The Mystique of Monte Carlo: Separating Fact from Fiction

The Monte Carlo Casino is a legendary gambling venue that has entertained royalty, high stakes gamblers and professionals alike. Casino de Monte-Carlo is like Disneyland for gamblers. It has all the bells and whistles, luxurious gaming tables, and brings an elegance to games of chance that can seldom be found elsewhere. So much so, in fact, that the casino’s history is blurred with myths and legends. Even expert gamers may have a few difficulties separating fact from fiction where Monte Carlo Casino is concerned.

If you want to check your facts, learn more about the history of the casino, or, are planning to visit the casino and need some information, you have come to the right place. On this page, we will go through every little detail that you need to know, and throw in some fun facts for good measure.

The History of the Monte Carlo Casino

Monaco is a sovereign city state that is located on the French Riviera. It is a separate country from France, with a size of around 0.8 square miles – that means it is even smaller than NY Central Park (13 square miles). Only 40,000 people live in Monaco, of whom around 10,000 are local, Monacan nationals. The most famous of which today is probably Charles Leclerc, the F1 driver. The House of Grimaldi is the reigning royal family of the Principality of Monaco, and they were directly involved in the creation of the casino.

In the mid 19th century, the House of Grimaldi was in danger of going bankrupt. They needed to raise funds after two towns broke away from the principality. And Princess Caroline, wife to Prince Florestan, suggested they open a casino. Charles, their son, realized his mother’s vision and opened a casino in 1856 called Villa Bellefu. The casino moved several times in the early years, but finally in 1863, French entrepreneur Francois Blanc took over the casino business on behalf of the reigning house. The casino was rebranded as Monte Carlo in Prince Charles’ honor.

Casino Becomes Resort and Driving the Economy

And then in 1865, the Monte Carlo Casino, as we know it today, opened. Blanc formed the Société des Bains de Mer, or SBM, which held the monopoly for gambling in the principality, and continues to run the casino today. With the making of the casino, the building was expanded numerous times. The ultimate goal was not just to provide a gambling hall for royals. But instead, to create a type of gambling resort, the original predecessor of our modern casino hotel mega resorts.

The Casino de Monte Carlo quickly became a hit among the European aristocrats. Extending the French love for roulette, this gambling venue provided all kinds of table games, popular card games, and more. In these early days, patrons could enjoy roulette, baccarat, Trent et Quarante (also called red and black). There were even early variants of poker, and hazard, or precursors to our modern craps games.

It was not reserved for the nobility either. Rich industrialists, merchants, and business owners also visited the casino. And this all benefited the Grimaldi House, which could earn enough revenue from the casino to keep Moncao from bankruptcy. To this day, Monacan nationals don’t need to pay tax because the casino revenues pay it off. And the proceeds of the casino have practically built Moncao’s infrastructure and economy. So the “myth” that Monaco was built on the casino checks out.

Early Exploits and Breaking the Bank

Over its illustrious history, Monte Carlo Casino has seen it all. Gamblers have built fortunes and lost them at these legendary tables, and Monte Carlo Casino continues to be one of the most important gaming venues in the world. The first notable legend at this casino was in 1881 when Joseph Jagger won over 2 million francs over several days. He borrowed money, headed to Monte Carlo, and observed the roulette wheels thoroughly. Jagger noticed that the spinning wheels were not built evenly and that there were traces of wheel bias.

Capitalizing on the biases, he began betting on the “hot numbers“. In this case, the numbers that the bias favored over the others. And Joseph Jagger broke the bank by clearing out the casino’s cash reserve that day. He became the first to “break the bank”. The ploy was discovered and the casino quickly changed its wheels.

But just 10 years later, another man came along to break the bank of Monte Carlo again, but this time under more dubious circumstances. Charles Wells, a well known fraudster, beat the house mainly playing roulette. Some figures claim he won over a million francs and won over 20 roulette games in a row. The details are not public, and probably lost to time now. We don’t know exactly how Wells pulled it off. But given his history, it is most likely that he colluded with the dealer to rig the roulette wheel.

