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The Inside Story Of Six Students Who Took Vegas For Millions

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Bringing Down the House: The Inside Story of Six M.I.T. Students Who Took Vegas for Millions

by Ben Mezrich

4.6 out of 5

Language	:	English
File size	:	3484 KB
Text-to-Speech	:	Enabled
Enhanced typesetting	:	Enabled
Word Wise	:	Enabled
Print length	:	272 pages
Screen Reader	:	Supported

In the early 1990s, a group of six students from MIT pulled off one of the most audacious gambling scams in history. They used a combination of card counting and team play to win millions of dollars from casinos in Las Vegas.

The story of the MIT Blackjack Team is a fascinating tale of intelligence, teamwork, and risk-taking. It's a story that has been told and retold in books, movies, and documentaries. But the most comprehensive and accurate account of the team's exploits is found in the book The Inside Story of Six Students Who Took Vegas for Millions.

The book was written by Ben Mezrich, a journalist who spent years interviewing the team members and researching their story. Mezrich's book is a gripping read that takes you inside the world of the MIT Blackjack Team. You'll learn how the team members recruited new players, developed their card counting system, and devised their strategies for taking down the casinos.

Mezrich also explores the personal lives of the team members. He tells the story of their struggles with addiction, gambling, and the law. He also examines the ethical implications of their actions.

The Inside Story of Six Students Who Took Vegas for Millions is a must-read for anyone who is interested in gambling, crime, or the power of teamwork. It's a fascinating story that will stay with you long after you finish reading it.

The MIT Blackjack Team

The MIT Blackjack Team was founded in 1980 by Bill Kaplan, a mathematics professor at MIT. Kaplan was a brilliant mathematician who had developed a system for card counting that could give players an edge over the house.

Kaplan recruited a team of students to help him test his system. The team members were all intelligent and skilled at math. They also had a strong work ethic and a willingness to take risks.

The team began by playing at small casinos in Boston. They quickly realized that they could make a lot of money by card counting. The casinos were not prepared for the team's sophisticated system, and they were soon losing millions of dollars.

The team's success attracted the attention of the Nevada Gaming Control Board. The board investigated the team and accused them of cheating. The team members were never charged with any crimes, but they were banned from gambling in Nevada.

The team disbanded in 1993, but its members have gone on to successful careers in finance, law, and academia. Kaplan is now a professor at Stanford University.

The Card Counting System

The MIT Blackjack Team used a card counting system called the Hi-Lo system. The Hi-Lo system is a simple system that assigns a value to each card. High cards (10s, jacks, queens, kings, and aces) are assigned a value of -1. Low cards (2s, 3s, 4s, 5s, and 6s) are assigned a value of +1. All other cards are assigned a value of 0.

The team members would keep a running count of the cards that had been played. When the count was high, it meant that there were more high cards in the deck than low cards. This gave the team an advantage because high cards are more likely to bust the dealer.

The team members would also use a signaling system to communicate with each other. When a team member had a high count, they would signal to the other team members to bet more money.

The Team's Strategies

The MIT Blackjack Team used a variety of strategies to take down the casinos. One of their most effective strategies was the "insurance scam."

The insurance scam involved betting on the dealer's hand going bust. The dealer's hand is more likely to bust when the count is high. The team members would bet on the dealer's hand going bust when the count was high, and they would win most of the time.

The team also used a strategy called "Wonging." Wonging involved entering and leaving a game when the count was favorable. The team members would wait until the count was high before entering a game. They would then play until the count dropped, and then they would leave the game.

The team's strategies were very effective, and they were able to make millions of dollars from the casinos.

The Impact of the MIT Blackjack Team

The MIT Blackjack Team had a major impact on the casino industry. The casinos were forced to change their rules to make it more difficult for card counters to win. They also began using surveillance cameras to monitor players for suspicious activity.

The team's exploits also inspired a number of other card counting teams. These teams have been able to make millions of dollars from the casinos as well.

The MIT Blackjack Team is a legend in the world of gambling. Their story is a reminder that with intelligence, teamwork, and risk-taking, anything is possible.

Bringing Down the House: The Inside Story of Six M.I.T. Students Who Took Vegas for Millions

by Ben Mezrich

4.6 out of 5