A casino is a gambling establishment offering games of chance and, in some cases, skill. Customers gamble money on these games of chance, which have mathematically determined odds that are designed to ensure the house always wins (the expected value is uniformly negative from the player’s perspective). The casino makes its profit by taking a commission, known as the “rake,” from the winning players.
Casinos are a major source of revenue for many countries and are a staple in the tourism industry. They are often located in resorts or major cities, and attract a wide variety of patrons from around the world. The casinos are also a popular attraction for high rollers, who spend large amounts of money on gambling, dining and entertainment.
Gambling has been a part of human society for millennia. The earliest evidence dates back to 2300 BC China, where archaeologists found wooden blocks used in chance games. Dice came into use about 500 AD and playing cards became commonplace in Europe after 1400. Baccarat is the main gambling game in European continental casinos, while blackjack and trente et quarante are commonplace in American casinos.
As the Las Vegas Strip grew in popularity in the 1950s, owners sought funds to expand and renovate their properties. Because of gambling’s seamy reputation and legal prohibition in most states, legitimate businessmen were reluctant to invest. This opened the doors for organized crime, which moved into Nevada with its own funds, taking sole or partial ownership of casinos and even employing mobsters to supervise operations.