There’s nothing more fun than winning a large sum of money. But it’s also dangerous, because the house edge – or advantage that the casino has over you – can grind you down into the dirt. Fortunately, casinos aren’t prone to cheating or changing game settings. They rely on the greed of their patrons to make money. And they don’t care if you lose; the rules are set to favor them.
While the casino has a statistical edge, it is small compared to the other players. The advantage a casino has over its patrons is as low as two percent, but millions of bets can generate enough money for them to break even. This advantage is called the “rake” or the “vig”. As long as you spend enough money, the odds are in their favor. The casino makes enough money from these players to pay the staff.
The casino’s strategy has evolved over the years. Technology has improved the way casino operators do business. In the 1990s, they began to use computers and video cameras to monitor their operations. The use of “chip tracking” technology allowed casinos to watch players’ betting behavior minute by minute. They also monitored roulette wheels for statistical deviations. As a result, they’re able to provide extravagant inducements. The “Compulsive Gamblers Special” offered the names of 200,000 people with “unquenchable appetites for all types of gambling.”