorado Mountain Club, and is an avid alpine skier, mountain biker, and certified master diver. Mr. Bragg resides in Centennial, Colorado. He has written more than 300 books and courses, including New Controller Guidebook, GAAP Guidebook, and Payroll Management.
Publication/Revision Date: 10/7/2026
Course Exam Questions (online): 150 (multiple-choice)
Program Delivery Method: NASBA QAS Self-Study
Available Formats of Course Text: PDF or PDF plus printed copy sent in the mail
Course Level, Prerequisites, and Advance Preparation Requirements
| License | Course Level | Prerequisites | Advance Preparation Requirements |
|---|
| CPA | Overview | None | None |
Sponsor ID Numbers
National Registry of CPE Sponsors ID: 107615
State CPA Board Sponsor ID Numbers (where applicable)
Florida Division of Certified Public Accounting: 0004761
Hawaii Board of Public Accountancy: 14003
New York State Board for Public Accountancy: 002146
Ohio Accountancy Board: CPE .51 PSR
Pennsylvania State Board of Accountancy: PX178025
Texas State Board of Public Accountancy: 009349
Learning Objectives
As a result of studying the course material, you should be able to meet the objectives listed below:
- Recognize the competitive factors impacting the gaming industry, the different types of gaming niches, the impact of corporate ownership on it, value creation, risk factors, and how differentiation is used within the industry.
- Recall the subsections of the industry that have bargaining power, how to establish the competitive radius of a casino, structural factors for tribal gaming entities, and the unique operating factors and risks associated with each type of gaming.
- Recognize the general organizational and procedural structure of a casino, how procedural adjustments are used to create value, which controls are most critical, and how financial analysis and reporting can be used to optimize results.
- Specify the operational characteristics of casino games, the win-loss probabilities associated with them, how a casino earns profits from them, and the impact of outcome volatility on earnings.
- Recall how slot machines function, the key controls and risks related to them, and how they are positioned to optimize profits and equipment maintenance.
- Recognize how table games function, the key controls and risks associated with them, data collection requirements, how a casino earns a profit from them, and how their operations can be optimized.
- Recall how sports betting operations function, how to optimize and measure them, the key controls and risks associated with them, how a casino earns a profit from them, and how to operate digital sportsbooks.
- Recognize how online and mobile gaming operations function, how to optimize and measure these operations, the key controls and risks associated with them, and how a casino earns a profit from them.
- Specify how poker and tournament operations function, how to optimize and measure these operations, the key controls and risks associated with them, and how a casino earns a profit from them.
- Recall the process flow within a cage, the key transactions it performs, essential cage controls, and the key risks that a properly-functioning cage can mitigate.
- Recognize the process flow for granting credit to customers, essential risks and how they are controlled, how to optimize credit operations, and the documentation standards of the credit function.
- Recall how player loyalty systems are constructed, controlled, and optimized, as well as how marketing activities and employee performance expectations are set to maximize profits while supporting responsible play.
- Recognize the structure of gaming regulations, how they apply to casinos and gaming-equipment manufacturers, and how casino operations should be structured to remain compliant at all times.
- Specify how tribal gaming is structured, both in terms of regulatory requirements and ownership, as well as casino accounting and reporting requirements, how to deal with compliance issues, and deal with casino funding requirements versus the needs of the tribe.
