What Does a Casino Manager Do?
A casino is a gambling establishment offering a variety of games of chance for people to place wagers on. These games include table games such as blackjack and roulette, video poker, and slot machines. Casinos are regulated by the governments of the countries in which they operate. Some countries only allow a certain number of casinos to operate. Other countries, such as the United States, have legalized a large number of casinos.
While casino owners spend millions of dollars on musical shows, lighted fountains, hotels and shopping centers to attract customers, they would not exist without games of chance that bring in billions in profits every year. While the majority of the money raked in by casinos is from slot machines and other machine-based games, blackjack, craps and poker also generate significant income.
Each game of chance has a built in mathematical advantage for the house, which is sometimes called the house edge. While this advantage may be small – lower than two percent – it adds up over time to make casinos profitable. The rake taken by card dealers in games like poker is another major source of revenue for casinos.
While most casino employees do not need a college degree, many of the best casino managers hold at least a bachelor’s degree in fields such as business administration, economics or hospitality management. Some even have master’s degrees, as well as years of experience in the industry. A good casino manager understands the nuances of each game, including its house edge and variance. This information is critical for determining how much of a bankroll a casino needs to stay solvent.