Casinos – The Game of the Rich
The term “casino” comes from the Italian word “casino”, which means “little house.” A casino is a place where people come to gamble and enjoy entertainment. Many casinos also feature shopping malls, restaurants and other amenities. Some have even become entertainment centers in their own right. Early names of casinos referred to pleasure or fun. However, gambling at a casino has evolved into a lifestyle that has become a part of the culture of the rich. In 1765, the first legal casino opened in Baden, Switzerland.
In order to be able to offer the best games and maximize profits, casinos must know the house edge and the variance of each game. These numbers help the casino know how much to reserve in case the casino loses a bet. Computer programmers and mathematicians are hired by casinos to do this work. Unfortunately, casinos do not have in-house expertise in this field, so they have to rely on the expertise of outside companies.
As a result, casinos are a place for people who love to gamble. The popularity of online casino has grown tremendously. The internet now generates more than $12 billion dollars annually and is expected to continue to grow. Regardless of the reason, casinos are the game of the rich. And while these statistics are somewhat discouraging, the fact remains that the gambling industry is a billion dollar industry. The world has never been so vibrant, and no country has ever seen a casino without a single sign of recession or depression.