The Fair Casino Fight: Using Your Wits to Win
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This week, we are looking at the crème de la créme of casino players. The casino's profit is represented by the house edge. This is the margin of money that stays at a table when all the bets are paid.
Edward Thorp is the father of card counting and the man who invented the original system. He used Fortran and IBM 704 computer to program a massive computer and discovered that the probable outcome of a hand was related to the cards remaining in the deck. If there were a lot of picture cards in a deck, the player had a 1% to 5% advantage over the house. The casino bosses were mystified and asked him to leave. Thorpe went on to make millions on the stock market and was inducted in Blackjack Hall of Fame.
Garcia-Pelayo made millions playing roulette. He exploited wheel bias. The court ruled in his favour. He was banned by every casino on the planet. In Las Vegas he used the same method and made a million. It was a case of using ‘ingenuity and computer techniques’.
Dominic LoRiggio is a skilled craps player. He learned to throw dice to order. He would toss the dice so they stayed together in the air and took a gentle bounce off the back cushion.
Andrew Napier bought his dream car thanks to money he made playing online casinos. He stuck to the house rules and cleaned up. He won. The Fair Casino Fight is about using your wits to win.
