Security is one of the most important elements in a casino. Customers gamble by playing games of chance and skill. The house always has an edge, or “house edge,” over the players. These games also have mathematically-determined house edges, or “rakes,” which are fees charged by the casinos. Depending on the game, casino patrons can receive free drinks, free food, and other amenities, called comps. Despite these advantages, there is still a certain level of risk involved.
To combat this danger, the casino must know how to calculate the house edge. This is the percentage of a player’s winnings that the casino is likely to receive from that hand. The variance varies from game to game, but the house edge is always higher. The difference between winning and losing is the amount of cash the casino keeps in reserve. Gaming mathematicians and analysts do this work. The casinos do not have in-house expertise in this field, and instead outsource it to experts.
While the casino industry is still growing, many new casinos are being built around the world. Those that are located in foreign countries have to comply with strict regulations, including keeping card cards visible at all times. The Genting Highlands is home to Malaysia’s largest casino, and Las Vegas Sands has its headquarters at the Venetian in Paradise. The book, “Gambling in America,” by William N. Thompson, describes the history of gambling in the United States.