25 Feb 10 Things You Didn’t Know About Casinos
Casinos tend to bring in all walks of life, as they attract old and young guests, tourists, and die-hard gamblers. Because they are built so close to hotels and restaurants, they also get a fair amount of stragglers that come to the floor after seeing what a spectacle it truly is.
Gambling has been a part of society for a long time, having been a feature of hotels, inns, and lounges in the past. Casinos surely have a rich culture, but is everyone familiar with their history and operations?
Check out the list below to learn more about casinos you must know about.
- Casinos Originated in Italy
The word “casino” originated back in the 18th century in Italy from Italian, short for ‘casa,’ meaning house. The actual origin of gambling is not known but the first organised European gambling house was the Ridotto in Venice, Italy in 1638. The purpose of the Ridotto was to arrange and control gambling at the time of the carnival season. It had a formal dress code and it required the players to wear three-cornered hats and masks.
- British Casino’s Evolved From Gentlemen’s Clubs
The largest gambling hub in Britain was originally located in the city of Bath. Later, in the 18th century, it was shifted to London after many posh clubs began to develop. These were exclusive, members-only clubs and had grown out of coffeehouses and other meeting places for the elite classes of society. White’s, the earliest gentleman’s club in London, was formerly a chocolate house.
- The Biggest Ever Slot Machine Win Was $40m
The biggest prize ever won at a slot machine was in Las Vegas on March 21st, 2003. Everyone wants to win it big on the slots, but most aren’t lucky enough. In 2003, however, a 25-year-old engineer hit the city’s largest slot jackpot in history after playing at the $100 megabucks machine. He won a staggering $39,710,826.36.
- Archie Karas Holds the Largest & Longest Winning Streak in Casino History
Archie Karas is a gambling legend. A Las Vegas native, he is a high roller who has gone back and forth between broke and millionaire many times. He is known for always going big, betting as much as he can with little regard for the risks he is taking. His longest winning streak, referred to as “The Run”, saw him turn $50 to $40 million in less than 3 years, only to lose it all again the following year.
- Fruit Machines Must Payout At Least 70%
Fruit machines are simple slot machines that display wheels with various fruits on them. Players hit a button, spin the wheel, and if the same fruits line up in a row, they win! The Commission for gambling keeps the minimum payout percentage in case of fruit machines at 70%. That means that for every dollar a player spends on the machine, they should expect to get seventy cents back. The chances of winning a prize in these machines depends on the outcome of the previous play. When a machine has not given out a jackpot for a long time, it becomes much more generous as the game proceeds. In online slot machines, the payout percentage is way higher. At Unibet for example, the average payout is 97% for slot games!
- Teddy Sheringham Has Won $330,000 Playing Poker
Former Football player Teddy Sheringham is a celebrity hero in the Casino scene today. After an excellent career in football, Sheringham has tried his hand at Poker. He has done exceedingly well, and can now be found playing poker tournaments in Europe and at the World Series of Poker tournaments held in Las Vegas. He won $330,000 from tournament earnings.
- Craps and Blackjack Have the Lowest House Edge
Every game at casino has a built in advantage for the house, which is known as the ‘house edge.’ If the player wants the best chance of winning, he must play either craps or blackjack. But these games do require skill and are not for first timers in the casino! Craps has a 0.5% advantage and Blackjack has a 1% advantage, which means they will yield the maximum profit for the player.
- The Longest Poker Game Lasted Over Eight Years
Poker requires patience and skill; tournaments generally last for a month or two. But in 1881 in the cellar of a theatre in Arizona, a poker game was hosted that ran continuously for 24 hours a day, for close to eight and a half years. People say that around $10,000,000 changed hands during this tenure of the marathon Poker.
- A Player Once Lost £1.5 Million in Three Minutes
The pain of a loss in gambling can be enormous. Especially if a player loses a huge sum while playing roulette or poker… But it is hard to find a situation worse than Robert Maxwell’s. He lost a whopping £1.5 million in just three minutes time after playing 3 roulette wheels simultaneously.
- A British Man Once Gambled $135,300 on A Single Spin Of A Roulette
In 2004, a British gambler sold all of his belongings, even his clothes, for the amount of $135,300. He gambled all of it by placing a bet on the single spin of a roulette wheel. Luckily for him, the gamble paid off and he doubled his money in one turn. Although even he admits it was a careless decision, and he would not do it again.