How much did the MIT Blackjack team make?

A gambler who loathes risk, Bill Kaplan ran his famed MIT Blackjack Team like a business and left the table with more than $10 million in winnings. Can the lessons learned in Las Vegas work for a real company?

How much did MIT card counting team make?

After a few months of hard work and a great deal of success, their bankroll had reached nearly a quarter of a million dollars, which gave investors a 250% return on their investment and allowed the team to pay its players about $80 an hour.

How much did MIT students make in blackjack?

"They took over $400,000 in one weekend out of the casinos in Las Vegas," says Gordon Adams, a casino security investigator. The team used a method known as card-counting, which helps players predict when the cards being dealt will be favorable to them.

How much did Jeff Ma make in blackjack?

Ma started flying to Vegas with the team on weekends, winning at blackjack by counting cards. He got good at it — so good that he became one of the team's top players, helping the team win around $5 million during the seven years he was part of it.

Why did the MIT Blackjack Team stop?

While the profits rolled in, so did the "heat" from the casinos, and many MIT Team members were identified and barred. These members were replaced by fresh players from MIT, Harvard, and other colleges and companies, and play continued.

Breaking Vegas Documentary: The True Story of The MIT Blackjack Team

Does anyone make a living playing blackjack?

In reality, yes, plenty of people have earned their livelihood playing blackjack -- for the past 50-plus years. But it's not like they walk into the casino with $1,000 and walk out with $2,000 every day. Card counting provides a small edge over the house, typically 1%-2%.

Has anyone gotten rich from blackjack?

Don Johnson won nearly $6 million playing blackjack in one night, single-handedly decimating the monthly revenue of Atlantic City's Tropicana casino. Not long before that, he'd taken the Borgata for $5 million and Caesars for $4 million. Here's how he did it. Don Johnson finds it hard to remember the exact cards.

Who is the most successful blackjack player?

1. Don Johnson. Don Johnson is well-known for winning over $15 million in six months against three casinos in Atlantic City. At one occurrence, he bet $100,000 and received two eights, which he divided.

Who is the biggest blackjack winner?

Who is the richest blackjack?

Bill Benter net worth: $1 billion

Benter's degree in Physics and his knowledge in Mathematics helped his career early — in fact, the richest gambler in the world was so good at blackjack that he was banned from the majority of Las Vegas casinos after seven years of winning.

Did Ben from 21 get the scholarship?

NOTE: This spoiler was sent in by Nina. The movie begins with Ben (Jim Sturgess) being interviewed by a scholarship committee member. It is for a complete full-ride scholarship to Harvard Medical School, which Ben has already been accepted to, pending his graduation from MIT.

Does the MIT Blackjack Team still exist?

In 1984, Kaplan became so recognizable that it was difficult for him to play anymore so he left the team. Finally, around 2000, the MIT teams ceased playing and players went on to other careers.

Are blackjack dealers good at math?

Blackjack dealers often have competence in mathematics, which empowers them to calculate the earnings of winning customers accurately. They also use mental math during the game. When guests flip over their cards, the blackjack dealer can count the value of the cards quickly, which maintains the momentum of the game.

Did MIT students beat Vegas?

It tells the true story of six M.I.T. students who turned into high rollers on weekends, using a sophisticated card counting system that the casinos in Vegas simply couldn't figure out. Ben Mezrich went underground with the infamous M.I.T. blackjack team to observe how they beat the house to win millions in Las Vegas.

Is Ben Affleck good at counting cards?

“SIR, NO MORE BLACKJACK PLEASE”

And this is exactly what happened to Affleck! He knew that if he spent enough time learning the craft of counting cards, he could improve his odds and beat 'the house'. So, instead of spending his spare time rehearsing his lines, the star actor became a master of Blackjack.

Who started the MIT Blackjack Team?

For most people, gambling is a fast way to lose money while slurping down free (well, sort of free) drinks. But for a few years in the 1980s, Bill Kaplan and a few associates figured out a way to clean house and rake in cash, and thus, the legend of the MIT Blackjack Team was born.

Does a players 21 beat a dealers blackjack?

If the dealer's hand exceeds 21, all players with 21 or less win. If your hand is higher than the dealer's, without exceeding 21, you win. If you have the same total as the dealer, it's a push—even if you got blackjack. A Blackjack will beat 21.

Can you become a millionaire off blackjack?

Edge on your side

The statistics show that the edge in blackjack is certainly on your side. Don Johnson became a millionaire after he started playing this card game from the mid-1990s.

Who has lost the most money in blackjack?

He's known for playing eight hands at a time and once won $40 million in a single night. Naturally, lady luck being fickle, Packer also has the biggest blackjack loss ever to his name. He is said to have lost $10 million in a single night at the tables.

What is the best number to hit in blackjack?

When holding nine or less or 12-16 it's best to hit, but stand on a total of 17 or more. If the dealer's card is a four, five or six it is vital you do not bust. It is common practice to hit on eight or less, but stand on anything 12 or higher.

How much do blackjack dealers in Vegas make?

How much does a Blackjack Dealer make in Las Vegas, Nevada? As of Mar 25, 2023, the average annual pay for a Blackjack Dealer in Las Vegas is $30,142 a year. Just in case you need a simple salary calculator, that works out to be approximately $14.49 an hour. This is the equivalent of $579/week or $2,511/month.

Who has won the most money in Vegas blackjack?

$40 million is more than most people will see in their lifetimes, yet Australian businessman Kerry Packer took that home in under an hour by playing high-stakes blackjack at the MGM Grand in Las Vegas. Packer bet $25k per hand and played eight hands at the same time. Talk about multi-hand blackjack!

What is the success rate of blackjack?

What are the odds of winning Blackjack? The odds for a player winning in a game of Blackjack is 42.22%. The chances of a dealer win is slightly higher at 49.1% with the remaining 8.48% being for the odds of a tie.

How much can a professional blackjack player make?

The more hours you play, the lower your average bet needs to be. As a professional, you'll have approximately a one-percent edge over the house, and earn about one-percent of your total wagers. If you play 100 hands per hour and vary your bet from $5 to $50, your average bet will be what you earn: about $20 per hour.