Beneath the flashing lights and free drinks, casinos are a system engineered to slowly drain their patrons of money. But a few mathematically inclined minds have tried to turn the tables by harnessing their knowledge of game theory and probability to beat the house. It’s not as easy as it looks, though.
Casinos offer everything a gambler could want, from top-notch hotels and spas to gourmet restaurants and stage shows. They also have the advantage of being located in some of the most exotic locales in the world, which is what attracts many high rollers and makes them a popular destination for those looking to make it big.
While the odds of winning in a casino are very low, they still exist. In fact, the average casino has a built-in edge that guarantees it a profit, even if all bettors lose their money. This is why casinos have to offer huge rewards to lure the biggest bettors: free spectacular entertainment, reduced-fare transportation and hotel rooms.
But what is less obvious is that if you play for long enough, the average casino will end up losing more money than it takes in. This is why most of them have loyalty programs that reward players with points they can exchange for cash or use to determine their VIP status and tier, which comes with additional perks. But if you’re a smart player, you can minimize your losses by playing games with the least house edge and avoiding the glitzy machines that offer the worst odds–games like craps, which are highlighted by bright colors and flashing lights.