A casino is an establishment for certain types of gambling. It is sometimes combined with hotels, resorts, restaurants, retail shops or cruise ships. It may also be a temporary facility used for live entertainment. In some countries, casinos are licensed and regulated by government agencies. Some are based in or near cities, while others are located in rural areas. Some are owned by local or national governments, while others are private enterprises.
The precise origin of gambling is unknown, but it is widely believed that some form of it has existed in almost all societies throughout history. Modern casino gambling combines chance and skill elements. In games such as blackjack and poker where players compete against the house, the casino gains an advantage over the player that is mathematically determined (assuming optimal play without card counting). The casino’s expected value can be calculated and is usually negative; this is known as the “house edge”. In a game such as roulette that involves a wheel, the house also earns money through a commission taken by the croupiers.
Many modern casinos use sophisticated technology for security and game supervision. For example, betting chips have built-in microcircuitry that interact with electronic systems that monitor the exact amounts wagered minute by minute; roulette wheels are electronically monitored regularly to discover any statistical deviation from their expected values. A special field of mathematicians and computer programmers, known as gaming mathematicians and analysts, works for casinos to develop strategies that minimize the house edge and maximize revenue.