A casino, also known as a gaming hall or a gambling house, is a place where people gamble by playing games of chance. Most casinos offer a variety of table games, such as blackjack and craps, and many have poker rooms where patrons can play against each other while the casino makes money by taking a commission, known as the vig or rake, on the winnings. Guests may also be able to wager on sporting events or horse races.
Most casino games have a built-in advantage for the house, which is mathematically determined and is known as the house edge. Some games have a skill element, and players who possess sufficient skills can eliminate the house edge or at least reduce it to a small margin. This is called advantage gambling and it is the basis of some of the most profitable operations in casinos.
In recent years, casino use of technology has increased dramatically. In addition to video cameras that oversee general security, computers are used to supervise the games themselves. For example, betting chips have built-in microcircuitry that interacts with electronic systems in the tables to enable casinos to monitor precisely how much is wagered minute by minute and be warned immediately of any anomalies; roulette wheels are electronically monitored regularly to discover quickly any statistical deviation from their expected results. Casinos employ people who specialize in this field, called gaming mathematicians and gaming analysts.
The largest casinos are palatial buildings designed to impress and indulge the rich and famous. They include hotel accommodations, Michelin star restaurants, designer shops, and top-billed entertainment shows such as high-flying circus acts or the latest musicians topping the Billboard charts. They are often located in major cities and draw visitors from all over the world.
Several cities claim to be the casino capital of the United States, but Las Vegas is probably the most well-known. Other major gaming centers include Atlantic City, New Jersey; and Chicago, Illinois. Many smaller towns have casino gambling, but they are usually not as large or as luxurious as the big-name casinos. In the United States, 40 states now have some form of legalized casino gambling. Some have large hotel/casinos with a wide variety of gaming choices, while others have smaller casinos that focus on specific types of gambling. In the latter case, the casinos are often operated by Indian tribes. In some cases, these tribes are sovereign nations and are free to operate their own casinos. In other cases, the casinos are run by private corporations. These companies may own the land on which the casinos are situated and lease it to the tribal government. In either case, the gaming revenue is a significant source of income for the tribal governments. This revenue is derived from both gaming and non-gaming sources, such as restaurant and retail sales. In some states, casino revenues are taxed at different rates.