A Casino is a place where people can gamble and play games of chance. It may sound like an exciting place to visit, but a lot of things have to go right for you to walk out with money in your pocket. This article will explain how casinos make money, the history of gambling in America, what are some popular casino games, how to stay safe while visiting a casino, and the dark side of casinos.
Before casinos became popular, organized crime mobs dominated the gambling industry. The gangsters brought in millions of dollars into Reno and Las Vegas with their drug dealing, extortion and other illegal rackets. Eventually, legitimate business men saw the potential of casinos and began to buy out the mobsters. Now, real estate investors and hotel chains are in control of many casinos and they’re careful not to get too close to the mafia because any hint of mob involvement can jeopardize their gaming license.
Most games in a casino have a built-in advantage that ensures the house will always win. This advantage is mathematically determined and it can be expressed as an expected value, which is uniformly negative for the player. To offset this edge, casinos offer players complimentary items, or comps, such as food, drinks, hotel rooms and show tickets. High rollers can even receive free vacations and limo service! Comps are based on the amount of time and money a patron spends at the casino.