The word casino conjures up images of the glitz and glamour of Las Vegas, but casinos are located throughout the world, from the historic elegance of Baden-Baden to the modern opulence of Singapore. Many of these casinos offer more than just gaming opportunities, as they have restaurants, hotels, and other luxury amenities.

Casinos are in the business of making money, and they rake in billions each year for their owners—corporations, investors, and Native American tribes—and their employees. They also rake in tax revenue for their home cities and states, which use this money to fund other government services. Because of this, it is important for them to know both the house edge and variance for each game they have in operation, and they often employ mathematicians specializing in casino analysis to do this work for them.

Casinos bring a lot of people to a town, and these patrons spend their money at local hotels, restaurants, shops, and other tourist attractions. This boosts employment in the immediate area, and it raises property values. Studies have shown that, even controlling for a number of other factors, counties with casinos tend to have higher employment rates and higher wages than those without them. However, opponents of casinos argue that they breed crime and ruin local economies. This is especially true when the gambling industry is regulated by government agencies instead of the private sector. The resulting regulations can make it very difficult for new businesses to enter the market and compete against established casinos.