A casino must know the house edge and variance in order to run profitable games. These two statistics determine how much the casino will make from a given game. These calculations are done by computer programmers and mathematicians who are known as gaming analysts. Most casinos do not have in-house expertise in this field, so they outsource the task to outside experts. This article will cover the key facts about casino gambling and the most common games played at casinos.
In the nineteenth century, the casino was simply a public hall used for dancing and entertainment. Later, it became a series of gaming rooms. The Monte-Carlo casino opened in 1863, and has been a major source of revenue for the principality of Monaco. Its success has helped the local economy. The casino is one of the oldest forms of gambling in the world. A recent study shows that casinos in Macau make $12 billion annually.
Technology is used to monitor casino games. Today, casinos routinely use video cameras and computers to keep an eye on the action on the floor. These casinos use “chip tracking” technology, which involves betting chips with built-in microcircuitry. These machines can keep track of all the players’ wagers minute by minute. Roulette wheels are also routinely monitored and statistically-defined deviations are corrected. Enclosed versions of casino games do not require dealers, and players can place their bets with the push of a button.