The word casino evokes images of glitz and glamour, and casinos are a key feature in many movies and shows. They are also a major source of income in cities like Las Vegas, where more than 15,000 miles of neon tubing brighten the strip. But even more than the money, casinos are known for their atmospheres, and a casino’s success depends on more than just gaming machines.
Gambling has been part of human culture for millennia, with the first evidence of dice games coming from 2300 BC China, and card games from 500 AD. But until Nevada legalized casino gambling in 1931, most states banned the activity, and it took another forty-five years before another state allowed it.
Modern casinos are designed to maximize profitability by providing stimulating environments and offering perks intended to attract gamblers and keep them gambling, and thereby increasing their revenue. For example, they are often very bright and feature music to enliven the environment, and many offer complimentary drinks, free show tickets, or discounted travel packages.
They also employ mathematicians whose job it is to analyze the house edge and variance of each game, so that they can maximize their profits by adjusting machine payouts accordingly. These experts are referred to as Gaming Mathematicians or Gaming Analysts. They may be hired by the individual casinos, or they may work for consulting firms that advise the industry. In the United States, a casino’s gambling operations are regulated by state law, and it is illegal to operate one without a license.