What Is a Casino?

A casino (or ksino) is an establishment for gambling. Typically, casinos combine gambling with other activities such as restaurants, resorts, hotels and other tourist attractions. The term may also refer to a private club or organization that offers gambling and other entertainment to its members. In the United States, the largest and best known casino is located in Las Vegas, Nevada, where casino gambling became legal in the 1940s. Other famous casinos include those at Monte Carlo, Monaco; Estoril, Portugal; Corfu, Greece; and Baden-Baden and Bad Homburg von der Hohe, Germany.

Modern casinos are elaborate entertainment complexes that offer a wide variety of games, including poker, blackjack, roulette and video slots. They also feature other entertainment such as stage shows and dramatic scenery. Some casinos also have nightclubs and/or hotel accommodations. Some even have their own theme parks, complete with water slides and other attractions.

Casinos make money by accepting bets from patrons, whose wagers are matched by the house’s built in statistical advantage. The house edge can be very small—as low as two percent—but it adds up over time and millions of bets. This gives the casinos enough income to build lavish hotel-casinos, towers, pyramids and other architectural wonders. Casinos also earn money by charging commissions on some games, such as baccarat and blackjack, or by taking a percentage of all bets made on video poker and slot machines.

Some economists argue that the net social value of casinos is negative, because they discourage other forms of recreation; and that the costs of treating gambling addictions erode any economic gains they may generate. Others point out that casinos encourage illegal activities such as prostitution and drug trafficking, and can cause property values in nearby neighborhoods to decline.