The Dark Side of the Casino Industry

A casino is a place where people go to play games of chance for money. They also serve as entertainment centers for those who like to gamble and watch shows. Casinos often have restaurants, shopping centers and luxury hotels. People visit casinos to try their luck at slot machines, blackjack, roulette and other games. They also give away free drinks and food. The profits from gambling help casinos stay in business. This article explains how casinos make their money, the history of casinos and some of the most popular games. It also discusses how casinos keep their profits and the dark side of the gambling industry.

Casinos are a huge business that draw in millions of visitors each year. In the United States, 51 million people visited a casino in 2002. That is the equivalent of roughly one quarter of all Americans over age 21. It is estimated that the total amount of money wagered at casinos in that same year was more than $28 billion.

Despite the glamour of lighted fountains, musical shows and exotic settings, casinos are essentially engineered to slowly bleed their patrons of cash. They offer a variety of games that require skill, but their basic mathematical structure is designed to ensure that the house always wins. This design is called a house edge. Casinos employ mathematicians and computer programmers to analyze their house edges and variance, so they can be confident of the amounts they will earn each day. These are known as gaming mathematicians and gaming analysts.

The average casino customer spends a lot of time at the tables and slots, so they must be rewarded. These perks are known as comps. They can include free meals, hotel rooms, show tickets and even limo service and airline tickets. They are based on the amount of money the customer spends and how long they play. Typically, the more money a player spends and the longer they play, the better their comps.

As the popularity of casino games rose, organized crime figures began to take an interest in them as well. Many mob members funded casinos and took sole or partial ownership of some. Others used them to launder money earned from illegal rackets such as extortion, drug dealing and other illegal activities. In addition, mobster money helped casino owners purchase the latest technology to attract gamblers.

The casino industry is constantly changing and evolving. New casinos open and close all the time, and some of them become megaresorts. They are massive in size and feature everything from top-notch restaurants to world-class spas. Many of them also have large swimming pools and dazzling water shows. Moreover, some of them have been built over a century ago, such as the Hippodrome Casino in London, which opened in 1900 and is still in operation. The biggest modern casino is probably the City of Dreams in Macau. It has more than 300,000 square feet of floor space and contains a multitude of slot machines and table games.