A casino is a place where patrons pay money to play games of chance and, in some cases, skill. Many casinos offer complimentary items to gamblers as well. The casinos make profits by taking a small percentage of the total bets, known as the house edge or vigorish. This advantage can vary based on the game rules, the number of decks of cards used and the payouts set for video poker or slot machines. The advantage can be less than two percent in some games, but the large volume of betting and the fact that most bets are placed by people who have not been trained to calculate probabilities allows the casinos to generate enough income to build elaborate hotels, fountains and even replicas of ancient pyramids and towers.
Something about gambling seems to encourage people to cheat or steal, either in collusion with fellow patrons or on their own. That’s why casinos spend a large amount of money on security. Elaborate surveillance systems have cameras in every room that can be adjusted to focus on suspicious patrons. The cameras are connected to computers that keep track of the bets made and can alert security personnel to any unusual activity. Some casinos also employ pit bosses and table managers who have a broader view of the action to spot blatant cheating, such as palming or marking cards, or unusual betting patterns that might indicate collusion.
In addition to security, the casinos rely on customer service and promotions to boost revenues. Most of them offer “comps,” or free items, to gamblers, including free hotel rooms, meals and show tickets. They also provide gambling coupons that can be exchanged for cash, and they have frequent-flyer programs to track the spending habits of their patrons.
Despite the high stakes involved, casinos are popular with a wide range of people. In a survey of Nevada citizens conducted by Gemini Research, those who admitted to gambling at least once a month chose slot machines as their favorite casino games. A close second was blackjack, followed by poker, keno and bingo. Table games, such as roulette and craps, and gambling on sporting/racing events were far less popular.
Casinos are also popular tourist attractions, with some located in exotic locales, such as Venice, Monaco and Singapore. Others, such as those in Las Vegas and Atlantic City, are famous for their architecture, entertainment venues and high-end shopping. And then there are the glitzy casinos like the Bellagio, which has become synonymous with Las Vegas and was immortalized in the movie Ocean’s 11. With its iconic dancing fountains, luxurious rooms and high-end dining options, it is one of the most expensive and impressive casinos in the world. Its opulence and sophistication have made it a magnet for high-rollers and celebrities. In its early days, it was a playground for European royalty and the aristocracy.