Casinos are gambling establishments that offer a variety of games of chance to customers. They can include table games like blackjack, roulette and craps; video poker; keno; and various forms of poker. While musical shows, lighted fountains and lavish hotels might help draw visitors to casinos, the billions in profits raked in by these gambling establishments are largely dependent on the games of chance themselves.
A casino has a built-in statistical advantage in all of its games, known as the house edge, and this is how casinos make money. Depending on the game, this edge can be as low as two percent or as high as eighty-five percent. Casinos also earn revenue from a small fee taken by players in poker and other games that do not pit them against the house, called a rake.
Many of the same strategies used by professional gamblers to maximize their winnings are employed by casinos in order to keep patrons playing as long as possible. The use of a color palette that is stimulating and cheery is one such strategy, as are the often gaudy floor and wall coverings. Clocks are not displayed, and the lighting is designed to prevent people from realizing how much time has passed.
In addition to generating revenue, casinos can provide local governments with jobs. But it is important to understand that local changes in unemployment should be compared with statewide changes in unemployment, as well as other factors such as population changes and cyclical business patterns, when considering whether casinos improve or hurt local employment.