After the success of Goodfellas, Martin Scorsese took a gamble with Casino. The film was a repackaging of a fact-based book about mob corruption, starring two stars (De Niro and Joe Pesci) who had already proved their worth in Scorsese’s earlier work. It was a big hit.
But beneath the glitz, glitter, and flashing lights of casinos lies an institution that’s engineered to bleed its patrons for all their worth. Its built-in advantages, referred to as the house edge, are mathematically determined, and they’re uniformly negative from a player’s perspective. In some cases, like baccarat and video poker, skill also plays a role, but players should always start with a fixed amount of money they can afford to lose and never play with more than they’re willing to lose.
Despite the many warning signs, some people are still drawn to the bright lights of Las Vegas and other gambling establishments. These businesses bring a variety of tax benefits to local communities, and they may provide jobs for those who would otherwise be unemployed. Moreover, they’re often able to provide much-needed revenue to local politicians, which can be used to fund essential community services or to avoid spending cuts or higher taxes elsewhere. Nonetheless, it’s important to remember that gambling is not an investment opportunity. It is, at best, a form of entertainment that should be enjoyed responsibly and within limits. As such, it’s vital to know the rules of the game before you play for real money.