A casino is, in the modern sense of the word, a facility that houses and accommodates certain types of gambling activities. Casinos are most commonly built near or combined with hotels, restaurants, retail shopping, cruise ships and other tourist attractions. Some casinos are known for hosting live entertainment events, such as stand-up comedy, concerts, and sporting events.
Customers gamble by playing slot machines or other games of chance (e.g., craps, roulette, baccarat) and some skill (e.g., blackjack, poker) (for more see casino games). Games usually 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 often give out free items, known as comps to people who are gambling. Often, in most casinos, the more money a player uses the more benefits or comps the player get. Comps are determined on a formula set by the casino based on the player's average bet x the number of hours of play x the percentage that the casino will win on the player. Whether the player wins or loses does not matter; it is solely based on the formula. Comps can range in anything from free drinks during play to penthouse suites, free airfare, limo service, and free food.
Online casinos, also known as virtual casinos or internet casinos, are online versions of traditional ("brick and mortar") casinos. Online casinos enable gamblers to play and wager on casino games through the Internet.
Online casinos generally offer odds and payback percentages that are comparable to land-based casinos. Some online casinos claim higher payback percentages for slot machine games, and some publish payout percentage audits on their websites. Assuming that the online casino is using an appropriately programmed random number generator, table games like blackjack have an established house edge. The payout percentage for these games are established by the rules of the game.
Reliability and trust issues are commonplace and often questioned. Many online casinos lease or purchase their software from well-known companies like Microgaming, Realtime Gaming, Playtech, and CryptoLogic Inc in an attempt to "piggyback" their reputation on the software manufacturer's credibility. These software companies either use or claim to use random number generators to ensure that the numbers, cards or dice appear randomly.
Online casinos can be divided into three groups based on their interface: web-based casinos, download-based casinos, and more recently live casinos. Some casinos offer multiple interfaces.
Web-based online casinos are websites where users may play casino games without downloading software to the local computer. Games are mainly represented in the browser plugins Macromedia Flash, Macromedia Shockwave, or Java and require browser support for these plugins. Also, bandwidth is needed since all graphics, sounds and animations are loaded through the web via the plugin. Some online casinos also allow gameplay through a plain HTML interface.
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