Beneath flashing lights, free cocktails, and glitzy table games, casinos stand on a bedrock of mathematics, engineered to slowly bleed their patrons of their hard-earned cash. For years mathematically inclined minds have attempted to turn the tables, using probability and game theory to exploit weaknesses in a system that many consider rigged.
The economic mainstay of the modern casino is derived from gambling, which generates revenue from bettors who risk money on various outcomes of a game of chance. In addition to traditional table games, such as blackjack, roulette, and craps, modern casinos also feature an array of slot machines and video poker. These machines have become a major source of income for casinos, generating high volumes of play with bets ranging from five cents to a dollar or more.
A casino may be operated by a government, an association of individuals, or a private business. The precise origin of gambling is difficult to pinpoint, but it is generally believed that it has existed in some form for millennia. There is archaeological evidence of dice-based games dating back to 2300 BC, and playing cards became popular in the 1400s. Today, casinos offer a wide range of games and services to attract and retain customers, such as restaurants, hotels, nightclubs, and entertainment shows. Many casinos also operate on cruise ships and in military installations. A casino is sometimes called a cabaret or a gaming house. In Italian, it is known as a casin