A casino, also known as a gaming hall or a gambling establishment, is a place where people can play games of chance for money. Traditionally, casinos have offered table games like blackjack and roulette, as well as slot machines and poker rooms. More recently, some have added luxury amenities such as restaurants, spas and live entertainment. The Bellagio in Las Vegas is perhaps the best-known casino in the world, having been featured in the movie Ocean’s 11. The hotel and casino are renowned for their elegance and sophistication, and attract high rollers from around the globe.
A number of factors determine a casino’s profitability. First and foremost, the house always wins. Every game has a built-in statistical advantage for the casino, which can be very small — less than two percent — but over millions of bets, that small edge adds up to large profits. These profits are derived from the vigorish, or rake, which the casino takes either from each bet or by charging an hourly fee to players for the use of their tables.
Another important factor is the ability to attract and retain patrons, which is why casinos invest in attractive decorations and amenities. They can be extremely extravagant, or more subdued and subtle, depending on the culture of the region in which they operate. For example, red is a common color for casino walls because it is thought to stimulate the senses and distract gamblers from their loss. Likewise, most casinos do not have clocks on the walls, as they are believed to encourage gamblers to lose track of time and spend more money.
Casinos also invest heavily in security. They have many ways of detecting cheating and other violations of their rules. For example, pit bosses and table managers have a wide view of the games and the patrons and can easily spot blatant behavior such as palming or marking cards or switching dice. Security cameras are everywhere and can be directed to watch specific patrons.
Until the 1950s, legitimate businessmen were wary of investing in casinos because of their seamy image and association with organized crime. But mafia members had plenty of cash from their drug dealing, extortion and other illegal rackets, and they were willing to invest it in Reno and Las Vegas. They took sole or partial ownership of many casinos, and even influenced the outcome of some games through intimidation of dealers.
Now that the mob’s power and influence have waned, real estate investors and hotel chains have invested in casinos, which they consider to be cash cows. Some of them have even become so large that they are called “casino cities.” For instance, Macau in East Asia is home to the spectacular Casino Lisboa. This is a massive complex with an enormous casino floor that boasts an incredible selection of table games, slot machines and poker rooms. The glitzy building is even crowned with a giant LED dome made of over one million LED lights.