A casino is a facility that houses a variety of games of chance and gambling activities. While a casino’s stage shows, restaurants and other amenities help lure patrons in, the bulk of its profits come from gambling, specifically slot machines, blackjack, craps, roulette and keno.
In addition to requiring strict game rules and limiting the amount of money that can be lost or won at each table, casinos also have stringent security measures in place. Employees constantly watch the floor, looking for blatant cheating such as palming, marking or switching cards and dice. In addition, all tables have a “higher-up” person keeping track of the players’ betting patterns to make sure none are stealing or taking advantage of system flaws, such as counting cards or following a particular shuffle pattern.
While the mob was once a major player in the casino industry, with the advent of legalized sports and horse racing, legitimate businessmen with deeper pockets began buying out and running casinos. Today, some of the most well-known casinos in the world are owned by real estate investors and hotel chains. Because of their deep pockets, these businesses have fewer problems with mob interference and can avoid federal crackdowns.
While casinos provide a huge economic boost to their owners, some research suggests that the overall value of a casino to a community is negative, due to the costs of treating problem gamblers and lost productivity from their addiction. Additionally, studies suggest that casinos can harm property values in nearby neighborhoods.
