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Edward O. Thorp - The Father of Blackjack Card Counting
Edward O. Thorp brought blackjack from the sidelines of casinos, to front and center limelight with his revolutionary book "Beat the Dealer". Thorp earned the affectionate title "Father of Card Counting" by proving that blackjack is a game in which the player really can beat the casino, if only he uses a proper strategy. As a professor of mathematics at MIT, Thorp was fascinated by blackjack. He developed a system of winning based on statistics and probability, using his IBM 704 to create computer models to test his theories. Thorp and his friends Claude Elwood and Betty Shannon put his methods into real-life practice in Las Vegas and quickly realized that they were on the right track. In 1962 he published "Beat the Dealer" making his system available to the masses.
The Theory of Blackjack Card Counting
Thorp's system was based on paying careful attention to the cards that have already been dealt in a one-deck blackjack game. If a player can "count" the cards that have already been put into play, he can make an educated guess on the odds of winning the present hand. His method did not guarantee constant winning streaks, but if a player used his technique and bet more when the odds were good, and less when the odds were in the dealer's favor, in the long-haul, the player came out markedly ahead. This system is known as the Ten-Count System. With the help of Julian Braun, the technique described in the second edition of "Beat the Dealer" is very practical and not difficult to learn. Braun has his own High-Low scheme.
"Beat the Dealer"
Thorp's "Beat the Dealer" book was a NY Times Best Seller. It was so widely read that casinos got scared about losing cash and shifted their rules to avoid his system. Players became indignant, and stopped playing, so casinos quickly reverted to the original playing regulations.
In the latter half of the 1960's, Thorp turned to apply his attention finances and published a book called "Beat the Market" in 1967. He went on to create and manage a hedge fund.
Edward O. Thorp was one of the first people honored with entrance into the Blackjack Hall of Fame. This was an honor well earned. His card-counting legacy will live on in the blackjack game forever.
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