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Old 05-25-2011, 06:28 PM   #1 (permalink)
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Checkthisout Man Wins $15 million in Blackjack

Meet the blackjack player who beat the Trop for $6 million, Borgata for $5 million and Caesars for $4 million - pressofAtlanticCity.com: Breaking News
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Old 05-25-2011, 06:35 PM   #2 (permalink)
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"I don't do anything like the MIT guys," Johnson said. "I can figure things out on my own."
What the fuck does that mean? Is he trying to turn luck into a skill?
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Old 05-25-2011, 06:42 PM   #3 (permalink)
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Is he autistic?
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Old 05-25-2011, 06:51 PM   #4 (permalink)
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What the fuck does that mean? Is he trying to turn luck into a skill?
It means he's playing perfect Blackjack which has a 1% edge and the bankroll to weather the storms. Combine that with the fact that he had an amazing streak while playing 100K a hand and it means he doesn't have to cheat to make an insane amount of money.
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Old 05-25-2011, 06:55 PM   #5 (permalink)
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Quote:
"I don't do anything like the MIT guys," Johnson said. "I can figure things out on my own."
What the fuck does that mean? Is he trying to turn luck into a skill?
No, it seems likely he's counting, he just isn't using spotters like the MIT team did. And if he is he is right that he isn't doing anything illegal, card counting is legal, it's just that casinos try and make it difficult to do with things like continuous shuffles so you can never get a count going or 8 deck shoes (knowing that 99.99999% of the population can't count into that).

It seems odd that the casino's are surprised when they're discounting his losses though, that's killing the house edge right there.
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Old 05-25-2011, 06:56 PM   #6 (permalink)
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$5.8 million in 12 hours.. that's not bad at all.
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Old 05-25-2011, 07:32 PM   #7 (permalink)
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good read
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Old 05-25-2011, 07:44 PM   #8 (permalink)
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Yeah, you give me a 20% discount on my losses and I'll play blackjack all day long.

Anyone who knows basic strategy can get the house edge down to ~1%-2%.

So at a normal table, every time I bet $100 the casino expects to make $1.

You give me $20 back every time I lose and the odds swing majorly on my side. Like, ridiculously.

I have no idea why the hell a casino would do that. If I found a $100 table with a 20% rebate I'd rape them all day long too.
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Old 05-26-2011, 06:38 AM   #9 (permalink)
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What the fuck does that mean? Is he trying to turn luck into a skill?
Just means he's a lone wolf. Not working with a team of spotters.

Also, the casinos have nobody to blame but themselves. 20% discount on losses? WTF...
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Old 05-26-2011, 01:10 PM   #10 (permalink)
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Great read. Crazy they would write off 20%
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Old 05-26-2011, 02:15 PM   #11 (permalink)
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That's freaking amazing. The house|casino always have the advantage over the players because they will need to keep hitting until they get good numbers. $15 mil is big chunk of change and that person is pretty much set for life.
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Old 05-26-2011, 05:03 PM   #12 (permalink)
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i need to start black hatting black jack
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Old 05-26-2011, 06:05 PM   #13 (permalink)
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It's good to know that Don Johnson has been keeping himself busy since "Nash Bridges" went off the air.
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Old 05-26-2011, 06:17 PM   #14 (permalink)
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He is obviously taking NZT.
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Old 05-26-2011, 07:27 PM   #15 (permalink)
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Old 05-26-2011, 07:52 PM   #16 (permalink)
 
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$15 mil is big chunk of change and that person is pretty much set for life.
not here in the good ole US of hyperinflation ... that's like 2 loafs of bread and a pint of milk.
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Old 05-27-2011, 03:17 AM   #17 (permalink)
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All this guy has to say is that he did this while on acai berries and colon cleanse. $15 mil into $30 mil.
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Old 05-27-2011, 03:41 AM   #18 (permalink)
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15 mil huh, a great payday lol.
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Old 05-27-2011, 04:39 PM   #19 (permalink)
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reminds me of the movie 21 - winner winner chicken dinner
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Old 05-27-2011, 05:02 PM   #20 (permalink)
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or the Rain Man movie with Tom Cruise and Dustin Hoffman
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Old 05-27-2011, 05:16 PM   #21 (permalink)
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He made a killing! If he wasn't counting I don't see why he said they wouldn't let him come back.
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Old 05-27-2011, 06:56 PM   #22 (permalink)
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20% WTF.

I gotta get friendly with the head comp guy at one of these places. 20% on blackjack no less.

No wonder he was playing $100k hands. Higher variance = bigger wins and loses and the loses are compensated.

Fucking insane.
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If a trash collector can make 7 digits on this, you can too. To read more about this, view this bloomberg article.
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Old 05-27-2011, 07:02 PM   #23 (permalink)
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I'd wager that 1 out of 100 people with the bankroll to play 100k hands has the self discipline not to let emotion start affecting wager size/strategy.

That's (likely) what the casino's were hedging on, and in this case he obviously did.

I would also bet that their bet that emotion would come in pays off more times than not.

Hadn't ever heard of that though - 20% discount - unreal.
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