A casino, by definition, is a gambling establishment that offers patrons a wide variety of games of chance, along with restaurants and free drinks. Some casinos also feature stage shows and dramatic scenery. Historically, casinos have been somewhat seedy, with a reputation for being home to crooks and losers. In fact, a lot of legitimate businessmen were hesitant to invest in them. That changed in the 1950s, when mobster money flowed into Nevada. The mobsters didn’t just bankroll these new establishments; they got personally involved, often taking sole or partial ownership of them and using their vast criminal resources to influence the outcome of various games.
The most popular casino game is the slot machine, and casinos earn a significant percentage of their profits from it. Players put in a coin, pull a lever or push a button and watch as varying bands of colored shapes roll on reels (either actual physical reels or a video representation of them). When the right pattern appears, the player wins a predetermined amount of money. Most slot machines have a built in advantage for the casino, which is mathematically determined and uniformly negative (from the player’s perspective). This is known as the house edge or vig.
Some casinos offer more sophisticated games that involve skill or strategy, such as blackjack and baccarat. These games can be played against other players or against the dealer. In some cases, the house takes a commission from winning players, which is known as the rake. Because so much money changes hands within a casino, there is always the possibility of cheating or theft. This is why casinos devote a great deal of time and money to security.