A casino is an establishment that offers chances to win money by playing games of chance or skill, in exchange for a monetary stake. Successful casinos rake in billions of dollars each year for the companies, investors, Native American tribes and state and local governments that own and operate them.
Beneath the varnish of flashing lights and free cocktails, casinos stand on a bedrock of mathematics, engineered to slowly bleed their patrons of cash. Physicists have tried to use their expertise in probability and game theory to turn the tables on this rigged system, but for the most part, it is mathematically impossible to beat the house.
To maximize profits, a casino must attract gamblers, keep them there longer and encourage them to wager more money on each visit. To this end, many casinos offer special rooms devoted to high-stakes gambling and provide high rollers with a host of perks, including luxury suites, exclusive restaurants and personal attention.
In order to make the most of their facilities and attract customers, casinos must invest in a range of technologies designed to increase security, monitor player activity and automate many gaming processes. In addition to the usual electronic surveillance, casinos now employ microcircuitry in betting chips that allow them to track and record wagers minute-by-minute; roulette wheels are electronically monitored to discover any statistical deviation from expected results; and a range of other technology allows for better management of players’ risk exposure.