By admincanA casino is a facility for certain types of gambling. Some casinos are operated by government-owned enterprises, while others are private businesses. Many casinos are combined with hotels, resorts, restaurants, retail shops or cruise ships. The precise origins of casino gaming are obscure, but it is believed that some form of gambling has existed since the dawn of human civilization. Archaeological evidence shows dice were used in China as early as 2300 BC, and betting on horse races and sporting events took hold in Rome around 500 AD. In the United States, the first legal casino was opened in Las Vegas in 1931, but it would take decades for the industry to grow outside Nevada.
The casino industry relies heavily on mathematical analysis, computer technology and data mining to make informed business decisions. A casino’s house edge (or expected value, which can be expressed more precisely as the casino’s statistical advantage over its customers) and variance are key performance metrics that are monitored constantly. These metrics are used by game designers to create games that have a high probability of winning, while minimizing the chance of a large loss. Casinos hire specialized mathematicians and computer programmers to perform this work.
The casino industry has a strong social aspect, promoting teamwork and camaraderie among gamblers. According to the book Busting Vegas by Ben Mezrich, over half of casino-goers play with friends and family members. In addition, over 82% of respondents to a 2002 Gemini Research survey said that they go to a casino to have fun and be entertained.