A casino is a place that offers gambling services. Its games, such as slot machines, blackjack, roulette, craps and keno, generate billions of dollars in profits each year for the corporations, investors and Native American tribes that own and operate them. They also rake in millions of dollars in taxes, fees and other payments to state and local governments. Casinos are designed to encourage patrons to gamble by promoting the entertainment value of their games and offering perks such as free drinks and hotel stays.
Beneath the flashing lights and complimentary beverages, casinos are engineered to slowly bleed their patrons of cash. But despite the odds, some mathematically inclined minds have found ways to beat the house.
The most well-known casino is in Monte Carlo, Monaco. But they can be found in a number of exotic locales, including Venice and Singapore. The most popular casino game is the slot machine, followed by table games and then sports/racing betting. According to a survey by Gemini Research in March 2002, 50 percent of respondents who admitted to participating in casino gambling said they preferred slot machines. Card games, like blackjack and poker, were a close second. Craps, baccarat and gambling on sporting/racing events each garnered less than 10 percent of the vote.
While the dazzling lights, towering pyramids and replicas of famous landmarks help draw customers in, a casino would not exist without games of chance. The underlying mathematical advantage built into each of them — usually no more than two percent, but enough to cover the costs of running the games, building hotels, shopping centers and other amenities — provides the revenue that allows casinos to offer their gamblers the luxuries they enjoy.