Beneath the flashing lights and free cocktails, casinos stand on a bedrock of mathematics, engineered to slowly bleed patrons of cash. For years, mathematically inclined minds have tried to turn the tables by leveraging their knowledge of probability and game theory to exploit weaknesses in a rigged system. But it’s not that easy: the sunk cost fallacy, irrational fear of loss and desire to celebrate wins keep people gambling, even when they know they’re losing money hand over fist.

Casinos use a variety of psychological tricks to lure people in and keep them playing. They waft scented oils through the ventilation systems to create a manufactured blissful experience and play loud music to distract patrons from thinking about their losses. Casinos also rely on the illusion of randomness to keep players betting, reducing the time they spend between wins and losses and increasing the frequency of near-misses.

The financial pillars of casinos are slots and table games, which generate revenue by attracting high volume bettors at low margins. The games are regulated by rules of conduct and behavior and monitored by technology: roulette wheels have built-in microcircuitry to monitor the exact amounts of chips placed minute by minute; video cameras watch players at card tables for any suspicious behavior.

The casino business is always evolving, and staying on top of the latest trends is essential for success. Consider how you can reach new audiences with online gaming, entertainment preferences, augmented and virtual reality, e-sports, and more.