The Bellagio is famous around the world as a high-class casino with a huge selection of table games, slot machines and poker rooms. Its elegant and sophisticated style makes it a favorite destination for both casual and high-stakes gamblers. The movie Ocean’s 11 brought the casino to an international audience, and it remains one of the best-known casinos in the world.
Although gambling is probably as old as recorded history itself, the idea of a central place where people can find many different types of gambling under one roof did not develop until the 16th century. That was when a gambling craze swept Europe, and Italian aristocrats began hosting private parties at places known as ridotti [Source: Schwartz].
In the United States, the first modern casinos started to appear in the 1950’s, but only after some of the state’s laws were changed to allow them. In addition, the Mafia was heavily involved in funding them. This provided a steady supply of cash, but also tainted the image of casinos with their seamy association with illegal rackets.
The basic concept of a casino is to offer a variety of gaming opportunities, all of them based on chance. The games usually have a built in long-term advantage for the house, known as the house edge or vig, which is a significant part of the revenue earned by the casino. However, some games have a skill element that can eliminate the house edge, and these are called advantage games.