Underneath the glitter of flashing lights and free cocktails, casinos rest on a bedrock of mathematics engineered to slowly bleed their patrons of cash. For years mathematically inclined minds have tried to turn the tables, using game theory and probability to exploit weaknesses in this rigged system. A well-known story features a pair of physicists who, in the 1970s, visited Las Vegas casinos and won extravagant inducements such as discounted travel packages and hotel rooms, and even free show tickets.
In casino gambling, the house edge (Edge) is the expected return on a game based on standard patterns of play. This advantage is a result of the rules, number of cards, decks of cards, and a variety of other factors that contribute to the variance of a particular game. Casinos hire gaming mathematicians and computer programmers to analyze games in order to optimize their profitability and manage their risk.
Table games refer to any game played on a flat surface with physical components such as boards, chips, cards, or dice that require strategic thinking and decision-making skills, as well as luck. These include card games like poker and blackjack, dice games such as craps, and wheel games such as roulette. Players sit around the game table and interact with each other and with a croupier or dealer who enables the game and manages payments.
Gambling in a casino is regulated by the gambling laws of the country in which it is located. The regulations may restrict certain types of gambling or limit the amount that a person can win or lose. Casinos also regulate the use of promotional materials such as advertisements, which are often displayed within or adjacent to a gaming area.