Blackjack player beats 3 Atlantic City Casinos for $15.1M

[The Big D]

Quote from Swan Noir:

These guys are businessmen running sophisticated public companies not racket guys. The risk reward ratio calculation involved in ordering a "hit" is, I suspect, totally off the charts ... their charts.

Assuming you were earning well into the seven figures would you want to be involved in killing someone just because they figured out a way to pick your pocket?

You shouldn't assume they're rational - for example, the Borgata is partially owned by MGM which is run by Bobby Baldwin, who is notoriously coked out of his skull.

That said, in this case it just doesn't make sense. MGM is walking away from Atlantic city anyways and has always been tolerant of large table game wins simply because it's smart policy. Nothing is going to happen.

 

[ratchorg]

bravo bravo for taking down the house!!!

 

[dunleggin]

Quote from bearmountain:


I believe he came up with some edge and systematically exploited it to extract his large winnings from these casino's.
Martingale is a silly idea someone here came up with, if it were this simple MIT team would have used it years ago.

He, I believe 'waits' for some event then bets big....

Martingale seems a plausible reason to me. If the casino assessed him as a skilled player in terms of employing a known technique with genuine edge, then the pit boss could simply instruct the dealer to shuffle before dealing if he placed a significant bet, no? (I'm not au fait with AC rules, but that's what would happen years ago). And unless he's come up with an edge based on illegal use of technology, it must be very unlikely that a new math-based strategy has been divined.

 

[Pekelo]

Quote from The Big D:

Hitting this guy would do nothing to decrease the amount of blackjack knowledge outstanding. There are plenty of skilled and experienced players out there.

..and yet, we don't hear about them very often. Would you mind naming 5 who have won big consequtively several times in the last few years???

I am not saying one can not make a decent living playing black jack, my point is that Johnson:

1. Was willing and able to bet big. For several good players playing big money can be an issue, either monetarily or psychologically.

2. He might have an unusual approach/skill.

 

[Swan Noir]

I am not assuming rationality I am assuming that almost all C-level executives that sometimes do irrational things draw the line at murder.

Anybody disagree with that?

Quote from The Big D:

You shouldn't assume they're rational -

[/B]

 

[Kassz007]

Quote from The Big D:

This is false - "pass" in craps has a house edge on the order of 2-3%. I don't remember exactly how much, but it's not break-even.

I see you've never played craps before. A pass line bet is different from a pass line odds bet. The pass line bet has a 1.41% house edge, but the pass line odds bet pays even money and is therefore 0% house edge.

The kicker is that you must make a pass line bet before making a pass line odds bet. So no, I am correct. A pass line odds bet alone is a 0% house edge.

 

[Dalmation]

Quote from Swan Noir:

These guys are businessmen running sophisticated public companies not racket guys. The risk reward ratio calculation involved in ordering a "hit" is, I suspect, totally off the charts ... their charts.

Assuming you were earning well into the seven figures would you want to be involved in killing someone just because they figured out a way to pick your pocket?

Exactly. Peko watches too much TV , qoutes "Tony soprano" as an authority and generally
Removed from reality in
Much of his posts.

 

[Kassz007]

Quote from jprad:

The house has a .2% edge with single-deck blackjack and it jumps to .35% with double-deck. An eight deck shoe gives the house a .66% advantage.

The house advantage for a craps pass line bet varies depending on the odds multiplier. A 1x bet has .85% and it drops down to .02% for a 100x bet.

While no casino game has a zero, much less a negative, house advantage, blackjack is the only game that gives the player the best overall odds.

As an overall game, yes, blackjack provides the best odds for the player, provided the player plays perfect basic strategy. But on an individual bet basis, the pass line odds bet in craps is 0% and therefore the best single bet you can make in a casino.

 

[Pekelo]

Quote from Swan Noir:

These guys are businessmen running sophisticated public companies not racket guys. The risk reward ratio calculation involved in ordering a "hit" is, I suspect, totally off the charts ... their charts.

Sure, they are all outstanding citizens. You probably missed my post about the Macao casinos and the family that disappeared after not paying the debts...

To commit a crime successfully (give an order for a hit) all you need is to be far removed from the line of contacts, plausible deniability and lack of evidence. (you know, like the president)
If it was one casino only, I could see that they can just write it off and lesson learnt, but Johnson's skill could threaten the whole fundation of their high stake black jack playing system...

----------------------

It is perfectly normal for 52 year olds to have a heart failure:

http://en.wikipedia.org/wiki/Ken_Uston

This was the Blackjack Man, directly responsible for the casinos introducing multiple decks.... Johnson could be the next Ken Uston, imagine how the casinos would like that. Oh yeah, you do have to read the article...

 

[Kassz007]

Quote from Wayne Gibbous:

No he is correct. But only if you are talking about putting "odds" behind your pass bet. Just the odds bet has no house advantage, but you can't get there without coming out first. Then the sum total is, of course, negative for the player.

Correct.