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49-447: A casino is a facility that houses and accommodates certain types of gambling activities. Casino may also refer to: Casino Casino is of Italian origin; the root casa means a house. The term casino may mean a small country villa , summerhouse , or social club . During the 19th century, casino came to include other public buildings where pleasurable activities took place; such edifices were usually built on

98-413: A constitutional monarchy . In military and non-military usage, a casino (Spanish) or Kasino (German) is an officers' mess . The precise origin of gambling is unknown. It is generally believed that gambling in some form or another has been seen in almost every society in history. From Ancient Mesopotamia , Greeks and Romans to Napoleon's France and Elizabethan England , much of history

147-1041: A Schleswig-Holstein licence. AWPs are governed by federal law – the Trade Regulation Act and the Gaming Ordinance. The Casino Estoril , located in the municipality of Cascais , on the Portuguese Riviera , near Lisbon , is the largest casino in Europe by capacity. During the World War II , it was reputed to be a gathering point for spies , dispossessed royals , and wartime adventurers; it became an inspiration for Ian Fleming 's James Bond 007 novel Casino Royale . There are four legal gaming zones in Russia: "Siberian Coin" (Altay), "Yantarnaya" (Kaliningrad region), "Azov-city" (Rostov region) and "Primorie" (Primorie region). Singapore

196-471: A commission, known as a " rake ". The luck factor in a casino game is quantified using standard deviations (SD). The standard deviation of a simple game like roulette can be calculated using the binomial distribution . In the binomial distribution, SD = n p q {\displaystyle {\sqrt {npq}}} , where n = number of rounds played, p = probability of winning, and q = probability of losing. The binomial distribution assumes

245-461: A higher house edge compared to European roulette. The chances of a player, who bets 1 unit on red, winning are 18/38 and his chances of losing 1 unit are 20/38. The player's expected value is EV = (18/38 × 1) + (20/38 × (−1)) = 18/38 − 20/38 = −2/38 = −5.26%. Therefore, the house edge is 5.26%. After 10 spins, betting 1 unit per spin, the average house profit will be 10 × 1 × 5.26% = 0.53 units. European roulette wheels have only one "zero" and therefore

294-488: A noisy environment; a gaming house is spelt casinò , with an accent . Not all casinos are used for gaming. The Catalina Casino , on Santa Catalina Island, California , has never been used for traditional games of chance, which were already outlawed in California by the time it was built. The Copenhagen Casino was a Danish theatre which also held public meetings during the 1848 Revolution , which made Denmark

343-534: A pleasant albeit unidentifiable odor released by Las Vegas slot machines generated about 50% more in daily revenue. He suggested that the scent acted as an aphrodisiac, causing a more aggressive form of gambling. The following lists major casino markets in the world with casino revenue of over US$ 1 billion as published in PricewaterhouseCoopers 's report on the outlook for the global casino market: According to Bloomberg , accumulated revenue of

392-461: A predictable long-term advantage to the casino, or "house", while offering the players the possibility of a short-term gain that in some cases can be large. Some casino games have a skill element, where the players' decisions have an impact on the results. Players possessing sufficient skills to eliminate the inherent long-term disadvantage (the house edge or vigorish ) in a casino game are referred to as advantage players . The players' disadvantage

441-520: A result of 1 unit for a win, and 0 units for a loss, rather than −1 units for a loss, which doubles the range of possible outcomes. Furthermore, if we flat bet at 10 units per round instead of 1 unit, the range of possible outcomes increases 10 fold. For example, after 10 rounds at 1 unit per round, the standard deviation will be 2 × 1 × 10 ∗ 18 / 38 ∗ 20 / 38 {\displaystyle {\sqrt {10*18/38*20/38}}} = 3.16 units. After 10 rounds,

490-827: A rise in the number of casinos outside of Las Vegas and Atlantic City. In Vietnam , the term "casinos" encompasses gambling activities within the country . Unofficially defined, a "casino" typically denotes a well-established and professional gambling establishment that is generally lawful but exclusively caters to foreign players. On the other hand, "gambling houses" or "gambling dens" are smaller, illicit gambling venues. As of 2022, Vietnam has 9 operating casinos, including: Đồ Sơn casino (Hải Phòng), Lợi Lai casino, Hoàng Gia casino ( Quảng Ninh ), Hồng Vận casino ( Quảng Ninh ), Lào Cai casino ( Lào Cai ), Silver Shores casino (Đà Nẵng), Hồ Tràm casino (Bà Rịa – Vũng Tàu), Nam Hội An casino (Quảng Nam), Phú Quốc casino in Kien Giang . In

