A Casino is a place where people can find a variety of ways to gamble under one roof. While modern casinos add a host of amenities like musical shows, shopping centers, lighted fountains and elaborate themes to attract people and boost profits, they would not exist without games of chance like slot machines, blackjack, roulette, baccarat, craps and keno. These games are what provide the billions of dollars in profits that casinos rake in every year.
Gambling probably predates recorded history, with primitive protodice and carved six-sided dice found at archaeological sites. But the concept of a casino, which combined a variety of gambling activities under one roof, did not develop until the 16th century, when European aristocrats held private parties at places called ridotti during a gambling craze. [Source: Schwartz]
Casinos are licensed and regulated by state governments and offer a variety of games, including baccarat (in its popular version known as chemin de fer), blackjack, craps, and poker. Some casinos also have video slots and other electronic games. In the United States, more than 1,000 commercial and hundreds of tribal casinos offer casino gaming.
The casinos make their money by taking a percentage of all bets made on the games. This is sometimes referred to as the house edge, and it is mathematically determined for each game by its designers. The advantage is small – less than two percent on average – but it adds up over the millions of bets placed each year. In addition, the casinos take a small fee from each hand of poker played in their card rooms and from each spin of a video poker machine.
Some casinos give out free goods and services to good players, a practice called comping. These can include hotel rooms, free meals, tickets to shows and even limo service and airline tickets. Some of these freebies are given to players based on the amount they spend, while others are awarded to high rollers or those who play the most games.
Despite the fact that casino games are designed to be games of chance, some patrons try to manipulate the system and cheat. That is why casinos invest a huge amount of time, energy and money in security. Cameras are placed everywhere on the casino floor and are monitored by security staff in a room filled with banks of security monitors.
Casinos are a major source of employment and income for cities and towns. In Las Vegas alone, casinos bring in more than $20 billion per year. Some people argue that casinos are harmful to the local economy and hurt property values. However, other arguments say that the industry creates jobs and brings in visitors who spend money on hotels, restaurants and other attractions. Many cities and towns have legalized casinos, though some are limiting the number of casinos in their areas. This is a result of growing competition among casinos and other gaming establishments, and increased concerns about the addiction to gambling.