The modern casino is like an indoor amusement park for adults. Lighted fountains, shopping centers and elaborate hotels draw in the crowds, but the billions of dollars in profits raked in by casinos every year are primarily the result of gambling. Games of chance like slot machines, blackjack, baccarat and craps provide the entertainment that drives people to casinos. While games of skill such as poker can also bring in substantial income, they typically have a built in long term disadvantage to the casino known as the house edge or vigorish. Those who possess skills that eliminate this advantage are referred to as advantage players.
In order to maintain their profits, casinos use a variety of security measures. These include a physical security force, as well as a specialized surveillance department that operates the casino’s closed circuit television system, known in the industry as “the eye in the sky”. Most casinos also employ chip tracking, which uses microcircuitry to monitor betting patterns and ensure that all chips are being placed at the correct spots.
Casinos are a major source of entertainment and tourism, and can be found around the world in cities such as Venice, Monaco, Singapore and Macao. However, they have been criticized for having a negative economic impact on their host cities due to the transfer of money from local residents to tourists, and to the costs associated with compulsive gambling. These costs include treatment of problem gambling and lost productivity by people who spend more time in casinos than they do working or taking care of their families.