539-547: A survey conducted by the Vietnamese Institute for Sustainable Regional Development and released on September 30, 2015, it was found that 71% of the respondents held the belief that allowing Vietnamese individuals to access casinos would result in an increase in the number of players. Furthermore, 47.4% of the participants expressed the view that engaging in rewarding recreational activities has a positive impact on job opportunities for residents. Additionally, 46.2% of

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588-472: A table or through the purchase of paper tickets or cards, such as keno or bingo . Some casino games combine multiple of the above aspects; for example, roulette is a table game conducted by a dealer, that involves random numbers. Casinos may also offer other types of gaming, such as hosting poker games or tournaments where players compete against each other. Games commonly found at casinos include table games, gaming machines and random number games. In

637-491: A time and do not require the involvement of casino employees. Tables games, such as blackjack or craps , involve one or more players who are competing against the house (the casino itself) rather than each other. Table games are usually conducted by casino employees known as croupiers or dealers. Random number games are based on the selection of random numbers, either from a computerized random number generator or from other gaming equipment. Random number games may be played at

686-421: Is a result of the casino not paying winning wagers according to the game's "true odds", which are the payouts that would be expected considering the odds of a wager either winning or losing. For example, if a game is played by wagering on the number that would result from the roll of one die, the true odds would be 6 times the amount wagered since there is a 1 in 6 chance of any single number appearing, assuming that

735-530: Is an up-and-coming destination for visitors wanting to gamble, although there are currently only two casinos (both foreign owned), in Singapore. The Marina Bay Sands is the second most expensive standalone casino in the world, at a price of US$ 6.8 billion, and is among the world's ten most expensive buildings . With currently over 1,000 casinos, the United States has the largest number of casinos in

784-554: Is based on real people and events; however, many of those events are contested by main character Semyon Dukach . Monte Carlo Casino has also been featured in multiple James Bond novels and films. The casino is mentioned in the song " The Man Who Broke the Bank at Monte Carlo " as well as the film of the same name . Casinò di Campione is located in the tiny Italian enclave of Campione d'Italia , within Ticino , Switzerland. The casino

833-413: Is different. Most casinos do not meet the requirements for certain protective measures, such as protection against airborne metal dusts from coins or hearing protection against high noise levels, though these measures are still implemented when evaluated and determined necessary. Casino game#House advantage Games available in most casinos are commonly called casino games . In a casino game,

882-696: Is filled with stories of entertainment based on games of chance. The first known European gambling house, not called a casino although meeting the modern definition, was the Ridotto , established in Venice , Italy, in 1638 by the Great Council of Venice to provide controlled gambling during the carnival season. It was closed in 1774 as the city government felt it was impoverishing the local gentry . In American history, early gambling establishments were known as saloons . The creation and importance of saloons

931-416: Is necessary to complete the task. In games that have a skill element, such as blackjack or Spanish 21 , the house edge is defined as the house advantage from optimal play (without the use of advanced techniques such as card counting ), on the first hand of the shoe (the container that holds the cards). The set of optimal plays for all possible hands is known as " basic strategy " and is highly dependent on

980-485: Is usually divided between a physical security force and a specialized surveillance department. The physical security force usually patrols the casino and responds to calls for assistance and reports of suspicious or definite criminal activity. A specialized surveillance department operates the casino's closed-circuit-television system, known in the industry as the eye in the sky . Both of these specialized casino security departments work very closely with each other to ensure

1029-422: Is why it is impossible for a gambler to win in the long term. It is the high ratio of short-term standard deviation to expected loss that fools gamblers into thinking that they can win. It is important for a casino to know both the house edge and variance for all of their games. The house edge tells them what kind of profit they will make as a percentage of turnover, and the variance tells them how much they need in

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1078-636: The American Mafia and in Macau by Triad syndicates . According to some police reports, local incidence of reported crime often doubles or triples within three years of a casino's opening. In a 2004 report by the US Department of Justice, researchers interviewed people who had been arrested in Las Vegas and Des Moines and found that the percentage of problem or pathological gamblers among

1127-617: The Massachusetts Institute of Technology , highlights the decision of the audio directors at Silicon Gaming to make its slot machines resonate in "the universally pleasant tone of C, sampling existing casino soundscapes to create a sound that would please but not clash". Alan Hirsch, founder of the Smell & Taste Treatment and Research Foundation in Chicago , studied the impact of certain scents on gamblers, discerning that

