A casino, sometimes called a gaming palace or a gambling house, is a facility where various games of chance are played. Although casinos often include other types of entertainment, such as restaurants and theaters, they would not exist without the billions of dollars in profits raked in by game players who play slot machines, blackjack, roulette, poker, craps, keno and other games. This article will explore the history of casinos, how they make money, popular casino games and the dark side of the industry.
Unlike legitimate businessmen, who were hesitant to invest in a business with such a seamy image, organized crime figures saw the potential of gambling as a source of income and began funding casinos, either by lending them cash or taking sole or partial ownership. Mafia money gave casinos an added cachet and helped to overcome resistance to gambling. The result was a surge in casino development, especially in Nevada where the first major casinos opened during the 1950s.
Today, a casino is much more than a gambling hall; it is an entertainment complex that includes top-notch hotels, spas, restaurants and live entertainment venues. Some of the world’s most exclusive casinos, typified by images in film and literature of high-stakes gambling tables surrounded by a select group of gamblers dressed in tuxedos or evening gowns, draw visitors from around the globe.
The most famous of these is probably the opulent Monte-Carlo Casino, which opened in 1863 and has been a symbol of wealth and glamour ever since. Other notable casinos include the glitzy Las Vegas Strip and the elegant spa town of Baden-Baden in Germany.
In addition to the luxuries, modern casinos offer state-of-the-art security measures. Cameras monitor the entrances, hallways and casino floor; video screens display surveillance footage in the pits and at all table games; and computers control each slot machine and poker table and alert supervisors to any suspicious activity. Many casinos also use chip tracking technology, which uses microcircuitry in betting chips to link them to electronic systems that keep records of the exact amount wagered minute by minute and alert casino management to any discrepancy; and table-top computers that allow dealers to verify the accuracy of wagers.
Something about gambling encourages cheating and stealing; this is why casinos spend so much time and money on security. In addition to cameras and computers, casinos have strict rules of conduct and behavior for their patrons. For example, players are required to keep their hands visible at all times while playing card games.
Studies suggest that the typical casino gambler is a forty-six year old woman from a household with above average income, who spends two to three hours per day in a casino. Critics argue that the shift in spending from other local entertainment and the cost of treating problem gamblers offset any economic benefits a casino might bring to a community. Some studies even suggest that casinos have a negative impact on property values in surrounding neighborhoods.