Beneath the flashing lights and free cocktails, casinos stand on a bedrock of mathematics, engineered to slowly bleed their patrons of cash. For years mathematically inclined minds have tried to turn the tables by harnessing their knowledge of probability and game theory to exploit weaknesses in a rigged system. Most of them have failed miserably, but a few succeeded: the American Physical Society held a conference in Las Vegas in 1986, and local papers ran a story headlined “Physicists in Town, Lowest Casino Take Ever.”

Despite their veneer of glamour, excitement and fun, modern casinos are actually complex businesses. They operate on a foundation of statistical probabilities that ensure the house has a positive expected value for every action it takes, even in games that have an element of skill (like blackjack and video poker). This is also known as the house edge. In addition to this, casinos make money by taking a percentage of each bet, known as the rake.

As a result, it is very rare for a casino to lose money on a single game. However, in the long run, the house edge can add up to significant losses. To combat this, the casino industry employs a host of high-tech systems designed to monitor and control each game. These include computer-monitored systems that track chips in play, allowing them to detect any irregularity minute by minute; electronic roulette wheels that use microcircuitry to electronically monitor the results and alert the operator to any anomalies; and wholly automated versions of traditional table games such as craps, baccarat and roulette that dispense money to players by pushing buttons.