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Since then, Macau has become known worldwide as the "Gambling capital of the world"   or " Monte Carlo of the East". Visitors are made up largely of Chinese nationals from mainland China and Hong Kong.
With the entry of large foreign casinos from Las Vegas and Australia , Macau overtook the Las Vegas Strip in gambling revenues in Until Western-style casino games were introduced in the 20th century, only Chinese games were played, the most popular being Fan-Tan.
Generally, gambling in Macau can be divided into one of four categories: casino games , greyhound racing , sports betting , and lotteries.
At the present time, Macau does not license online gambling operations. Macau, a special administrative region like Hong Kong , is the only place in China where casinos are legal, and the business has grown at an astounding pace since , when the government ended the four-decade gambling monopoly of the Hong Kong billionaire Stanley Ho.
In an attempt to generate revenues for the government, gambling in Macau was legalized by the Portuguese government in It is reported that over gambling houses were required to pay gambling rent to the government.
The industry saw a major breakthrough in when the government granted the monopoly rights to all forms of gambling to Sociedade de Turismo e Diversões de Macau STDM , a syndicate jointly formed by Hong Kong and Macau businessmen.
Macau was transferred to the People's Republic of China in and became a special administrative region of China. During this transition, there were no changes to gambling policy in Macau.
Today, there are 16 casinos operated by the STDM, and they are still crucial in the casino industry in Macau. The so-called " Monte Carlo of the Orient", Macau's economy relies heavily on gambling.
The percentage remained steady until the late s. In , Then there was a 9. In , the government signed concession contracts with two Macau gaming companies, Wynn Resort Ltd.
This opened the gambling market for competition and increased government tax revenue significantly. It also attracted more tourists to Macau. However, the gambling industry is also a source of instability in the Macau economy, as the nature of gambling business is not susceptible to technological advancement or productivity growth.
The gambling business is still dependent on the prosperity of other Asian economies, especially that of China.
Due to Xi Jinping 's promise on cracking down of corruption across mainland China, casino profits from across Macau have been reporting a decline in monthly profits  In addition, a proliferation of other gambling venues in the region is drawing the target demographic away.
In casino earnings reached their lowest level in three years. Macau has 41 casinos as of , of which the biggest is The Venetian Macao.
They all operate under a government franchise and under a common set of rules. A wide range of games are available, including roulette , blackjack , baccarat , boule , Sic bo , Fan Tan , keno and slot machines.
Poker was introduced only in August , in an electronic table format at Galaxy Starworld casino. Shortly thereafter, in January , the government of Macau published the official rules for Texas hold 'em poker games in Macau.
In February , Grand Lisboa Casino added the first live-dealer cash game tables. Other than casinos, there is betting at the Macau Jockey Club and the dog-racing Canidrome.
The race-course has an area of , square metres and 18, seats for gamblers, and is open only for people over 18 years of age. In , it was acquired by a consortium led by Stanley Ho.
The Macau Jockey Club is one of the largest private employers of Macau with around 1, employees and around 1, part-timers. There are over betting terminals "on-course".
All terminals can perform sell and pay functions. Punters may bet in Hong Kong dollars or Macau patacas.
Bets are accepted up to the start of each race. Punters may place a bet by oral instructions or by filling a ticket.
There are over 80 betting terminals in the Off-Course Betting Centres. The Internet betting service commenced on 20 September Customers can review the Club's internet betting website at www.
There are over telephone service terminals and a total of over 38, telebet accounts. The winning dividend of account holders may at their instructions be automatically transferred to their bank accounts.
Launched in June , the personal betting terminal, FAT Fast Access Terminal offers betting, calculation of bet units, record tracking of bets, account enquiry, withdrawal instructions and other related information on races such as declaration and race-odds.
Close to 1, customers are currently using FAT. The casino industry is viewed by some as harmful to society. A high crime rate was one of the biggest problems that Macau's colonial Portuguese government had to face.
Since Macau's return to China's rule in , the public security situation has markedly improved. With the growth of the casino industry, a business called "bate-ficha" was developed and it is usually run by different triad societies.
The bate-ficha business is an element of triad involvement in Macau's gambling industry. Bate-ficha involves selling customers "dead chips" that cannot be exchanged for cash in the casinos, but only by bate-ficha men or women, who are officially known as "gaming promoters" or "middlemen" for a commission.
Triad involvement in Macau casinos makes a serious social impact on the local area. It attracts the attention of Chinese gangsters, whose deadly battles over the fortunes to be made from racketeering and extortion in the territory are a continuing problem.
As different triad societies compete for controlled territory in the casinos and on the streets, disputes between societies occur from time to time.
These are often settled in violent ways. Even worse, triad societies have grown so powerful in Macau that there was a trend that people tried to seek help from these societies rather than from the police.
Although the situation has improved since the handover to China, the problem is still entrenched in the local area. Detailed law is enforced in Macau to ensure "qualified operation of gambling" in Macau.
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