A casino is a building or room in which various games of chance are played and gambling is the primary activity. A typical casino is very lavish, featuring stage shows, free drinks and expensive rooms, but even less-opulent places that house gambling activities would technically be considered casinos as well.
Casinos were once primarily mob-run enterprises, but the advent of big-time hotel and real estate investors with deep pockets led to the establishment of legally sanctioned casinos in the United States. Federal crackdowns on mob-linked casinos in the 1980s and ’90s also helped clean up the industry, allowing legal companies to run casinos without fear of losing their gaming licenses at even a hint of Mafia involvement.
Today, casinos are found all over the world. Some are located in exotic destinations like Venice, Monaco and Singapore while others are geared toward high rollers and feature elaborately designed gambling rooms. The reputation of a casino is usually judged on its size, design and luxury atmosphere, the number and variety of games offered and the payout percentage of each game.
It’s important to remember that casinos are businesses and, like any other business, the odds for each game work against a player. No matter how long a person gambles in a casino, it is very unlikely that they will come out ahead. The mathematical advantage that the casino has is called the house edge.