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South Dakota Bet Limit Raised to $1000

Mar.05, 2012 9:09:PM
deadwood

The betting limits are going up at casinos in South Dakota.  South Dakota Governor Dennis Daugaard has signed the higher bet limits into law.  No public vote will be required for the new limits to take place.  The South Dakota Commission on Gaming must come up with new policies that address the new limits before they go into effect.  These include higher security and higher cash requirement for casino cages that offer higher limits.  These new gaming regulations should go into effect no later than July 1, 2012.  When the new gaming regulations are in effect, the new bet limits will be introduced.

This will be the second time betting limits have been raised in South Dakota.  When gambling was first allowed in South Dakota, the bet limit was $5.  In 2000, the bet limit was raised to $100 where it currently stands until new regulations are written.  Poker tournaments are not covered by the bet limit.

The new bet limit will cover casinos on state land within the City of Deadwood and the 11 casinos located on tribal land.  While the bet limits are going up, table games will still require skill and cards.  That means that craps and roulette will still not be available in South Dakota.  Casino style gambling is only allowed within the Deadwood city limits and on tribal land.  Bars within South Dakota may offer video lottery which include video versions of poker, keno, blackjack and slots.

Gambling revenue in Deadwood has slumped in recent years.  Deadwood leaders blame the recession, a casino smoking ban, and higher bet limits in Colorado for the lower gaming revenue.  There is also increased competition in the Deadwood market with the addition of the Deadwood Mountain Grand and The Lodge at Deadwood which has hurt some smaller casinos.

One recent victim of the hard times recently is the Hickok’s gaming and hotel complex.  First Interstate Bank recently foreclosed on the property and the property was auctioned off on the Lawrence County courthouse steps.  First Interstate Bank was the only bidder on the property and retained control of it.

Other current gaming laws will remain unchanged in South Dakota.  This includes a limit of 30 gaming devices in a single room and a maximum of 250 total gaming devices within one establishment.  This rule applies to Deadwood and the state’s tribal casinos.

This is just the first step that Deadwood needs to attract high rollers.  There is little in the way of high end restaurants or entertainment in Deadwood.  In order to attract the type of player that might bet $1000 on a hand of blackjack, there must be more luxury activities.  While there is plenty to do in the outdoors around Deadwood, Deadwood is far below the standard when it comes to luxury amenities for a casino town.