A casino (also known as a gambling house or a gaming establishment) is an establishment where people can gamble. Casinos offer various forms of gambling, including slot machines, table games, and card games like poker, craps, and roulette. Some casinos also host live entertainment such as stand-up comedy and concerts. Some casinos are located in or near hotels, restaurants, shopping centers, and other tourist attractions, while others are standalone facilities with a specific focus on gambling.
Most casino games involve some degree of skill, but many depend solely on chance. Some, such as blackjack and the game of chance known as roulette, have mathematically determined odds that guarantee the house an edge over players, regardless of their skill level. The house advantage of these games can be calculated using the concept of expected value or, more precisely, the house’s “expected return to player” (ERP). Casinos earn money from these games by taking a commission or rake from each bet, or by charging an hourly fee for tables.
Although musical shows, lighted fountains and lavish hotels draw in the crowds, casinos would not exist without games of chance that generate billions in profits every year. Slots, blackjack, baccarat, poker, dice games, and other casino games provide the fun and excitement that attract the most visitors and keep them coming back for more.
Despite their seamy image, casinos are serious businesses that require substantial capital. As the number of American casinos grew in the 1950s, owners sought funding from organized crime figures. Mob money brought the requisite cash to Reno and Las Vegas, but it also introduced a darker element to the industry. Mobster leaders became personally involved in the running of the casinos and even took sole or partial ownership of some.
In addition to making money from gambling, casinos also provide jobs and other economic benefits. According to the National Gambling Impact Study, in 2005, the average American spent about $3,000 per visit to a casino. However, some critics argue that casinos do not necessarily benefit the community at large. In particular, they can divert local spending from other sources of entertainment and may increase problems with addiction and family violence.
The security staff in a casino is tasked with keeping the patrons safe from each other as well as from any other threats, such as robbery or cheating. The casino floor is patrolled by security officers who look for blatant acts of fraud or theft, as well as more subtle occurrences such as tampering with cards or the throwing of dice. Security also monitors table games from overhead cameras and watches for any suspicious betting patterns. These casino security employees are referred to as pit bosses or table managers. They are often highly trained in their jobs, with a background in policing, law enforcement, or military service. They are often tracked by a manager, who is responsible for their performance. This can be done in person or remotely using video surveillance.