1176-980: The United States , 'table game' is the term used for games of chance such as blackjack , craps , roulette , and baccarat that are played against the casino and operated by one or more live croupiers , as opposed to those played on a mechanical device like a slot machine or against other players instead of the casino, such as standard poker . Table games are popularly played in casinos and involve some form of legal gambling , but they are also played privately under varying house rules. The term has significance in that some jurisdictions permit casinos to have only slots and no table games. In some states, this law has resulted in casinos employing electronic table games, such as roulette , blackjack , and craps . Table games found in casinos include: Gaming machines found in casinos include: Random numbers games found in casinos include: Casino games typically provide

1225-533: The UK, the Gambling Commission (GC) now requires that all RTP (Return to Player) values be clearly displayed for both online and land-based casino games. This regulation ensures greater transparency, giving players the information they need to make more informed choices about the games they play. In games where players are not competing against the house, such as poker , the casino usually earns money via

1274-483: The US's second largest gambling city. Most jurisdictions worldwide have a minimum gambling age of 18 to 21. Customers gamble by playing games of chance , in some cases with an element of skill, such as craps , roulette , baccarat , blackjack , and video poker . Most games have mathematically determined odds that ensure the house has at all times an advantage over the players. This can be expressed more precisely by

1323-453: The United States say that a player staking money won from the casino is "playing with the house's money". Video lottery machines ( slot machines ) have become one of the most popular forms of gambling in casinos. As of 2011 investigative reports have started calling into question whether the modern-day slot-machine is addictive. Factors influencing gambling tendencies include sound, odour and lighting. Natasha Dow Schüll, an anthropologist at

1372-405: The arrestees was three to five times higher than in the general population. It has been said that economic studies showing a positive relationship between casinos and crime usually fail to consider the visiting population: they count crimes committed by visitors but do not count visitors in the population measure, which overstates the crime rate. Part of the reason this methodology is used, despite

1421-452: The biggest casino operator companies worldwide amounted to almost US$ 55 billion in 2011. SJM Holdings Ltd. was the leading company in this field, earning $ 9.7 bn in 2011, followed by Las Vegas Sands Corp. at $ 7.4 bn. The third-biggest casino operator company (based on revenue) was Caesars Entertainment , with revenue of US$ 6.2 bn. While there are casinos in many places, a few places have become well known specifically for gambling. Perhaps

1470-642: The cards they are holding in their hands visible at all times. Over the past few decades, casinos have developed many different marketing techniques for attracting and maintaining loyal patrons. Many casinos use a loyalty rewards program used to track players' spending habits and target their patrons more effectively, by sending mailings with free slot play and other promotions. Casino Helsinki in Helsinki , Finland, for example, donates all of its profits to charity. Casinos have been linked to organised crime , with early casinos in Las Vegas originally dominated by

1519-406: The expected loss will be 10 × 1 × 5.26% = 0.53. As you can see, standard deviation is many times the magnitude of the expected loss. The standard deviation for pai gow poker is the lowest out of all common casino games. Many casino games, particularly slot machines, have extremely high standard deviations. The bigger size of the potential payouts, the more the standard deviation may increase. As

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1568-589: The grounds of a larger Italian villa or palazzo , and were used to host civic town functions, including dancing, gambling, music listening, and sports. Examples in Italy include Villa Farnese and Villa Giulia , and in the US the Newport Casino in Newport, Rhode Island . In modern-day Italian, a casino is a brothel (also called casa chiusa , literally "closed house"), a mess (confusing situation), or

1617-633: The historic casino located at the princely residence of Dragonara . Dragonara Palace was built in 1870. Its name comes from the Dragonara Point, the peninsula where it is built. On 15 July 1964, the palace opened as a casino. The former Portuguese colony of Macau , a special administrative region of the People's Republic of China since 1999, is a popular destination for visitors who wish to gamble. This started in Portuguese times, when Macau

1666-430: The house advantage (ignoring the en prison rule) is equal to 1/37 = 2.7%. The house edge of casino games varies greatly with the game, with some games having an edge as low as 0.3%. Keno can have house edges of up to 25%, slot machines having up to 15%. The calculation of the roulette house edge is a trivial exercise; for other games, this is not usually the case. Combinatorial analysis and/or computer simulation

1715-403: The imposition of taxes, or obtaining of other revenue. In 2007, the casino moved into new premises of more than 55,000 square metres (590,000 sq ft), making it the largest casino in Europe. The new casino was built alongside the old one, which dated from 1933 and has since been demolished. The archipelago of Malta is a particularly famous place for casinos, standing out mainly with

1764-438: The largest concentration of casinos in the United States. Based on revenue, Atlantic City, New Jersey , ranks second, and the Chicago region third. Top American casino markets by revenue (2022 annual revenues): The Nevada Gaming Control Board divides Clark County , which is coextensive with the Las Vegas metropolitan area, into seven market regions for reporting purposes. Native American gaming has been responsible for

