A casino is a gambling establishment that features table games like poker and blackjack, as well as slot machines. Besides offering gamblers the opportunity to win money, casinos often offer entertainment and food. The Bellagio in Las Vegas, for example, is famous for its dancing fountains and has been featured in several movies including Ocean’s 11. It also boasts luxury accommodations and high-end dining options.
Although gambling probably existed as early as recorded history, the modern casino with a variety of ways to bet and win under one roof did not emerge until the 16th century, when a gambling craze swept Europe. Italian aristocrats would meet to play in private rooms called ridotti, where they could place bets on a variety of events without worrying about the attention of legal authorities.
While elaborate hotels, musical shows and lighted fountains help draw customers, casinos would not exist without the billions of dollars in profits generated by their games of chance. Games such as keno, craps, roulette, baccarat and blackjack have built-in odds that ensure the house wins. This advantage is known as the “house edge,” and it is how casinos make their money. In addition to the house edge, casinos also take a commission on some games, known as the vig or rake.
In the first half of the 20th century, organized crime provided a steady stream of funds for casinos in Nevada and other states where gambling was legal. But mob leaders wanted more than just bankrolls: they demanded ownership rights, took part in running the businesses and even influenced the outcomes of some games. In the 1990s, however, hotel and real estate companies with deeper pockets bought out the mobsters and ended mob control of the industry. In addition, federal crackdowns on even the tiniest hint of criminal involvement have made it harder for organized crime to influence casinos.