What Is a Casino?
Due to the large amounts of money handled within casinos, patrons and staff can be tempted to cheat or steal, either in collusion or independently. For this reason, casinos invest a considerable amount of time and money in security measures. For example, slot machines have embedded microcircuitry to record the exact amount of money wagered minute-by-minute, and roulette wheels are electronically monitored regularly to discover statistical deviations from expected results.
In the past, organized crime figures controlled many casinos, but federal crackdowns and the threat of losing a gaming license at even the slightest hint of mob interference drove them out. Real estate investors and hotel chains, with their deep pockets, stepped in to take over the business. Although casinos generate substantial revenue, studies suggest that the cost of treating problem gamblers and lost productivity from gambling addiction outweigh any economic benefits.