The House Edge and Chuck-A-Luck

Casinos enjoy an advantage over their competitors. The "rake" (or "vig") can be as low as 2 percent. But millions of bets may produce enough money to run the casino. Casinos have invested a lot of money on security, regardless of whether it's a sting or the rogue player. To prevent this from happening, they enforce strict guidelines for players. In addition, they invest in the most advanced technology available.

In any gambling game that is…