Recently I finished a book called The 21st Century Card Counter (see: Amazon link). In case you’re wondering, I was interested in this not because I plan on playing Blackjack professionally but because I’ve been fascinated by the idea of card counters. Sometimes you gotta let curiosity lead you.
Fun fact: one of the things the author is famous for is running the “Church Team” that won $3.2 million from casinos. The team was named for the fact that they all knew each other from church. There’s even a documentary about them called “Holy Rollers.”
The logic in the book is fascinating and can apply to a lot of areas in life. One of the themes is that card counters are looking to generate something called ‘positive expected value.’ Expected value is the “amount you expect to win over a given time period, based on the pure math of your playing decisions and the variables of the game that don’t change.” This is what gives a card counter an edge over a casino and why they are technically an investor rather than a gambler.(more…)