Anyone with a basic knowledge of blackjack’s illustrious history has heard of Edward O. He’s responsible for developing the first and most common strategic blackjack practice known as card counting, as well as the first wearable computer technology in history. Ed Thorp was one of the original 7 members inducted into the Blackjack Hall of Fame in 2002. From Mathematician to Vegas’ Worst NightmareBorn August 14, 1932 in Chicago, Illinois, Edward Oakley Thorp’s heightened level of intelligence was evident at a young age. After graduating in 1958 from the University of California, Los Angeles with a B.A.
In Physics and a PhD in Mathematics, he immediately crossed the country to take a job at MIT, where we worked for two years.In 1961, he traveled back west to take a job as Professor of Mathematics at New Mexico State University until 1965, and then Professor of Mathematics and Finance at University of California, Irvine until 1977.But in between all that, Thorp was revolutionizing the game of blackjack.Based on research into the 1956 Kelly Criterion, Ed began investigating theories of probabilities and application on one of the first superior computers of his time, the IBM 704. He spent mass amounts of time and energy analyzing the game, and with the help of his trusty room-sized computer, developed a winning blackjack strategy that has survived the test of time – the art of counting cards.Thorp theorized that, by counting the cards in a specific manner, he would be able to significantly increase his odds of winning, especially towards the end of a deck that was not yet subject to reshuffling. Application of Research in NevadaTo test his theories on probability and, what would later be coined “deck penetration” by fellow Blackjack Hall of Famer, Thorp employed the financial assistance of Manny Kimmel.
Kimmel was a professional gambler with ties to the mob, but more importantly, a willing investor, supplying Thorp with a $10,000 bankroll.Edward’s first night at the blackjack tables in Las Vegas didn’t go so well; not because he wasn’t winning, but because he was. It didn’t take long for casino managers to take notice, thereby expelling the mathematician from their premises one after another. Thorp decided to take his game off the Strip to Reno and Lake Tahoe, where he was able to win $11,000 in his first weekend of experimentation.
Thorp Goes Public with his ResearchAfter beating the casinos to such an extent that he was banned from pretty much all of them, even after using various disguises to continue his lucrative research, word of his discovery got out.Edward was more than willing to share his knowledge with the blackjack world, and thus authored the most famous gambling strategy book in history, Beat the Dealer, published in 1962. The second edition of the book (1966) revealed that Thorp’s research was aided with his co-invention of the first wearable computer in 1961.During his time at MIT, Edward teamed up with Claude Shannon to develop the device, which looked like nothing more than a box filled with wires strapped around the waist. Originally designed to beat roulette, the device could be triggered by the tap of his foot, and sent an audible sound to the user via an earpiece. The exact details of the technology were never revealed by Thorpe until 1998 when he published the following manuscript:It’s worth noting that such devices have long since been illegal to use in casinos, but card counting, when performed solely by the mental power of the player, is not.Thorp’s card counting techniques are still in use today by professional blackjack players, but casinos make sure to reshuffle the deck a lot sooner these days in an effort to thwart successful efforts on the part of card counters. Thorp Transitions Theory of Probability to Stock MarketEdward Thorp isn’t just one of the best blackjack players the world has ever known. In the late 1960’s he transitioned his focus from casino gambling to Wall Street.
Edward O Thorp is generally known as the writer of the 1962 Beat the Dealer, which was the main book to demonstrate numerically that blackjack could be beaten via card checking, and the 1967 Beat the Market, which indicated how warrant choice markets could be estimated and beaten. He is viewed as a standout amongst other speculative stock investments chiefs on the planet. He is additionally viewed as the co-creator of the main wearable PC alongside Claude Shannon. Thorp got his PhD from the University of California, Los Angeles in 1958 and worked at MIT from 1959 to 1961. He was an educator of science from 1965 to 1977 and a teacher of arithmetic and account from 1977 to 1982 at the University of California, Irvine. This is THE book that forced Las Vegas to change the rules! Not only the best system to beat the casinos out of big money even today BUT an exciting true story of Thorpe’s around the world adventures with casinos, bosses, sharks, cheats, mechanics and more.
Edward Thorp Options Strategy
Thorpe was Professor of Mathematics at Las Vegas U who enjoyed the random statistics and excitement of the casinos. He was the first to have access to NASA’s super computers for BLACKJACK simulation drills during which he ran millions of possible hands. Out of which comes this book and this system and these exciting true stories. If you ever plan to play 21 in a casino this can change your total outlook — and winnings!