Beat The Dealer

In 1962, an American Mathematics Professor by the name of Edward O. Thorp, wrote a book called Beat The Dealer. It was a book that will find it’s way into any gambling hall of fame. It changed the game of Blackjack forever, as Thorp described, for the very first time, how mathematics could prove that the game of Blackjack could be beaten. It was the first-time, in print, that the world got to see the possibilities of the house edge being blunted by the sword of the professional card counter.

The online casino book was such a phenomenal success that it made the New York Times bestseller list. A feat that is rare for books that belong to a specific niche as Beat the Dealer quite obviously did. It is believed that the book has sold over one million copies and is the card-counting bible.

Thorp used an IBM computer, known as the IBM 704, whilst simultaneously scrutinising the Kelly Criterion, during the period of time leading up to the completion of the book. The Kelly Criterion was a piece of work created in the 1950s by J. L. Kelly Jr. that used a formula to determine the optimal bet sizing’s based on probability theory.

When Thorp was convinced that his theory was sound he ventured into the casinos around Reno, Lake Tahoe and Las Vegas with the help of a professional gambler called Manny Kimmel. Thorp’s work became an instant hit. So much so that he was soon barred from most gambling establishments and had to resort to a series of disguises in order to continue playing. Beat the Dealer was released not long after this period of time.