A casino is a gambling establishment offering a variety of games of chance. Some casinos also offer food and drink, and some even have a hotel. The word is derived from the Latin word for “house,” because in ancient times games of chance were usually held in private houses. Casinos are regulated by law to ensure honesty and fairness to patrons, and most have security measures in place to deter cheating and stealing.
Although casino gambling probably predates written history, the modern casino as a facility for gambling came into being in the 16th century during a period of intense gambling enthusiasm in Europe, with primitive protodice and carved knuckle bones found at archaeological sites [source: Schwartz]. In America, casinos began to develop in the 1940s, and Las Vegas is now the world’s largest gaming destination.
Casinos make money by charging a “vig,” or advantage, on bets placed by patrons. Various factors influence the house edge, including the payouts for different types of video poker and slot machines; the rules governing each game; and whether a table is manned by a dealer or an automated machine. In addition, casinos employ technology to oversee the games themselves: chips with built-in microcircuitry allow for instantaneous surveillance of bets made, while roulette wheels are electronically monitored to discover any statistical deviation from expected results. Casinos also use technology to prevent people from leaving their gambling area and wandering the premises. Despite these precautions, some gamblers become addicted to gambling, and studies show that the net economic effect of casinos on a community is negative, with locals spending less on other entertainment activities, and the costs associated with treatment for compulsive gamblers reversing any benefits from casino revenues.