Coin tossing 4 3. Thorp is an American mathematics professor, hedge fund manager, and blackjack player. Thorp was born in Chicago, Illinois on August 14, 1932. I was intrigued. 99/year Edward O. ) Blackjack Hall of Fame. A croupier deals a card on a blackjack table at a Gaming Partners International Corp. ThorpThorp beat the casinos at Blackjack and Roulette, set up the first market neutral hedge fund, Princeton Newport Partners, and pioneered strategies like convertible arbitrage. This collection comprises the papers of Edward O. The list price is $8. Edward O. I. Beat The Dealer: A Winning Strategy for the Game Of 21. A pioneer in modern applications of probability theory, Thorp’s bestselling book, Beat the Dealer, mathematically proved that the house advantage in blackjack could be overcome by card counting. But for nearly everyone it stays as a dream – mainly because we don’t have the. This instant collector’s item includes a foreword by blackjack legend Edward O. Ed Thorp (Photo Courtesy of Ed Thorp) Noticeably absent from this year’s Blackjack Ball was Professor Ed Thorp. It is an odd combination of 1) an explanation of how the author performed certain magical intellectual. Synopsis. Known as “the father of card counting”, Edward Thorp invented the original system and later used it in real-world. Beat the Dealer is the bible for players of this game of chance, containing the basic rules of the game, proven winning strategies, how to overcome casino counter measures and spot cheating. In 1962, Edward Thorp published his findings of an optimal blackjack strategy using a high-speed digital computer. Thorp was born in Chicago, Illinois on August 14, 1932. Beat The Dealer: A Winning Strategy for the Game Of 21. Thorp. Anything by Arnold Snyder is a good starting point for most novice players. Les Golden, the celebrated blackjack, roulette, and craps columnist for Bluff Europe, Gambling. To beat roulette, he and the father of information theory, Claude. Schneiderman. Thorp, Edward O. Thorp is a mathematics professor, author, hedge fund manager, and blackjack player. A Dozen Lessons on Investing from Ed Thorp. Having brushed shoulders with casino mobsters and survived, he shared his secrets with the world, launching a gambling renaissance. On a single deck, if you are otherwise good at blackjack, it would really give you an edge. He is considered by many as the Father of Card Counting. Thorp’s first card counting system, called the 10 Count System, was the first publicly known system to be mathematically proven. Thorp's Real Blackjack is a game in which Edward O. Thorp. Beat the Dealer by Edward O Thorp (pp. 2690 E Main St, Bridgeport, CT 06610, USA. Las Vegas: Huntington Press, 1999. The author of Beat the Dealer and Beat the Market, he went from math professor and blackjack whiz to renowned hedge fund manager. “Edward O Thorp is the author of Beat the Dealer, which was the first book to prove mathematically that blackjack could be beaten by card counting, and Beat the Market, which showed how warrant option markets could be priced and beaten. Edward Thorp. thorp ch 8 optimal investment and consumption strategies under risk for a class of utility functions, pp 91-111 nils h. However, history has some great professional. Introduction 387 2. Years. It was the first widely available publication that gave a firm mathematical proof on how a player could beat the game of 21. Blackjack strategy. Edward O. Earlier Strategies After publishing this section, somebody accused me of stealing the idea from Edward Thorp. Beat the Dealer by Edward O Thorp (pp. Shutterstock. ArticlesEdward Thorp was the first person to employ the Kelly Criterion, or “Fortune’s Formula” as he called it, to the game of blackjack. " Harry. It uses decks of 52 cards and descends from a global family of casino banking games known as "twenty-one". Investors can tilt the playing field by getting this edge and generate superior long-term returns, he reasons. More than twenty years after the publication of Beat the Dealer, the best-selling book on winning at blackjack, Dr. Subscribe to newsletters Subscribe: $29. Kassouf, influenced securities markets around the globe. Thorp. Thorp is the father of card counting, and in this classic guide, he shares the revolutionary point system that has been successfully used by professional and amateur card players for generations. Thorp is credited with being the first person to mathematically prove that card counting could be used to win the game of blackjack. Ông là một giáo sư toán học người Mỹ, tác giả sách, nhà quản lý quỹ đầu cơ và nhà nghiên cứu bộ môn Blackjack. Thorp’s system titled the stakes, giving players about a 2% edge over the house. Dr Ed Thorp, born in 1932, tells his incredible life story 1. The revelation comes in Thorp’s new autobiography, A Man for All Markets, published this week. エドワード・オークリー・ソープ（Edward Oakley Thorp、1932年 8月14日 - ）は、アメリカ合衆国の数学者。 エド・ソープとも呼ばれる。彼は、数学理論をブラックジャックなどのカジノゲームに適用したことで有名である。 金融工学者としても知られている。Even if you don’t know the name Ed Thorp, you know his work. Source: 'Blackjack Attack,' third edition by Don Schlesinger. Ed Thorp used math to become the first person to beat the casinos at blackjack. Cantey, and the serious treatment of blackjack that given to date. ?? He meets John Kelly, Jr. “The first thing people who have control do is tilt the playing field. Edward O Thorp is widely known as the author of the 1962 Beat the Dealer, which was the first book to prove mathematically that blackjack could be beaten by card counting, and the 1967 Beat the Market, which showed how warrant option markets could be priced and beaten. Basic strategy. He is also the author of A Man for All Markets: From Las Vegas to Wall Street, How I Beat the Dealer and the Market. C. Transcript. 