1813-405: The notion of expected value , which is uniformly negative (from the player's perspective). This advantage is called the house edge . In games such as poker where players play against each other, the house takes a commission called the rake . Casinos sometimes give out complimentary items or comps to gamblers. Payout is the percentage of funds ("winnings") returned to players. Casinos in

1862-401: The number of rounds increases, eventually, the expected loss will exceed the standard deviation, many times over. From the formula, we can see that the standard deviation is proportional to the square root of the number of rounds played, while the expected loss is proportional to the number of rounds played. As the number of rounds increases, the expected loss increases at a much faster rate. This

1911-450: The overstatement, is that reliable data on tourist count are often not available. Casinos are subject to specific regulations for worker safety, as casino employees are both at greater risk for cancers resulting from exposure to second-hand tobacco smoke and musculoskeletal injuries from repetitive motions while running table games over many hours. These are not the extent of the hazards casino workers may be exposed to, but every location

1960-536: The place almost defined by its casino is Monte Carlo, but other places are known as gambling centers. Monte Carlo Casino , located in Monte Carlo city, in Monaco , is a casino and a tourist attraction. Monte Carlo Casino has been depicted in many books, including Ben Mezrich 's Busting Vegas , where a group of Massachusetts Institute of Technology students beat the casino out of nearly $ 1 million. This book

2009-502: The player gets the original amount wagered back. However, the casino may only pay 4 times the amount wagered for a winning wager. The house edge, or vigorish, is defined as the casino profit expressed as a percentage of the player's original bet. (In games such as blackjack or Spanish 21 , the final bet may be several times the original bet, if the player doubles and splits.) In American roulette , there are two "zeroes" (0, 00) and 36 non-zero numbers (18 red and 18 black). This leads to

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2058-547: The players gamble cash or casino chips on various possible random outcomes or combinations of outcomes. Casino games are also available in online casinos , where permitted by law. Casino games can also be played outside of casinos for entertainment purposes, like in parties or in school competitions, on machines that simulate gambling. There are three general categories of casino games: gaming machines, table games, and random number games. Gaming machines, such as slot machines and pachinko , are usually played by one player at

2107-420: The respondents believed that such activities contribute positively to Vietnam's ability to attract investments. Given the large amounts of currency handled within a casino, both patrons and staff may be tempted to cheat and steal, in collusion or independently; most casinos have security measures to prevent this. Security cameras located throughout the casino are the most basic measure. Modern casino security

2156-596: The safety of both guests and the casino's assets, and have been quite successful in preventing crime. Some casinos also have catwalks in the ceiling above the casino floor, which allow surveillance personnel to look directly down, through one way glass, on the activities at the tables and slot machines. When it opened in 1989, The Mirage was the first casino to use cameras full-time on all table games. In addition to cameras and other technological measures, casinos also enforce security through rules of conduct and behavior; for example, players at card games are required to keep

2205-441: The specific rules and even the number of decks used. Traditionally, many casinos were reluctant to disclose the house edge of their slot games, making it difficult for players to assess the true pay out potential. However, this practice is slowly changing, as more online casinos are beginning to provide this information, and independent research, such as that conducted by Michael Shackleford , has also shed light on these figures. In

2254-443: The world. The number continues to grow steadily as more states seek to legalize casinos. 40 states now have some form of casino gambling. Interstate competition, such as gaining tourism, has been a driving factor to continuous legalization. Relatively small places such as Las Vegas are best known for gambling; larger cities such as Chicago are not defined by their casinos in spite of the large turnover. The Las Vegas Valley has

2303-519: Was founded in 1917 as a site to gather information from foreign diplomats during the First World War. Today it is owned by the Italian government, and operated by the municipality. With gambling laws being less strict than in Italy and Switzerland, it is among the most popular gambling destination besides Monte Carlo. The income from the casino is sufficient for the operation of Campione without

2352-541: Was greatly influenced by four major cities: New Orleans , St. Louis , Chicago and San Francisco . It was in the saloons that travelers could find people to talk to, drink with, and often gamble with. During the early 20th century in the US, gambling was outlawed by state legislation. However, in 1931, gambling was legalized throughout the state of Nevada , where the US's first legalized casinos were set up. In 1976 New Jersey allowed gambling in Atlantic City , now

2401-443: Was popular with visitors from nearby Hong Kong , where gambling was more closely regulated. The Venetian Macao is currently the largest casino in the world. Macau also surpassed Las Vegas as the largest gambling market in the world. Machine-based gaming is only permitted in land-based casinos, restaurants, bars and gaming halls, and only subject to a licence. Online slots are, at the moment, only permitted if they are operated under

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