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2025年7月6日 (日) 23:24時点における版
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If a casino paid out $1 for every $1 bet on a correct guess, it would have no edge. But if it only paid out $0.95 for every $1 bet, that 5-cent difference would be its edge. Every casino game is designed with a similar, albeit more complex, mathematical imbalance that benefits the house. For example, in a coin toss, the true odds of heads are 1-to-1. The house edge is derived from the difference between the true odds of an outcome and the payout odds offered by the casino.
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The notion of betting is as ancient as civilization itself, but the structured institution we identify as the casino has a more specific origin. Its primary purpose was to regulate gambling during the carnival season. Players, often masked to keep their anonymity, would congregate to play games like Biribi, a lottery-style game, and Basetta, a card game. The inaugural government-sanctioned public gambling house was the Ridotto, established in Venice, Italy, in 1638. This represented a pivotal shift from private, often illicit, gambling dens to state-controlled establishments.