What is a Casino?
A casino is a place where people gamble on games of chance and skill. It may sound like a strange concept, but gambling has been a part of human culture since ancient times. Today’s casinos are almost all over the world, although many have a distinct national flavor. In Europe, they generally have a similar character to those in the United States.
While glitz and glamour, musical shows and lighted fountains attract customers to many casinos, the vast majority of their profits come from games of chance. Slot machines, blackjack, roulette, poker and craps bring in billions of dollars in profits every year.
In the past, most casinos were run by organized crime groups and gangsters. They were known for their seedy and violent reputation, but federal crackdowns on mob involvement in casinos helped clean up the industry. Today, most casinos are run by large real estate investors and hotel chains, who have deep pockets and the ability to avoid mob interference.
A typical casino customer is a forty-six-year-old female from an upper middle class family, with a high income and lots of time to spare on leisure activities. In 2005, the average casino gambler had a college degree, and most were employed full time. A very small percentage of casino patrons are addicted to gambling, and the money spent treating them and lost productivity reverses any positive economic impact a casino might have in its community. Despite this, most communities welcome casinos because they can provide local jobs and increase tax revenue.