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MIT produces a Blackjack Team
Every university naturally has its own clubs and its own organizations; some universities even have teams or groups that are unique to that university alone and often those unique extracurricular gain the university and its team a sort of notoriety. A school like MIT produces a disproportionate number of computer scientists and programmers and mathematicians. It's one of the least understood and most ignored populations in American society, but it is one of the most individual, unique, intelligent and interesting communities in the entire country with a high level of production. MIT does indeed have its own unique organization - its Blackjack Team.
The Beginnings of the MIT Blackjack Team
The original MIT Blackjack Team consisted of a group of current (at the time) and former MIT and Harvard University students. The original goal of the group was to make use of such strategies as card-counting to improve their fortunes in Blackjack. The beginnings of the MIT Blackjack Team were established around 1979, after a mini-course was taught in January of that year at MIT entitled How to Gable If You Must. The original group planned to travel to Atlantic City in the spring of that year to test out their new knowledge; these first attempts were not so successful and most of the group went their separate ways after graduation that year - all except for two students with a particular interest in the subject matter. These two students decided to offer their own mini-course on card counting the following January.
The Success of The MIT Blackjack Team
A month or two previously, in the last months of 1979, a man by the name of "Dave" contacted one of the original players and began to organize a new group trip to Atlantic City to test out strategies again after months of intense practice and study. This time, the group's efforts paid off royally and they kept winning and winning. Other trips after this reached differing levels of success and Dave eventually ended up leaving the group. The remaining players, however, continued to play, at least recreationally.
Nevertheless, in 1980 several investors approached the remains of the team and agreed to put up the money to continue the team, as long they instituted strict standards for player entrance and membership, intense training and a betting and strategic doctrine of sorts when they went to the casinos to play. This last piece was a result of an observation session in Atlantic City in which one of these investors watched the team play and found that each member was using a different - and complicated - betting system and card-counting strategy. In 1980, the first team bank was established for Blackjack play with a value of around $89,000.
The team continued to play, with differing levels of commitment through the 1980s and 1990s.
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