The Casino Business
Modern casinos are like indoor amusement parks for adults, with musical shows, lighted fountains and luxurious hotels. But they wouldn’t exist without gambling, which brings in billions of dollars in profits each year. This article takes a look at the history of casinos, the games they offer and how they make money.
Unlike home games of poker or roulette, where players gamble against each other, casino games have a fixed mathematical advantage for the house. This advantage, called the “house edge,” is the difference between the odds of winning and losing a game, and it is the source of most casinos’ income. Craps and blackjack are popular casino table games, while slots and video poker machines generate the majority of American casinos’ revenue.
Casinos are also choosy about who they let gamble, with special rooms for high rollers that feature games of higher stakes. These gamblers, who often spend tens of thousands of dollars in a day at the tables and slot machines, are rewarded with free hotel rooms, gourmet meals and other perks known as comps.
Security is another important consideration for a casino, and it starts on the floor. The games are monitored by specialized personnel who keep an eye out for blatant cheating and other suspicious activity. Some casinos also have catwalks in their ceilings, which allow security to look directly down, through one-way glass, at the gambling activities below. Many casinos also employ an array of other electronic security measures, including cameras and infrared scanners.
Modern casinos are like indoor amusement parks for adults, with musical shows, lighted fountains and luxurious hotels. But they wouldn’t exist without gambling, which brings in billions of dollars in profits each year. This article takes a look at the history of casinos, the games they offer and how they make money. Unlike home games…