In a Casino, customers gamble with a combination of chance and skill. Most casino games have an inherent advantage to the house – also known as the house edge – which is reduced to as little as two percent through rake or “vig” (see below). Casinos may also offer customers a free item or other comps to encourage them to gamble more. However, the house edge may not be as low as most people would think.
In 2008, a survey conducted by Harrah’s Entertainment revealed that slot machines were the most popular casino game, with nearly half of respondents choosing to play on an electronic gaming device rather than a traditional table game. In the same survey, almost a quarter of respondents chose to play poker or blackjack, with 8% choosing to play table games. However, game preference was not consistently consistent among the genders surveyed. Interestingly, women are more likely to prefer electronic gaming than men, who were more likely to play table games.
A casino’s overall atmosphere is designed to attract and retain big-spending gamblers. While regular casino patrons can easily bet a couple hundred dollars, the high rollers are much more likely to spend millions of dollars. These patrons usually gamble in special rooms separate from the main casino floor, where their stakes are typically in the tens of thousands of dollars. The casino makes much more money from these high-rollers than from other types of gambling. The casino makes up for this profit by offering these gamblers extravagant inducements such as reduced-fare transportation, free drinks, and free cigarettes.