Edward Thorp: The Road To The Blackjack Hall of Fame

Blackjack Hall of Fame

There are many famous gamblers and legends of Las Vegas that have stood the test of time but none more so than Edward Thorp. You may not know his name but you have certainly heard of the techniques that he pioneered on his rise to gambling fame.

Author of Beat the Dealer, Edward Oakley Thorp was born in August 1932. An American mathematics professor, author, hedge fund manager, and blackjack researcher, Thorp pioneered the modern applications of probability theory, including the harnessing of very small correlations for reliable financial gain.

In his book, Beat the Dealer, published in 1964, Thorp used his knowledge of mathematics and statistics to prove that the house advantage in blackjack could be overcome by card counting. His book was published in a time when gambling literature wasn’t as popular as it is today, so Thorp put all his ideas and strategies onto paper in the form of his best-selling book. With content ranging from tips on recognizing cheating to card-counting strategies, Beat the Dealer sold over 700,000 copies and even made its way onto the New York Time Bestseller List.

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The History Of A Genius

Thorp also developed and applied effective hedge fund techniques in the financial markets, and collaborated with Claude Shannon in creating the first wearable computer.

Ninety years old and still going from, Thorp received his Ph.D. in mathematics from the University of California, Los Angeles in 1958, and worked at the Massachusetts Institute of Technology (MIT) from 1959 to 1961. You might recognize MIT as the home of another infamous Vegas character – the MIT Blackjack Team. The MT team made use of some of Edward Thorp’s work, namely his high low system.

Thorp worked at New Mexico State University from 1961 to 1965 as a professor of mathematics, and then joined the University of California, Irvine, where he was a professor of mathematics from 1965 to 1977 and a professor of mathematics and finance from 1977 to 1982.

With all his learning and expertise in the fields of mathematics and finance, it seems only natural that Thorp became interested in the mathematics of gambling. Specifically, the idea that games of chance were unbeatable seemed to intrigue Thorp. While working as a professor at MIT, Thorp found that games like roulette were almost impossible to beat due to each of the spins being independent of each other. As any regular player knows, some wins are in the hands of Lady Luck herself, no matter how much strategy you apply when playing.

However, after having his interest piqued with a statistical journal article about blackjack.

Blackjack Hall of Famer

With the help of an IBM 704 computer and the Kelly criterion, a formula developed in 1956 to find the ideal bet size, Thorp devised the 10 Count System. Thorp and fellow mathematician and gambling friend Claude Shannon also devised the first wearable computer to give players an advantage, a piece of technology that is now illegal.

The Ten Count System was the first of its kind – a card-counting system where the player keeps track of the odds of receiving a 10-value card. The higher the count goes, the greater chance you have of seeing a 10.

Thorp devised this system and, as such, made his way into the Blackjack Hall of Fame in 2002. He was inducted on his first ballot due to his contributions to the strategy of the popular casino game, and has a pretty high net worth, thanks to his gambling and financial acumen.

Counting cards is not an illegal activity but it is frowned upon in most casinos on the strip. Many players have made bank using Thorp’s methods but, after a while, the casino may ask you to leave and could even end up banning you from the premises.

 

The History Of A Genius

Thorp also developed and applied effective hedge fund techniques in the financial markets, and collaborated with Claude Shannon in creating the first wearable computer.

Ninety years old and still going from, Thorp received his Ph.D. in mathematics from the University of California, Los Angeles in 1958, and worked at the Massachusetts Institute of Technology (MIT) from 1959 to 1961. You might recognize MIT as the home of another infamous Vegas character – the MIT Blackjack Team. The MT team made use of some of Edward Thorp’s work, namely his high low system.

Thorp worked at New Mexico State University from 1961 to 1965 as a professor of mathematics, and then joined the University of California, Irvine, where he was a professor of mathematics from 1965 to 1977 and a professor of mathematics and finance from 1977 to 1982.

