A casino (also known as a gambling house or a casino hotel) is a place where people can gamble. It also features a range of other entertainment options, such as stage shows and dramatic scenery. It can be found in many countries and is popular with tourists.
Although a variety of factors determines the outcome of a game, in most cases the house has a mathematical advantage over players. This advantage, which is built into the rules of each game, is called the house edge. Casinos make billions of dollars from these games every year.
Because of the large amounts of money handled, casinos are a magnet for cheaters and thieves, whether in collusion or acting independently. Consequently, casinos spend a lot of time, effort and money on security measures. The most basic measure is a network of cameras that monitor the casino floor and its patrons.
In addition to cameras, casinos use sophisticated technology to supervise the games themselves. For example, chips with built-in microcircuitry interact with electronic systems to enable casinos to oversee the exact amount wagered minute by minute and be warned of any anomaly; roulette wheels are electronically monitored regularly to discover statistical deviations from expected results. And slot machines are programmed to pay out a certain percentage of winnings to attract bettors and keep them returning for more play.
In the early days of Las Vegas, casinos were bankrolled by Mafia gangsters, who had plenty of cash from drug dealing and other illegal rackets. But as the business expanded and federal crackdowns eliminated mob ties, legitimate businesses, such as real estate investors and hotel chains, became involved.