I don't see how trying to slot casinos into the market model would help understand them any better than simply understanding them as casinos. There isn't much of a liquid market of betting in a casino. Compare with Wall Street and its endless array of derivatives and hedges and mutual funds and all that stuff to... $25 on red. Wall Street may have elements of betting, but it's also a lot more. Casinos are much simpler.
There actually is. If you read the sites for serious gamblers, they pay lots of attention to the exact rules in place, especially for blackjack. It's defiantly not a commoditized industry.
The gamblers visit the places with the best rules. If you're playing blackjack at $500 a hand, playing against a 1.1% house edge instead of a 1.2% house edge matters.
