A casino is an entertainment complex with a wide variety of gambling games under one roof. It may be equipped with a dance floor, restaurants and other facilities for spectators. The term casino is a French word for a “gambling house.” This article explores the history of casinos, some of the popular games that they offer and how they make money.
While a modern casino often features musical shows, lighted fountains and elaborate hotels to draw in visitors, the vast majority of its profits are derived from gambling. Slot machines, blackjack, poker and roulette are the main attractions that earn the casinos billions of dollars each year. Each of these games has a built in statistical advantage for the casino that amounts to less than two percent of all bets placed.
Casinos have long attracted organized crime figures, who use the cash to fund their illegal rackets. In the 1960s and 1970s, mobster money flowed freely into Reno and Las Vegas. Mobster moguls became involved personally in the management of these casinos and took sole or partial ownership. The resulting reputation for corruption and the fear of losing a gaming license at the slightest hint of mafia involvement meant that legitimate businessmen were reluctant to take on Mafia-linked casinos.
In the twenty-first century, many casinos focus their investments on high rollers, or gamblers who spend a great deal of time and money playing their favorite games. These players receive comps, or free goods and services, such as hotel rooms, meals, show tickets and airline flights. A casino can also attract big bettors by offering special tables with higher minimum bets, or allowing them to play in private areas away from the main floor of the casino.