With all his learning and expertise in the fields of mathematics and finance, it seems only natural that Thorp became interested in the mathematics of gambling. Specifically, the idea that games of chance were unbeatable seemed to intrigue Thorp. While working as a professor at MIT, Thorp found that games like roulette were almost impossible to beat due to each of the spins being independent of each other. As any regular player knows, some wins are in the hands of Lady Luck herself, no matter how much strategy you apply when playing.

However, after having his interest piqued with a statistical journal article about blackjack.

Blackjack Hall of Famer

With the help of an IBM 704 computer and the Kelly criterion, a formula developed in 1956 to find the ideal bet size, Thorp devised the 10 Count System. Thorp and fellow mathematician and gambling friend Claude Shannon also devised the first wearable computer to give players an advantage, a piece of technology that is now illegal.

The Ten Count System was the first of its kind – a card-counting system where the player keeps track of the odds of receiving a 10-value card. The higher the count goes, the greater chance you have of seeing a 10.

Thorp devised this system and, as such, made his way into the Blackjack Hall of Fame in 2002. He was inducted on his first ballot due to his contributions to the strategy of the popular casino game, and has a pretty high net worth, thanks to his gambling and financial acumen.

Counting cards is not an illegal activity but it is frowned upon in most casinos on the strip. Many players have made bank using Thorp’s methods but, after a while, the casino may ask you to leave and could even end up banning you from the premises.

Edward Thorp, The Author

Edward Thorp has written several books on mathematics and finance, including:

  1. “Beat the Market: A Scientific Stock Market System” (1967) – In this book, Thorp lays out a scientific stock market system that he claims can beat the market. He presents a mathematical model for investing in the stock market, based on the principles of portfolio theory.
  2. “The Mathematics of Gambling” (1981) – This book is a comprehensive guide to the mathematics behind various casino games and betting systems. Thorp explains the mathematics of games such as blackjack, craps, roulette, baccarat, and more, and provides strategies for reducing the house edge.
  3. “Beat the Dealer: A Winning Strategy for the Game of Twenty-One” (1962) – In this book, Thorp presents a strategy for winning at blackjack based on card counting. He provides a detailed explanation of how card counting works, and how players can use this technique to gain an advantage over the casino.
  4. “New Concepts in Roulette System Play” (2010) – In this book, Thorp discusses various strategies and systems for playing the game of roulette. He provides an overview of the mathematics of roulette, and explains how players can use this knowledge to increase their chances of winning.

The Mathematics of Gambling - Edward O. Thorp

The Relevancy of Edward Thorp’s Contributions

Thorp’s research and theories on probability and card counting have paved the way for modern day card games and betting strategies. By incorporating his ideas into our services, we are able to offer a more dynamic and engaging gaming experience. Our customers can use Thorp’s methods to increase their chances of winning and enjoy a more strategic approach to gambling.

In addition, Thorp’s work has also influenced the development of advanced software used in online casinos. This software is designed to prevent card counting and provide fair and random gameplay. By utilizing these tools, we are able to ensure a safe and secure environment for our customers to enjoy their favorite games.

At Lucky Creek Casino, we strive to provide the ultimate gaming experience, and that starts with understanding the contributions of experts like Edward Thorp. Whether you are a seasoned gambler or a newcomer to the world of online casinos, Thorp’s impact cannot be ignored. So come join us and see for yourself how his contributions have helped shape the online casino industry.

Play With Us

Lucky Creek online casino is a home away from (or rather in) home for many players, where the wins are wild and the spinning is easy. With our live casino online, you can play many varieties of online blackjack real money and enjoy all the bright lights and excitement of the Strip from the comfort of your own home. When you play live casino online at Lucky Creek, you’ll be living your Blackjack Hall of Fame dreams in no time! Where else can you drive off in the car of your dreams without ever leaving your house? Lucky Creek has been in the business for over two decades now, is legitimate and trusted, and we’re ready and waiting for you to sign up and start winning!

 

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