The Economic Impact of Casinos


A casino is a place where people go to gamble. While they might be known for their elaborate themes, most of the money they make comes from gambling. Even though casinos offer entertainment to guests, they also house restaurants, shopping malls, and even entertainment events. Early casino names refer to pleasure and entertainment. Today, gambling at a casino is a lifestyle choice for many people, both rich and poor. The first legal casino opened in Baden, Switzerland, in 1765.

Despite this obvious advantage, casinos spend a lot of money securing their gaming machines and ensuring that their players remain safe. While it is true that some players might be lucky and walk out with some money, casinos have a definite statistical edge. This advantage is known as the rake or “vig”, and it can vary based on the types of games you play and how the casinos payout. In general, a casino’s edge is about two percent, but it can vary.

Many proponents of a casino point to lower local unemployment rates after it opened. Although the local unemployment rate did decrease following the opening of a casino, this figure should be compared to the statewide rate. Depending on the area, the casino may have contributed to employment growth, but it should be considered that this growth in employment may have been the result of changes in other sectors of the local economy. Therefore, it is important to consider the overall economic impact of a new casino before making the decision.