Casinos have long been a source of fascination. From the Rat Pack in Ocean’s 11 to George Clooney and his entourage in a reboot of the same name, casinos have captured the imagination of moviegoers with their glitz, glamour, and five-star food entertainment. But how do they trick otherwise rational people into throwing hundreds and sometimes thousands of dollars away based on the roll of a dice, spin of a wheel, or draw of the cards?
The answer lies in the business model. Like any other enterprise, casinos have built-in advantages that ensure they, and not the customers, will be the winners in the long run. These advantage, which can be calculated mathematically, are called house edges and they exist in a variety of gambling games including slot machines, roulette, craps, blackjack, video poker, and even some sports betting markets (over/under bets on the total number of points scored in a game, or prop bets on individual players and events).
Another way casinos keep people playing is through comps. While some may consider this a form of gambling, others see it as a way to reward loyal patrons who spend lots of money at the casino and generate substantial revenues for the establishment. Oftentimes, these rewards can include things like free hotel rooms and meals, show tickets, limo service, and airline tickets.
Many casinos also make their games accessible via mobile devices and online platforms. These platforms offer a wide range of games, secure transactions, and account management functions for players to use on the go. As such, players can enjoy the thrill of gambling from anywhere at any time as long as they have a reliable internet connection.