A casino is like an indoor amusement park for adults, with the vast majority of its entertainment (and profits) coming from gambling. While musical shows, lighted fountains, shopping centers and lavish hotels help draw the crowds, casinos would not exist without games of chance. Slot machines, blackjack, roulette, craps, baccarat and more are the reason for the billions of dollars in profits raked in by casinos each year.
In the past, casinos relied on deeply discounted travel packages and cheap buffets to lure gamblers away from their home states. Now, they have gotten more choosy in their investments, focusing on high rollers who spend thousands of dollars each visit. In return, they get free hotel rooms, limo service and even airline tickets.
Casinos make their money by providing a mathematical advantage for the house in every game it offers. This advantage is usually less than two percent but it adds up over the millions of bets placed each year. It is also known as the vig or rake.
In the early days of the casino, it was common for mafia families to control the business. However, the mob was eventually defeated by deep pockets of real estate investors and hotel chains that realized how much they could make from this lucrative business. Today’s casinos are heavily regulated and employ high security. Some have catwalks in the ceiling above the casino floor that allow security personnel to look down through one way glass on the activities of every table and slot machine.
