What Is a Casino?

A casino is an establishment for certain types of gambling. Casinos are usually built near or combined with hotels, resorts, restaurants, retail shops, and other attractions. In some jurisdictions, casinos are licensed and regulated by government agencies. In some cases, they are operated by private companies. Some casinos offer only table games; others offer both table and machine games.

Casinos are profitable enterprises that generate billions of dollars each year for the corporations, investors, and Native American tribes that own them. They are also a significant source of revenue for state and local governments. However, they may be vulnerable to cheating and theft by both patrons and employees. Security measures are therefore important.

The profitability of a casino depends on the house edge and variance, mathematically determined odds that ensure the house will always make a profit as a percentage of total turnover. The mathematics of these calculations is complex and requires expert knowledge of probability theory, game theory, and computational complexity. Casinos employ mathematicians and computer programmers who specialize in these fields.

The word casino is derived from the Italian cazino, meaning “little box.” A casino is a place where money is bet on random events or combinations of outcomes; the gambler puts cash or other items at risk on these possibilities in exchange for the chance to win prizes. It is a type of gambling establishment, and in the United States is typically located in a resort town or on a cruise ship.