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Edward Thorp
If there were one person that you'd want to be with when playing blackjack, or when betting on the stock market - it would definitely be Edward Thorp. Edward Thorp is an American mathematics professor who has become world known as an author, blackjack player and hedge fund manager. He wrote the ground breaking book, Beat the Dealer, in 1962 that proved mathematically that blackjack could be beaten through card counting. For this reason, and many others, he is in the Blackjack Hall of Fame.
Getting to the Blackjack Hall of Fame
Edward Thorp received his Ph.D. from U.C.L.A. in 1958, worked at M.I.T. from 1959-61, and then was a professor of mathematics from 1965-1982 at U.C. Irvine. His most important work, at least according to the Blackjack Hall of Fame, was his creation of the card counting system and other ways to break through in blackjack.
Beat the Dealer
His book, Beat the Dealer, showed how you could count cards to raise your odds of beating the dealer in blackjack. He used computers as a tool with his "Ten Count System" and systematically explained his method. Most serious blackjack card counting strategies that are used today are based on Edward Thorp's ideas. When the casinos learned about what Edward Thorp had devised, they upped the stakes by adding four decks to the game instead of one deck. Thorp followed this up with his High-Low Count system which was publicized in his second edition of his book.
Edward Thorp Helps People To Win
Edward Thorp then took his system into the casinos before writing his book to make sure that it worked as he hoped. And it certainly did! He started with $10,000 in seed money and started winning enough that he was asked to leave. Soon, he moved his expertise into the world of the stock market. He published the book, Beat the Market, and taught potential investors how to understand the stock market and to play it in a similar way to that of casinos. He made a fortune in the investment business and in the securities market. He started his own hedge fund as well.
Deserving of the Blackjack Hall of Fame
Certainly, all of these examples about Edward Thorp show that he is a man deserving of recognition. He lives in Newport Beach, California and is the President of Edward O. Thorp & Associates. He has reported that his personal investments have yielded a 20% rate of return over 28 years! He is certainly someone for people to look up to and admire as part of the Blackjack Hall of Fame and as part of the world of well-respected casino winners!
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