A casino is a place where gamblers risk money or other things of value in games of chance and sometimes skill. Some games are played against the house, while others are played against other players. Regardless of the game, the house always has an edge over the player, a factor known as the house edge or expected value. The casino’s profit is the difference between this edge and the amount of money paid in bets. The house also collects a percentage of the winnings from some games, a practice called raking. The house edge and rake are calculated by mathematically analyzing the probability of a given event occurring. This analysis is done by computer programs and mathematicians called gaming mathematicians and analysts.

Some casinos feature stimulating atmospheres and offer perks designed to draw in gamblers and keep them spending, such as free hotel rooms or buffet meals. This type of customer service is often called comps, short for complimentaries. In the 1970s, Las Vegas casinos were famous for their comps, which were based on the theory that gambling profits were driven by filling hotels and the casino floor with as many people as possible.

In the United States, casinos are classified by the federal government under the North American Industry Classification System code 713210, which includes establishments that operate gambling facilities offering table wagering games and slot machines. In addition to their games of chance, some casinos host sports betting and other entertainment.