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MIT vs. Las Vegas
spellcheckur writes "Techno-mag-turned-fashion-rag Wired Magazine has an article about
MIT kids counting cards in Las Vegas. I wish I could have made seven figures while I was still in college. Maybe I should get a how-to book." Also, any chance is a good chance to mention The Eudaemonic Pie.
"It takes a small amount of skill to know the right plays and count the cards..."
This isn't as much "normalization" as it is "don't take so many drugs when you're designing tables."
There was an article on Kuro5hin about a year ago dealing specifically with blackjack card counting, and it really is a fantastic read. It discusses the types of people that you find at the average casino, and it doesn't paint a pretty picture.
The travel channel special is just the beginning though: There have been documentaries discussing the fact that the mega media companies, many of whom own one or more huge casinos in Las Vegas, imbue movies with pleasant impressions of casinos regularly: Seldom do you see a casino image that is row upon row of sad, lonely elderly people mechanically pulling the lever for hours on end, wearing diapers not because of incontinence but rather just to avoid having to leave their lucky slot machine (because a win is always just one pull away, right?). Instead it's playboys and girls: Brad Pitt/Jennifer Aniston types winning big.
Greedy fucks at Casino's. They rig the game against you so that you basically can't win (i.e., house has 90% advantage).
If you were to go to The Wizard of Odds You'll notice that the house edge in most games is not 90%. It's more like 2-3%. They know that people are not stupid, and while some games are horribly rigged (Slot machines for example) most of them will give out 97% of what they take in...that 3% they keep is what lets you get a luxury room for $20 / night.
Then, when a few smart people (maybe one out of 1000) come along who can count cards and actually break even or better, they bitch and whine.
Execpt that one person can literally bring down the whole casino if they have an edge. Pretend that you can win 52% of the time. It takes one minute to play one round of blackjack. If you're making $100 dollar bets, you'd be making $240 / hour off of the casino. And to think that they don't let you get away with it.
Its just a technique -- a legal one, as opposed to casino's illegal techniques of winning. Look in Hoyle's rule-books on cards. They won't mention anything about it being illegal to count cards. However, their rules for blackjack don't set it up so that the dealer has a 90% advantage.
I won't debate that card counting is legal, as long as you don't use a computer or calculator. And you're right, they don't set it up so that the dealer has a 90% advantage. The advantage is that the dealer wins should both the dealer and the player bust. There are other little differences as well, but it's not overwhelming.
By the way, does anyone here really think that the dealers don't count the cards? Bullshit. You know damn well they do.
Dealers play by a set of rules. Hit on 16 or lower. Stand on 17 or higher. That's it. Not much card counting.
Furthermore, casinos have a number of tactics to foil card-counting, such as cutting the deck, starting a new deck, or mixing in several decks.
You mean they try to randomize a game of chance? They MUST be cheating
Everyone knows there is a house advantage in the casinos. When you enter a casino, you're on private property, and thus have to play by their rules. If you don't like those rules, you can go to another casino whose rules you like. But good luck finding a casino that will let you cheat.
I've been a blackjack card counter since the late 1970's. I started out using the Revere APC system but switched in recent years to the excellent yet simple Knock-Out unbalanced count system.
:)
This article, as with most Wired pieces these days, has a few grains of truth along with a lot of hype and dazzle. Here's a few points that should be made.
Fact #1: You don't have to be a math genius to count cards. Using the Knockout system, I just start with a count of zero and add 1 to my count every time I see a card with a value of 2, 3, 4, 5, 6 or 7. I subtract 1 from my count every time I see a 10 or face card. The size of my bet changes as the count goes up. It's that simple.
Fact #2: You can't make money at Blackjack unless you already have money. The way the statistics work out, you need a bankroll of approximately 1000 times your minimum bet to have a reasonable assurance that a bad statistical swing doesn't wipe you out. That means about a $5000 bankroll just to sit down at a $5 minimum blackjack table. Playing at that level will net you approximately $17.50 per hour.
Fact #3: It's pretty boring. While everyone else is having fun, you're sitting there playing a game that is the gambling equivalent of working a factory job. It's repetitive and tedious; you get penalized cash every time you make a mistake. Most people find that they don't have the discipline to do this over the long haul.
Fact #4: It's the antithesis of glamorous. The people you meet who are really trying to make money from the casino industry are a pretty unsavory lot. The few who have the discipline, bankroll and skill to beat the casinos also realize that it's important to look just like another player. The professional card counter at a given table is probably the paunchy, middle-aged guy in the "I love Las Vegas" tourist T-shirt.
Fact #5: It's a dying art. In the 70's, the games were so good, that it took very little to get an edge. The casinos aren't run by mobsters anymore though, they're run by Harvard graduates who understand the games just as well as you do. The rules aren't as favorable, more decks are in play, and they're introducing "Universal Shufflers" that have the capacity to destroy the concept of card counting permanently. The casinos make their money from slots now; they don't have to offer a hyper-competitive blackjack game to lure in players.
Fact #6: If you have a large bankroll, the willingness to study, the discipline to stick to your game plan no matter what, you can make some money playing blackjack. If you have all of the above, however, I guarantee you that you can find a better way to make money.
All of that being said, blackjack isn't a bad hobby. Friends of mine like to gamble, and my business sometimes finds me in Vegas. Instead of handing my wallot over to the casino, I instead make some money, have some free drinks and meet interesting people. That's not so bad.
Just don't listen to too much hype from Wired.