Kasino or casino, as most of us are used to spell it, is per definition hazard games where players gamble money to win against the odds.
If we go on wikipedia, we learn that the first known casino in Europé was opened in 1638 in Venice Italy but it is known that people long before the birth of christ were enjoying themselves and entertained themselves with pleasures comparable to casinos and games.
Today the most well known physical casinos are in Las Vegas, Monte Carlo and Macau.
The precise origin of gambling is unknown. It is generally believed that gambling in some form or another has been seen in almost every society in history. From the Ancient Greeks and Romans to Napoleon’s France and Elizabethan England, much of history is filled with stories of entertainment based on games of chance.
The first known European gambling house, not called a casino although meeting the modern definition, was the Ridotto, established in Venice, Italy, in 1638 by the Great Council of Venice to provide controlled gambling during the carnival season. It was closed in 1774 as the city government felt it was impoverishing the local gentry.
In American history, early gambling establishments were known as saloons. The creation and importance of saloons was greatly influenced by four major cities: New Orleans, St. Louis, Chicago and San Francisco. It was in the saloons that travelers could find people to talk to, drink with, and often gamble with. During the early 20th century in America, gambling was outlawed by state legislation. However, in 1931, gambling was legalized throughout the state of Nevada, where America’s first legalized casinos were set up. In 1976 New Jersey allowed gambling in Atlantic City, now America’s second largest gambling city.
Most jurisdictions worldwide have a minimum gambling age of 18 to 21.
Customers gamble by playing games of chance, in some cases with an element of skill, such as craps, roulette, baccarat, blackjack, and video poker. Most games have mathematically determined odds that ensure the house has at all times an advantage over the players. This can be expressed more precisely by the notion of expected value, which is uniformly negative (from the player’s perspective). This advantage is called the house edge. In games such as poker where players play against each other, the house takes a commission called the rake. Casinos sometimes give out complimentary items or comps to gamblers.
Payout is the percentage of funds (“winnings”) returned to players.
Casinos in the United States say that a player staking money won from the casino is playing with the house’s money.
Video Lottery Machines (slot machines) have become one of the most popular forms of gambling in casinos. As of 2011 investigative reports have started calling into question whether the modern-day slot-machine is addictive.