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The MIT Blackjack Team was a group of students and ex-students. The students were from Massachusetts Institute of Technology, Harvard University, and other leading colleges; they used card counting techniques and more sophisticated strategies to beat casinos at blackjack worldwide.
Colin Jones is an American blackjack card-counting expert, teacher, and entrepreneur. He was a founder and manager of The Church Team, a successful blackjack card-counting team based in Seattle, Washington, which won approximately 3.2 million dollars from casinos between 2006 and 2011. [1]
The primary goal of a card counting system is to assign point values to each card that roughly correlate to the card's "effect of removal" or EOR (that is, the effect a single card has on the house advantage once removed from play), thus enabling the player to gauge the house advantage based on the composition of cards still to be dealt.
Since this took place at a time when card counting was well understood by casino executives and managers, and since the primary clue by which casinos detect card counting is a card counter's "bet spread" pattern, most card counters would also consider Uston a genius of disguise, and/or "card counting camouflage".
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The system worked especially well with mini-baccarat, in which players are allowed to track cards openly. They later expanded to blackjack , in which the betting limits are higher but card counting is forbidden at most casinos; the group hid wireless microphones and earpieces on themselves to communicate with conspirators using computer ...
Francesco's brother, also a skilled card counter, was playing blackjack and betting $1 per hand and upping his bet to $5 when he felt the remaining deck held an advantaged count for him. Al Francesco, standing nearby, would watch for his brother's signal, and then join mid-game by backing his brother's bet with an even larger wager of his own.
The episode "Professor Blackjack" is about MIT professor Edward O. Thorp's (portrayed by Jonathan Dickson) computer-based research on the Kelly criterion that was applied in real Vegas casinos in the form of computer aided card-counting schemes with very successful results. Manny Kimmell (portrayed by Peter Salzer), a known mob associate ...