A casino is an establishment for certain types of gambling. These include card games like baccarat, chemin de fer and blackjack; table games such as roulette, baccarat and poker; and slot machines. Casinos are often combined with hotels, restaurants, retail shops and other tourist attractions. Some casinos also host live entertainment events such as stand-up comedy, concerts and sports matches.
During the 1950s, when Nevada’s tourism industry was growing rapidly, local businessmen had trouble raising funds to build casinos because of their seamy reputation. Consequently, organized crime figures stepped in to finance Las Vegas and Reno. In many cases, they bought sole or partial ownership of the casinos and controlled their operations. Some even attempted to rig the outcomes of some games.
Most casino games have a built in mathematical advantage for the house. This advantage can be relatively small, but it allows casinos to earn substantial profits over the long term. This profit is known as the house edge, vig or rake, and it can be found in games of chance as well as in those that involve skill, such as poker and blackjack.
Casinos make money by taking a percentage of the bets placed by patrons. They can do this by charging a flat fee on each bet, or by requiring players to buy chips that can then be exchanged for cash. In addition, some casinos offer free merchandise or services to their high-volume customers, called comps. These can include free hotel rooms, meals, tickets to shows and reduced-fare transportation.