adminbclA casino, also known as a gaming house or a gambling establishment, is an establishment where people can play games of chance for real money. Casinos can also be a place where people socialize with others, watch entertainment, and eat. They may be standalone facilities or part of hotels, resorts, restaurants, or cruise ships.
In the United States, casinos are regulated by state law. Almost all states allow casino gambling, although there are some that limit the type of gambling available, the number of casinos, and the age at which one can gamble.
Casinos make billions of dollars each year, bringing in profits for the companies, investors, and Native American tribes that own and operate them. In addition, they generate tax revenue for local and state governments. In the case of land-based casinos, customers gamble by playing games of chance or skill. Most games have mathematically determined odds that give the casino an advantage over the players. This advantage, which can be expressed as expected value or more precisely as the house edge, varies by game and by the rules and even the number of decks used. In some games, such as poker, the casino earns money by taking a commission from players called the rake.
In addition to the house edge, the profitability of a casino game depends on its variance (standard deviation from the mean). To maximize their profits, casinos use complex computer algorithms to track player behavior and develop betting systems. These programs are designed by mathematicians and computer programmers who specialize in the field of gaming analysis.
The most popular casino games are slot machines and card games, such as blackjack and poker. A survey by Gemini Research in March 2002 found that 50% of respondents who admitted to casino gambling preferred slot machines, while 20% chose table games like roulette and craps, and 6% chose sports/racing betting. The remaining 5% selected bingo and keno.
Most casinos offer a wide variety of games. Many of them are played on computerized terminals, but some are manned by live dealers. The games offered can include everything from classic table and card games to lottery-style games like baccarat. Most casinos also have a wide selection of other activities, such as restaurants, shows, and swimming pools. Many have hotel rooms as well. To attract customers, some are located in exciting destinations such as Las Vegas, Reno, and Atlantic City, while others are located in more quiet locales, such as rural areas and small towns. A large percentage of these are owned by Native American tribes and operated by their governments. Some are privately owned and operated by individuals or corporations. Some are open to the public; others are private clubs with membership fees and guest privileges. Casinos are a major source of employment in these places. Many have security forces and specialized departments to prevent crime.
