Casinos at the mercy of mathematics geniuses...
We all know that on balance, the casinos get the better of the player more often than the corollary occurring. Every casino game has an in built mathematical house edge and that will give rise to a return to player rate tending to less than 100% the longer you play . It's an unfortunate fact of life, and one not so subtly evidenced by the fabulously extravagant structures that our gambling habits are able to fund (with profit to spare!).
It's always great to hear of an instance where the table are turned, if only for a brief moment, and players are able to give the casinos a taste of their own medicine. And I'm not talking about a lucky streak, or a jackpot being hit...this is the sort of stuff the casinos expect and generally enjoy have happen as more often that not the winning are just ploughed back into the casino, of at the very least provide great publicity that the casino is a place to make easy money.
No I'm taking about the situation where an elite mathematical genius combines with an understanding of the game of blackjack and all associated probabilities, to produce a situation where the player knows that he can play with an edge on the house, and the ruthless execution of a resulting strategy to take the casinos to the cleaners. It as happened...read on.
MIT Blackjack Team
In the 1990's, a group of mathematics whizzes studying at the prestigious Massachusetts Institute of Technology trained themselves to become expert card counters and shuffle trackers. Employing their blackjack system they managed to win millions from a number of unsuspecting casinos, who subsequently spent a great deal of time and money trying to keep the MIT Blackjack Team away from their tables. The media soon caught wind of the MIT team's escapes and the extent to which they had taken casino around America to the cleaners, and they instantly became world famous and became entrenched in gambling folklore.
The MIT Blackjack team took the art of card counting to a new level, employing team tactics to ruthless effect to ensure full opportunity would be taken of the prevailing count, while at the same time making it harder for the casinos to detect the fact that any counting was happening. Each team member would have a specific task. There was the "Spotter" the "Gorilla" the "Big Player" and the "Back Spotter". The team was able to achieve an average profit percentage ranging from between 10 and 20 percent per gambling foray, translating to wins on big weekends of up to $400,000....and these were kids in their early 20s!
To read more about the MIT Blackjack Team, click here.
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