What Is a Casino?

A casino is a gambling establishment where people can play various games of chance for money or other prizes. The best casinos offer a wide variety of gaming options and luxurious amenities such as top-notch hotels, spas, restaurants, and live entertainment. Some casinos specialize in specific games, such as poker or baccarat. The games themselves may be played in person, over the Internet, or through dedicated casino apps.

Casinos are classified as financial institutions in the United States because they exchange cash for chips, issue checks, and handle wire transfers. As such, they are required to report currency transactions of more than $10,000 a day to the Financial Crimes Enforcement Network. This reporting applies to both patrons and employees.

Because of the large amounts of money involved, casino patrons and staff are often tempted to cheat and steal, either in collusion or independently. This is why casinos spend a lot of time and money on security measures. Despite these efforts, there is always the possibility that someone will win a substantial sum of money and fail to come forward to claim it. This is why the casinos are required to record a liability for unclaimed winnings.