A casino is a large gambling establishment with a wide variety of games, including slot machines, blackjack and roulette. Many casinos also offer non-gambling entertainment, such as live music, shows and restaurants. They may also have hotel accommodations, retail centers and other amenities. The largest casinos in the world are based in the United States and China.
Casinos make money by imposing an advantage on all the bets placed by patrons. This edge can be as low as two percent, but over millions of bets, it adds up. This “vig” or “rake” helps casinos afford extravagant hotel towers, fountains, pyramids and replicas of famous landmarks.
Gambling is a popular pastime that has roots in ancient Mesopotamia, Rome and Greece. Its precise origin is unknown, but it is believed that most societies have at least some form of gaming. Modern casinos are elaborate facilities that draw in visitors with a combination of lavish decor, dazzling displays and countless games of chance. But despite their glamorous façades, they are businesses that depend on the luck of the gamblers to turn a profit.
As a result, they have strict security measures to deter both patrons and employees from cheating or stealing. In addition to the standard security cameras, some casinos use high-tech surveillance systems to create an “eye-in-the-sky.” For example, electronic monitoring allows a casino to oversee betting chips with built-in microcircuitry minute by minute, alerting staff to any statistical deviations; roulette wheels are monitored electronically to identify any crooked spins.
In the past, organized crime figures supplied much of the capital for casinos. But once legitimate businessmen realized the potential profits from casinos, they invested their own funds and bought out the mob. Today, the most lucrative casinos are owned by hotel chains and real estate investors, not mafia families. And federal crackdowns and the threat of losing a license at even the slightest hint of Mafia involvement keep mobster cash away from the tables.
From the elegant spa town of Baden-Baden to the Las Vegas Strip, the world’s top casinos offer more than just gambling. Read on to learn about the history behind these mega-resorts, their most popular games, how they stay safe and the dark side of the business.