How Technology Makes Casino Gambling Profitable
Casinos are thriving businesses, and the gambling industry is no different. Customers gamble by participating in games of chance and skill. The casino’s mathematical edge is the key to a profitable business, and most games feature established odds that ensure a high house edge over players. As such, the house edge, also known as the rake, is a very important component of casino profitability. Additionally, casinos may offer special incentives, such as free drinks, cigarettes, and reduced-fares transportation, for high-rollers.
Modern casinos have increased their use of technology. Video cameras and computers are routinely used to monitor the games and monitor the players. “Chip tracking” uses microcircuitry in betting chips to track wagers minute-by-minute. Roulette wheels are monitored regularly to detect statistical deviations. There are also enclosed versions of many games, which don’t require dealers and allow players to bet by pushing buttons. These features make casino gambling safer and more lucrative.
While traditional casino games remain popular, many Asian casinos offer local games. In 1989, a third of American casino patrons visited a casino. In contrast, only 17% of Americans had attended college. In 2008, 24% of people had earned a graduate degree. Today, 28% had some college credits, and almost half had no higher education. This data may seem discouraging, but consider that more people are entering the casino industry, and the amount of money they spend is steadily increasing.