The Monte Carlo Fallacy

The gambler’s fallacy is also sometimes referred to as the Monte Carlo fallacy, because this is where it became famous. In 1913, gamblers lost millions of francs when a roulette ball landed on black 26 times in a row. They fell into the fallacy that previous results affect what happens next. It is quite a counterintuitive belief system, as we all know the chances of the ball landing on red or black is just under 50%. They are equal, so out of 30 spins, you would expect the ball to land on 15 red and 15 black.

But you cannot rule out the fact that at the start of each spin, the table odds are always fixed at 48.64%. Looking forward, the chances of the ball landing on black 26 times in a row are around 1 in 68.4 million. The gamblers all fell into the trap of believing the red win was due. They thought a long streak of red was due, to balance out the results.

Types of Games Served at the Monte Carlo Casino

The Casino de Monte Carlo serves up all kinds of casino games, and not all of them are classic table games. Unlike the myths would have you believe, you can play slots at Monte Carlo, as well as video poker and various types of stud poker. At the Monte Carlo Casino, you can play any of the following games:

• Slots
• Punto Banco
• Texas Hold’em Poker
• Blackjack
• Craps
• Video Poker
• Various Roulette Games

You don’t just have classic table games with real cards and roulette wheels. There are also electronic table games, such as digitalized roulette. These games are powered by RNGs and deliver completely randomised results. So you can forget about wheel biases or dealer collusion here.

Myths You May Hear About Monte Carlo

Having legends and myths helps boost the magical aura around a casino. If you owned a casino and someone claimed that they won millions there, it could be a good publicity or marketing strategy. Or that your venue was used to film a famous scene in a film. Calling them out is not really in your interests. Especially if those casino myths spread, and the tales get taller. So there are myths out there that you may have heard from several sources, and are seemingly true.

• Only rich VIPs play there: Not true at all. You could enter for a price of €10 to €20, depending on what time of day you enter. And the minimum limits are affordable even for players on a budget
• They don’t have slots: Some people claim the casino doesn’t have slots, simply because they are too loud or “not elegant enough”. It’s false, they have had slots since 1962
• The Casino runs 24/7: Unfortunately not true, this is not a Las Vegas Strip casino
• Tuxedos and evening gowns only: The casino has a dress code, but it is a lot more relaxed than some would have you believe.

Fun Facts About the Casino

Then, there are facts about the Monte Carlo Casino that sound practically like they should be myths.

• Monaco nationals can’t play there: Locals aren’t allowed inside to protect them from the dangers of gambling
• James Bond films were shot at the casino: Never Say Never Again (1983) and GoldenEye (1995) were filmed at the casino
• The casino revenue pays off the income tax: Monaco locals don’t pay personal tax. The casino pays for the state’s expenses
• Churches can’t sing the first 36 Psalms: true, and why? because roulette players could read it as a divination to gamble

What to Know Before You Visit

Le Casino Monte Carlo has four hotels:

• Hôtel de Paris Monte-Carlo
• Hôtel Hermitage Monte-Carlo
• Monte-Carlo Bay Hotel & Resort
• Monte-Carlo Beach

SBM also owns spas, pools, hosts events and even has a Monte Carlo Opera and Ballet in the same building as the casino. The resorts are costly, as are any amenities or tickets to events. And if you are planning to visit during the Monte Carlo Grand Prix, be sure to buy tickets well in advance. You will most likely have to pay top dollar to get in. But you won’t have to go out to the racetrack, as the principality is very small and you can watch the action from practically any taller building, terrace or even hotel window.

As the principality is quite small, you don’t need to stay there for more than a handful of days, unless you really want to. And if you are planning to gamble, then make sure you do so responsibly. Just because it is the legendary Monte Carlo Casino, doesn’t mean you have to go all in or hit the high limit tables to soak up the ambience. Stay within your means, and play cautiously.