A casino, also known as a gambling house or a gaming establishment, is a place where people can gamble. Its amenities can include restaurants, hotels and retail shops. Some casinos have entertainment attractions such as stage shows and theme parks. The most famous gambling houses are in Las Vegas, Nevada, but they exist in many places around the world.
Casinos make money by charging a commission on wagers placed at their tables and slot machines. This charge, called the vig or rake, can be as low as two percent of total bets. As a result, it is very difficult for a casino to lose money on any given day. This virtual guarantee of gross profit gives casinos enough cash to build huge resorts, fountains, towers and replicas of famous landmarks.
In addition, casinos use sophisticated technology to control the games themselves. For instance, betting chips have built-in microcircuitry that allows the casino to monitor them minute by minute; roulette wheels are electronically monitored to discover any statistical deviation from their expected results. The casinos that employ these technologies are often referred to as high-tech casinos.
Casinos are a major source of revenue for governments and local businesses. They create jobs, boost tourism and encourage economic growth. The industry is regulated and overseen by gaming commissions, which help protect players and ensure fair play.