Casinos are fascinating places. While they can make tons of money, they don't really have a product.

And while it's often called entertainment, unlike other forms of entertainment, no one is actually entertaining you.

In fact, the entire business is really nothing more than

applied mathematics. With the proper application of mathematics and a liberal dose of high-tech security

and proper management, a casino can become a cash machine.

Learn more about how casinos work on this episode of Everything Everywhere Daily. I have a confession to make. I enjoy visiting casinos. However, I also have another

confession to make. I almost never gamble. When I tell people that I don't gamble they often think it's for

religious reasons or maybe I have a gambling addiction. However neither of those is the

case. The reality is a lot simpler. I have a degree in mathematics. I know mathematically that the odds are against me

any time I put a bet down at a casino. I might win but I probably won't and the

more I bet the greater the odds of losing.

So that being said, I do enjoy casinos.

What I find fascinating about them

is how efficiently they are designed

to psychology and mathematics

to extract the maximum amount of money from their customers.

In that spirit, I want to go over just exactly how casinos work, how they manage to make money,

and how they manipulate people to give it up.

I'll note right up front that every casino is a little different.

A mega casino and Macau will be different than a casino for locals in Las Vegas,

which will yet again be different from a casino on an American Indian reservation.

Nonetheless, they all have enough in common that a general discussion can be had.

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