A casino is a gambling establishment that houses games of chance. It may add other attractions to draw in patrons, such as restaurants, shows, shopping centers and hotels, but the bulk of a casino’s profits comes from its gambling activities. The modern casino is often a lavish affair, with opulent décor and carefully designed lighting to create the right mood. The goal is to keep patrons happy and feeling like they’re having a special experience.
The casinos’ business model ensures the house always wins, but it is not charitable and does not throw money away. The advantage of each game is mathematically determined, and it is called the “house edge.” Casinos also rake in revenues from table games and video poker machines by charging a small percentage of each bet, called the vig.
Casinos have historically attracted organized crime figures, who used them as fronts for their extortion, drug trafficking and other illegal operations. Mob money kept the Las Vegas casinos afloat in the 1950s, but federal crackdowns and the fear of losing their gambling license at the slightest hint of mob involvement drove them to clean up their acts. Real estate investors and hotel chains soon realized they could make more money by running casinos without the Mafia’s interference, and they bought out the gangsters.
In addition to security through cameras and personnel, casinos rely on technology to protect the integrity of their games. For example, roulette wheels are electronically monitored for a statistical deviation that would indicate cheating; and chips have microcircuitry built in to allow them to be tracked minute-by-minute, and warn the casino of any tampering or other anomalies.