Heard of the MIT Blackjack Team That Beat the Casinos?

When it comes to gambling, everybody loves coming out on top, right? But, back in the 90s, there was a group of MIT students who proved that they could come out on top of the casino itself every single time. This is what the MIT Blackjack Team managed to do.

Card counting was what they called their strategy. Bill Kaplan was one of the men who started this team. He took $1000 in 1977 and came out with $35000 in just 9 months. He then went on to graduate at Harvard and kept playing blackjack all over the world.

His life took quite the turn when a small school of students at MIT heard him talking about his exploits in Vegas. They asked him to train them and later turned into the infamous MIT Blackjack Team.

In 1992, the gambling industry was at its peak and mega casinos were popping up everywhere. His partners saw a chance to make it big too.

Bill’s partners and friends who had earlier seen 100% returns on all their small investments managed to earn $1 million and funded a new company called Strategic Investments which trained bright students in card counting and gambled before unleashing them on unsuspecting casinos.

But, card counting is something that is strictly prohibited and even, in some places, illegal. Therefore, if you were thinking of becoming a multi-millionaire through card counting, think again. It’s not going to work out too well for you. They managed to get away with it back then simply because the casinos weren’t looking for card counters. Nowadays, they will catch you within a few minutes if you’re counting cards. While this is a great story and you can really enjoy reading about it, this is not the kind of story that you can try and emulate in your life. It just won’t work.