Modern casinos offer much more than just gambling: restaurants, shopping centers, dazzling lights, stage shows and even rides for the kids. But it’s the games of chance that draw in the crowds and provide the billions in profits to casino owners. Slot machines, blackjack, roulette and craps generate the lion’s share of revenue.
These games are all games of chance, with some having an element of skill. They are conducted by live croupiers or automated devices and have mathematically determined odds that result in a house advantage, which is sometimes called the expected value of a game. In addition, some games are a combination of chance and skill, such as poker or sports betting, in which the player competes against other players, not the casino.
To make the most of this profit potential, casinos have a host of strategies for keeping customers in their seats and spending money. For example, a common practice is to offer a variety of free beverages to customers, especially those playing slot machines or table games. This makes the gambler feel comfortable and happy, which helps keep their attention focused on the games. Casinos also often employ the use of a scent to make the casino smell good, which can trigger a positive response in gamblers.
While these techniques are important to casinos, they are not foolproof. In fact, there have been several cases of cheating at various casino games. Fortunately, modern technology can help prevent this. Casinos can monitor their operations using surveillance cameras and electronic systems. These can track bets minute by minute to detect any statistical deviations; they can also monitor roulette wheels for statistical anomalies. In addition, some casinos use “chip tracking,” in which each betting chip has a built-in microcircuit that interacts with the casino’s electronic systems.
In addition to these technologies, many casinos employ a physical security force and a specialized department for surveillance. The casino’s physical security force patrols the premises and responds to calls for assistance or reports of suspicious or definite criminal activity. The surveillance department is responsible for the casino’s closed circuit television system, which is known in the industry as the eye in the sky.
Gambling has been a part of human life for millennia, with evidence dating back to 2300 BC in China, when archeologists found dice and blocks for rolling and counting. But it was the 19th century when gambling became truly widespread in Europe, and the era of the modern casino began. Since then, casino profits have been soaring. Casinos are now a global industry.