Blackjack player beats 3 Atlantic City Casinos for $15.1M

Quote from stock777:

despite the protestations of the self appointed 'ex perts' here, this story makes it sound like the 20% rebate was key


http://www.pittsburghlive.com/x/pittsburghtrib/ae/s_742649.html
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confirms my spark of intuition dated back to 06-06-2011:

Quote from shortie:

it appears that 200K compensation for the loss is a huge advantage. for a given set of conditions (bankroll, stake size, house rules) there must exist optimal PL(s) where the player with this insurance should stop the game to maximize his chances.

Prof. Micky "Shortie" Rosa Out :cool:
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Quote from scorpion:

rebates are for players that bet a large sum of money to my knowledge. the average gambler does not qualify for these rebates. no edge. you loss your money..
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Your post is confusing. To the skilled gambler, blackjack is advantage player. This is mathematically proven decades ago.
Who cares about the average player.

What you should strive for is to be the skilled gambler who can count cards and then blackjacks pretty easy. Might not be a great get rich scheme, but its a nice game the house pays you to play.
 
Some won big in blackjack out of billions the same way someone won the lotto out of billions. Does he have an edge? Probably not. Probably he was just lucky. Next time if he tries to play he may lose it all. Actually, we don't know how much he spent to win this much. Maybe his profit factor is still under 1.
 
Quote from alexandermerwe:

Some won big in blackjack out of billions the same way someone won the lotto out of billions.
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Actually, not. In lotto you can count on big winners sooner or later. Please list the big winners in black jack, who played alone and not in a team. (so luck was involved instead of skill)

But I agree with the rest, he could have easily dropped 5-8 mill or more to gain the 15 mill, nobody mentions the losses....
 
Quote from Pekelo:

Actually, not. In lotto you can count on big winners sooner or later. Please list the big winners in black jack, who played alone and not in a team. (so luck was involved instead of skill)

But I agree with the rest, he could have easily dropped 5-8 mill or more to gain the 15 mill, nobody mentions the losses....
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I find it more interesting that the "winner" is a high-end professional gambler. From the article:
"Johnson, 49, of Bensalem, Pa., is the chief executive officer of Heritage Development LLC, a Wyoming-based company that uses computer-assisted wagering programs for horseracing."
 
to clarify about the rebate. its for players betting large sums of money probably over 100 k per visit would be my guess. that's my reference as far as ( average) which are the small dollar amount bettors that gamble in the casino. you have to bet high amounts & your losses may qualify for a rebate. a pity move by the casino to make the player with losses feel better in my view.
 
Actually in AC some casinos allow the host to grant cash rebates -- 5% or even 10%) to smaller (much smaller) players. They do this after a player has had repeated losses, the can see he is clueless and simply do not want to lose him.

They take care of whales and proven losers. Sounds like their math was weak on at least one whale. I bet the math always works with the clueless.

Quote from scorpion:

to clarify about the rebate. its for players betting large sums of money probably over 100 k per visit would be my guess. that's my reference as far as ( average) which are the small dollar amount bettors that gamble in the casino. you have to bet high amounts & your losses may qualify for a rebate. a pity move by the casino to make the player with losses feel better in my view.
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i guess gamblers always feel a bit better when they get back some of their losses. the casino does what it takes to keep you coming back to play if your risking enough money to make it worth while for them.
 
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