Dr Edward Oakly Thorp is a math’s genius who beat the dealer and the market. Born August 14, 1932, in Chicago, he has degrees from various US Universities. He is a math’s professor, author, hedge fund manager and a Blackjack researcher.
Dr Edward Thorp used computers to devise a system for uncovering mathematical advantages at the Blackjack table and thereby proving that it was not a game of luck. He subsequently published a book appropriately titled Beat the Dealer. His bestseller laid out a card counting system that remains in use today.
Testing his Theories
Thorp took to Reno, Lake Tahoe and Vegas to test his theories at the local Blackjack Tables. The experimental results proved victorious, and he won $11 000 in a single week. In addition to his Blackjack activities, Thorp also assembled a Baccarat team which was also victorious. He became an instant celebrity amongst Blackjack aficionados.
While working at MIT as a Professor of Mathematics Thorp met Claude Shannon who co-developed the wearable computer which Thorps Blackjack team wore at the casino as they targeted Blackjack and Roulette. In 1985 with the passing of the Nevada Devices Law the wearable computer got banned from casinos in Nevada.
Thorp also devised the “Thorp Count” which was a method for calculating the likelihood of winning certain end game positions in Backgammon which also turned out to be successful.
In a Nutshell
This Father of card counting and a mathematic genius started a revolution in Las Vegas as well as Wall Street through his card counting techniques and truly changed the game forever. He gambled against some of the greatest gamblers and proved false premise that the house always wins. Thorp’s achievements have led him to become an inaugural member of the Blackjack Hall of Fame.