What strategies did the MIT Blackjack team use to win millions?
The MIT Blackjack Team employed card counting, shuffle tracking, and individual card tracking through shuffles to gain its advantage over the casinos. More importantly, it was its sophisticated management and business practices, financial structure, player training methods and supervision, and compensation terms and incentives that it enabled it to consistently win millions from the casinos throughout the 80’s and 90’s. At its peak, the team reached 80 players with sometimes up to 30+ players playing at any given time in casinos throughout the world. The team was founded by Bill Kaplan, a Harvard College and Harvard Business School graduate, who started the team in 1980 based on the business structure and playing strategies he had utilized to found and run his successful Vegas-based team from 1977-1980. Sources: http://www.inc.com/magazine/20080801/luck-is-for-losers.
