A casino is a place where people can wager money on various games of chance. The games include table games like blackjack and roulette, as well as slot machines and poker rooms. Often casinos also offer restaurants, theaters, free drinks and other luxuries to attract players. Some places are designed to mimic exotic locales, such as Venice, Monaco or Singapore.
In addition to the games themselves, most casinos have sophisticated security measures in place to deter both cheating and theft. Both patrons and staff may be tempted to commit these crimes, either in collusion or independently, given the large amounts of money handled within. Security cameras located throughout the casino help prevent these incidents.
Because most casino games have some element of skill, the house always has a mathematical expectancy of winning, or expected value, and is therefore able to make a profit. This advantage, which can be a very small percentage of total bets, is known as the house edge. The house edge is less obvious in games such as baccarat and chemin de fer, where the player has an even chance of winning. The house earns its profit in these games by taking a percentage of the money wagered, or a rake, from each hand.
When the mob dominated gambling in Nevada during the 1950s, legitimate businessmen were reluctant to invest their capital in such ventures because of the taint of mob involvement and the industry’s seamy image. Nevertheless, real estate investors and hotel chains eventually saw the potential profits of casinos. These companies bought out the mob and began operating their casinos without mob interference. Federal crackdowns on organized crime and the risk of losing a gaming license at the slightest hint of mafia influence have kept the mob out of many casinos since that time.