A casino is a place where people gamble by playing games of chance, in some cases with an element of skill. Most casinos offer blackjack, poker, and slot machines, along with live entertainment and top-notch hotels, spas, and restaurants.
In a casino, patrons pay to play games of chance or skill in exchange for cash or other valuable items. Casinos make their money by taking a percentage of the bets made, or “winnings,” from the players. This can be expressed in terms of a mathematical expectancy or variance, and is commonly known as the house edge. Casinos may also profit from patrons who play against each other in card games such as poker, where the casino takes a commission called the rake.
Beneath the varnish of flashing lights and free cocktails, casinos stand on a bedrock of mathematics, engineered to slowly bleed their patrons of cash. For years, mathematically inclined minds have tried to turn the tables by harnessing their knowledge of probability and game theory to exploit weaknesses in a rigged system.
The elegant spa town of Baden-Baden first became a playground for European royalty and aristocrats 150 years ago, and its casino is one of the oldest in the world. It’s opulently outfitted with baroque flourishes, and the chandelier in the main room is a real stunner. Its 3,000 slot machines and 90 table games attract a younger, party-going crowd. Its Planet Hollywood casino boasts a variety of shows and acts from past headliners such as Kelly Clarkson and Christina Aguilera, and it features a glamorous Pleasure Pit with go-go dancers and movie memorabilia.