What Is a Casino?
A casino is a place where people can play gambling games for money. Some casinos are combined with hotels, restaurants and other tourist attractions. Others are located in cities with little or no other entertainment options. The majority of casinos are run by private businesses, such as the Las Vegas Sands corporation or the Caesars Entertainment Corporation. A few casinos are operated by government agencies, such as the Société des Bains de Mer in Monaco or the Nevada Gaming Control Board.
The majority of casino profits come from slot machines and table games like blackjack, roulette, craps and baccarat. Other sources of revenue include ticket sales for concerts and other events, souvenirs, food and drinks, and hotel room rentals. Casinos also offer comps to gamblers, which are free or discounted items such as show tickets, meals and hotel rooms. During the 1970s, casinos in Las Vegas made a big push to get as many tourists into their buildings as possible by offering cheap travel packages and free or reduced-price buffets. This strategy was successful, and it helped increase casino revenues.
In the United States, there are around 3,000 legal casinos. Many of them are concentrated in the state of Nevada, which is home to Las Vegas and several other major gambling destinations. Many American Indian reservations also have casinos, as do some cruise ships and foreign countries such as Macau in China.
Most casino games are based on chance, although there are some that involve a degree of skill. The house edge, which is the casino’s built-in advantage over the players, can be small (less than two percent) but adds up over time from the millions of bets placed in a casino each year. The house edge is also referred to as the vig or rake, and it helps pay for casino amenities such as fountains, giant pyramids, towers and replicas of famous landmarks.
Casinos use a variety of methods to keep their patrons safe. Most have physical security forces that patrol the floors and respond to reports of suspicious or definite criminal activity. They also use specialized surveillance systems such as closed circuit television (CCTV) and “eye in the sky” cameras that can be aimed at specific tables, windows and doorways to monitor patrons and spot any cheating or other illegal activities.
While casinos have an image as glamorous and exciting places to visit, they are not without their dark side. Historically, they have attracted organized crime figures who saw them as a way to launder funds from illegal drug dealing and extortion activities. Eventually, real estate investors and hotel chains realized the potential for profit and bought out the mobster owners, taking over their casinos without the taint of mob involvement. Today, federal laws and the threat of losing a gambling license at the slightest hint of mob involvement keep organized crime out of the casino business altogether. Casinos also depend on high-profile patrons such as movie stars, sports figures and politicians to draw in customers.