Whether you prefer to spin the roulette wheel or bust your lucky ace at the poker table, few things beat the raw energy of a casino. And while most of these temples to temptation are built to please your gambling itch, most are loaded with plenty of other activities for the non-gambler.
Gambling almost certainly predates recorded history, with primitive proto-dice (cut knuckle bones) and carved six-sided dice found in archaeological digs [Source: Schwartz]. But the idea of the casino as a place to find a variety of ways to gamble under one roof didn’t emerge until the 16th century, during a gambling craze that swept across Europe and saw Italian aristocrats hold private parties at places known as ridotti.
Casinos are businesses that must ensure their profitability, and every game they offer has a built-in advantage that makes the house win. This advantage can be as low as two percent, but it adds up over time and the millions of bets placed by patrons. To keep their profits high, casinos offer big bettors lavish inducements like free spectacular entertainment, luxury transportation, hotel rooms and even reduced-fare restaurant and cigarette prices while they play.
When casino gambling first spread to America from European spa towns 150 years ago, mobsters were eager to provide the necessary funds for expansion and renovation, despite the seamy image of their illegal rackets. They took sole or partial ownership of many casinos and rigged the games with hidden weights and cameras. Today, sophisticated investment banks run most casinos. But that doesn’t mean that the days of mob money are behind us.