Wednesday, April 11, 2007

Gambling in Casinos

In most jurisdictions, gambling is limited to persons over the age of majority (21 years of age in most of the United States and 18 to 21 in most other countries where casinos are permitted).

Customers gamble by playing slot machines or other games of chance (e.g., craps, roulette, baccarat) and some skill (e.g., blackjack, poker).

Games usually have mathematically-determined odds that ensure the house retains a long term advantage over the players. 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.

Payout is the percentage won by players.
Playing with house money refers to the situation where a winning player is placing bets with money that has been won from the casino.

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