The casino still enjoys its reputation as the most famous and the most prestigious in the world. How important has Monte-Carlo been to Monaco? Until recent years, it was the primary source of Monaco's economy, which began diversifying in the 1990's. The lore of a fascinating history, with its Grimaldi royal traditions dating back 700 years, the invigorating and pleasant Mediterranean climate, the romantic and spectacular land and seascapes, the thrilling Monaco Grand Prix Formula One races annually, and the Monte-Carlo Casino and complex – all continue to attract visitors from around the world as an unrivaled recreation mecca and a most glamorous tourist and gambling destination. It was patterned after the famous German Bad Homburg casino and became the foundation of present-day Monte Carlo, named after Charles III. This resulted in the development of a casino, hotels, an opera house, and a theater under the auspices of the Societe des Bains de Mer.
Casinos and gambling came about in in 1863 when Grimaldi Prince Charles III established Monaco as a center for tourism and gambling in response to an economic crisis. Monaco has one gambling destination, as most people know, and that is Monte-Carlo. Betting on sports futures, props and lay bets.
