Blackjack player beats 3 Atlantic City Casinos for $15.1M

Quote from Kassz007:

Sorry John, I don't understand your post. Are you questioning my claim that the house edge for blackjack is less than 1% because the player busts out before the dealer plays his hand?
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No thats just one observation from watching blackjack hours over years here in AC and LV (while the wife hits those moronic
slots) . I know this is antidotal but i see nothing but losers
that make that 1% figure seem ridicules.
But after giving this some thought it could be possible. One guy winds 5m then the other 1k players lose 5.01m,... theres the 1%casino profit One player wins 500k... 50 players lose $10100
each etc.
So your figure may be right and my observations have been myopic:mad:

cheers
john
 
Quote from Pekelo:

Mr. Johnson would be very wise to take a long European vacation and never set foot in another US casino again.

Odds of Mr. Johnson having an untimely death: 87%
Odds of Mr. Johnson never playing another high stakes black jack in the US: 100%

I would also like to know his losses. Winning 15 mill sounds less impressive when you lost 10 mill in the process....
Even if he never plays again, casinos can be wary that he will sell his method or would mentor other players. Not a very good life insurance outlook....
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He'll get whacked soon...
 
Quote from Appleseed:

No thats just one observation from watching blackjack hours over years here in AC and LV (while the wife hits those moronic
slots) . I know this is antidotal but i see nothing but losers
that make that 1% figure seem ridicules.
But after giving this some thought it could be possible. One guy winds 5m then the other 1k players lose 5.01m,... theres the 1%casino profit One player wins 500k... 50 players lose $10100
each etc.
So your figure may be right and my observations have been myopic:mad:

cheers
john
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Your observation is way off, a much higher group of blackjack players win or flat regularily. Sure, 80% of the players lose almost all the time but they don't play basic strategy. Just grab a basic strategy chart and watch the plays sometime. People do stupid stuff like staying on 16 versus a dealer 10. Or split tens, or fail to double down against a dealer 3-6. Some basic strategy plays aren't even intuitive, like you're supposed to split 2s against a 4-7 but not a 3.

The other thing about blackjack is you get incredible winning or losing streaks if the dealer busts a lot or hits a lot. Even below average players can win a while if they are surrounded by others with good advice. And once in a while, you get a group of strong players and an "unlucky" dealer ( usually the card count is hugely favourable ). In those cases, big winnings for almost everyone.

To be quite honest, if you're not greedy, blackjack is an easy game. You can basically go to Vegas for free if you are any good.
 
You seem to be saying that "if you are any good" you have a positive expectancy. But since that is off the chart absurd ... so absurd that insane is a word that fits, you must be saying something else.

What, if I may ask, is it that you are saying?

Quote from Nine_Ender:

To be quite honest, if you're not greedy, blackjack is an easy game. You can basically go to Vegas for free if you are any good.

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Quote from Nine_Ender:

To be quite honest, if you're not greedy, blackjack is an easy game. You can basically go to Vegas for free if you are any good.
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Yes, all the blackjack books tell you that. There wouldn't be many of them if they didn't.
 
Appleseed, quite probably your empirical experience is correct, as the majority either don't play basic strategy, or deviate from it when unnerved by a run of losing hands or numerous other emotive triggers.

Quote from Nine_Ender:

..a much higher group of blackjack players win or flat regularily.

To be quite honest, if you're not greedy, blackjack is an easy game. You can basically go to Vegas for free if you are any good.
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How do you define 'regularly'? You can't mean over the majority of playing sessions. Since even adhering to basic strategy is a negative expectation under most rules (perhaps all nowadays), the long run destination is certain. Once you factor in expenses, definitely so, and that would also impact the P&L of the average card counter. The bankroll fluctuations can be significant in marginal counting.

I thought that being comped in Vegas was only if you weren't any good!
 
Quote from Visaria:

I read he made $5.8 million over 12 hours at one casino. Assuming flat betting £100k, over 2500 hands (thats about 2-3 hands a minute), the odds of him winning $5.8m are about 10%. Not exactly impossible!!!

(There are plenty of bj odds calculators on the web btw).
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Thats 2.4% on the handle. Not sure he was flat betting. You say the odds of making 2.4% are 10%? You sure?
 
Quote from stock777:

Im waiting for the posts that tell us they have a craps system, a roulette system, a keno system.

wait. its coming
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I have a craps system, it's easy all you have to do is play the pass line and odds only and drink free cocktails faster than you lose money :)
 
Quote from Swan Noir:

You seem to be saying that "if you are any good" you have a positive expectancy. But since that is off the chart absurd ... so absurd that insane is a word that fits, you must be saying something else.

What, if I may ask, is it that you are saying?
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How dare you try to interject logic and sound reasoning into this thread.
 
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