The House Edge is a common term used to describe the casino’s advantage in games. This advantage comes from the fact that the rules of the game determine its house edge and variance. Usually, there is no house edge in poker because the casino earns all its money through a commission called rake. However, in many other games like blackjack, there is a house-edge. As a result, the casino makes money through a commission from each game.
Aside from the fact that they are profitable, casinos are also a place to socialize. Studies show that more than one-third of Americans visit casinos in the past year. These statistics have changed significantly since 1989. While only a quarter of Americans had graduated from college, 27% had some college credits or had an associate’s degree. The rest of the population had never even attended college. Accordingly, the average education level of people who visited a casino has increased in the past few years.
In the 1990s, casinos began using technology to monitor their games. Video cameras and computers regularly monitor the gaming floor, and a technology called “chip tracking” allows casinos to monitor bets minute-by-minute. Roulette wheels are also monitored for statistical deviations to prevent cheating. Some casinos have even introduced enclose versions of popular games that don’t require dealers and allow players to bet by pushing buttons. Regardless of the type of casino, these technologies are helping casinos remain safe and profitable.
