A casino, also known as a gaming hall or a gambling establishment, is an enclosed facility where people can gamble on games of chance or skill. In the United States, casinos are licensed and regulated by state governments. Casinos are often located in or near hotels and resorts, and serve as destinations for tourism and business. Most states have laws regulating the types of gambling offered, the minimum age for entry, and the maximum amount of money that may be won.
Despite the flashing lights, free cocktails and blaring entertainment, casinos are built on a bedrock of mathematics, engineered to slowly bleed patrons of their cash. For years, mathematically inclined minds have tried to turn the tables by using probability and game theory to beat the house edge.
However, the odds are still heavily stacked against most players. Most games have a built-in advantage, known as the house edge, which ensures that over time, the casino will make a profit. This advantage varies by game, but the majority of games have a house edge that is in excess of 1 percent.
To mitigate this, many casinos have implemented various technological tools to keep the games honest and fair. For example, in some cases, betting chips have microcircuitry that enables them to be tracked minute by minute; roulette wheels are electronically monitored to discover any statistical deviations from their expected results; and video cameras record the entire table for playback later on.