The casino industry generates millions of dollars each year. Many factors contribute to that figure, from advertising and marketing investments to floor renovations and acquiring the latest gambling innovations. But what is the secret behind their success?
Casinos make money by giving patrons a predictable long-term disadvantage (the house edge) in return for the opportunity to make short-term gains that may exceed their original bets. Those who possess sufficient skills to eliminate the house edge in a particular casino game are called advantage players. The casinos employ mathematicians and computer programmers to perform analysis of house edge and variance for every game offered on their premises.
Among the top casinos, one can find table games such as blackjack and poker, slot machines in various styles, baccarat, and dice games. Moreover, these establishments also feature sports betting sections where patrons can place bets on their favorite teams and events.
Most modern casinos have a high level of technological surveillance and security. For example, the use of “chip tracking” allows the casinos to monitor bets placed minute by minute so that they are warned of any statistical deviation from expected results. In addition, roulette wheels are electronically monitored to discover any statistical anomalies.
