The Casino is a gambling establishment, a building where people gamble on various games of chance. Casinos typically have numerous slots and felt tables with a variety of gambling games. They also offer other activities like shows and restaurants. The Casino is a popular destination for tourists and locals alike.
While gambling may predate recorded history, the concept of a casino as a place to find multiple ways to gamble under one roof did not emerge until the 16th century. Prior to that, Italian aristocrats met for private parties in places called ridotti [Source: Schwartz]. The emergence of the Casino coincided with a gambling craze throughout Europe. This fueled the development of many of today’s most popular casino games, including baccarat, chemin de fer, blackjack and trente et quarante.
Every casino game has a built in statistical advantage for the house, which is known as the “house edge.” This is how casinos make money and ensure they will not lose any bets. The house edge can be very small, lower than two percent, but the millions of bets placed by patrons over time can earn a casino billions. This is how the Casino can afford to put out flamboyant fountains, towers, pyramids and replicas of famous landmarks.
Casinos regularly offer big bettors extravagant inducements in the form of free spectacular entertainment, transportation and elegant living quarters. In addition, they often give comps to their regular players. A “comp” is a free good or service given to a casino player for playing a certain amount of time or at a specific level of play. These rewards may include free hotel rooms, meals, tickets to shows or even airline and limo service.