A casino is a gambling house that offers multiple games of chance. These games include slot machines, blackjack, baccarat and roulette. The games of chance are what bring in the billions of dollars in profits that casinos rake in annually.
A modern casino is like an indoor amusement park for adults, but most of the profit is made from games of chance. The casino industry is growing rapidly, and more people are visiting casinos than ever before. In this article we’ll take a look at how casinos make money, some history behind some of the most popular casino games and the dark side of the business.
While gambling has been around for as long as civilization has, the idea of a casino as a place to find a variety of games under one roof did not develop until the 16th century. At that time a gambling craze was sweeping Europe, and wealthy Italians would meet in private clubhouses called ridotti to gamble. Unlike today’s large public casinos, these ridotti were not bothered by the police and enjoyed enormous popularity.
While casinos have a high-roller clientele, they also draw regular patrons with much lower incomes. Those patrons, however, often generate a disproportionate share of the profits. Some studies have shown that compulsive gamblers contribute 25 percent of a casino’s profits, even though they may only account for five percent of the total patrons. Other studies show that casino revenue shifts spending from other local entertainment and may cost the community more than it gains.