00. Math has never been cooler than in the presence of Ed Thorp. Edward O. His emphasis on quantitative. Thorp, 2018. Earlier Strategies After publishing this section, somebody accused me of stealing the idea from Edward Thorp. In blackjack, players want to see low-value cards leave the shoe and high-value cards remain in. Living on a teaching assistant’s stipend from UCLA and following a cheap. His father fostered this exploration, even during the lean years of World War II, giving him advanced books to read and treating him to special gifts, including a mineral set Ed fondly recalls experimenting with during. While in Vegas, they would usually play blackjack and some roulette as well. Coin tossing 388 3. Ken Uston. An analysis of baccarat, backgammon, blackjack, gambling games, money management, roulette and the wheel of fortune. The authors had developed their strategy for a complete randomly shuffled deck. For example, the Ed Thorp interview, which is the longest, is almost worthy of a book in itself. 14. Processing History Processed by Sarah Glover, 2018. His father was a veteran of World War I, and the senior Thorp had met his future. The Kelly bet size is found by maximizing the expected value of the logarithm of wealth, which is equivalent to maximizing the expected geometric growth rate. Trivia. “Edward O Thorp is the author of Beat the Dealer, which was the first book to prove mathematically that blackjack could be beaten by card counting, and Beat the Market, which showed how warrant option markets could be priced and beaten. He also backed up his theories by playing in the casinos and winning. The counting system presented in Beat The Dealer is more difficult than most modern count systems, but it provides interesting reading nonetheless. | Joined Apr 2004. Author of the book Blackjack Attack, a favorite among professional blackjack players. Thorp introduced a calculated method for winning at blackjack. Embed. Thorp used mathematics to create the blackjack "basic strategy" chart. M, Max Rubin. He is considered by many as the Father of Card Counting. To beat roulette, he and the father of information theory, Claude Shannon, invented the first wearable. Thorp is a legend in both the gaming and the quant worlds. RACHEL MARTIN, HOST: The card game. He later met with Massar. Famous for playing: Blackjack, baccarat. (Born Aug 14, 1932) Author of the classic and best selling blackjack book Beat the Dealer and developer of several blackjack counting systems. Thorp and Associates. in physics, and the Ph. Edward Thorp was the first one who explained the concept of card counting to average players in 1962. Beat the Dealer - blackjack book which had been written by Edward Thorp and has sold more than 1,000,000 copies so far. Thorp is a name often mentioned in the gambling world. He is the author of “Beat the Dealer,” which was the first book to prove mathematically that blackjack could be beaten by card counting, and “Beat the Market,” which showed how warrant option markets could be priced and beaten. Biography Edward Oakley Thorp is an American mathematics professor, hedge fund manager, and blackjack player. Thorp studied mathematics and physics at UCLA and has applied his mathematical and scientific know-how in novel ways during his career. But in the game as played, successive rounds are dealt from a more and more depleted pack of cards. Edward Thorp đã quyết định gác kiếm, từ bỏ trò Blackjack vào năm 1064. In this article, I’ll unveil the top 15 Thorp quotes that capture his winning investment philosophy. His subsequent book, Beat the Market, co-authored with Sheen T. Thorp, Edward O. The author initiated the practical application of the Kelly criterion by using it for card counting in blackjack. The papers consist of scholarly and personal papers, including published and unpublished manuscripts, research and reference files,. In a conversation with me, he elaborated on how remarkable his journey has been, and how supportive his wife Vivian was in all of his endeavors until her death in. 3. It was the first scientifically based text on the subject that was widely distributed among the public. well discuss how you might spot this cheating method. He received his bachelor's degree in physics from the University of California, Los Angeles (UCLA) in 1953, followed by a master's degree in 1955. The so-called Basic Strategy, which was subsequently refined through the use of. He is also the author of A Man for All. practical application of the Kelly criterion by using it for card counting in blackjack. Bryce Carlson. Thorp's. The book contained mathematical proof that you could do the seemingly impossible: beat the house at blackjack by counting cards. Ed Thorp is a mathematician, former professor, hedge fund manager, book writer, and blackjack researcher. Thorp is an American mathematics professor, hedge fund manager, and blackjack player. Optimal growth: Kelly criterion formulas for practitioners 8 3. Edward O. Edward O. THORP Edward O. The papers consist of scholarly and personal papers, including published and unpublished manuscripts, research and reference files. 1 have bCen victi- m:zed by most of the more common techniques and have catalogued them in Beat the Dealer. Having brushed shoulders with casino mobsters and survived, he shared his secrets with the world, launching a gambling renaissance. Edward Oakley Thorp is widely regarded as the creator of card counting, a popular gambling technique in which players keep track of which cards have been played and which cards are still in the deck. It started the blackjack craze in the 60s. The first scientific and mathematically sound attempts to devise a basic strategy were published by Roger Baldwin, et al in 1953. 000 đô la. Then he slid sideways into blackjack, changed the game forever, and set his sights on Wall Street investing. Edward Thorp is the bestselling author of Beat the Dealer. Thorp again focused his attention on gambling games with an analysis of:Edward Thorp, a former UCI mathematics professor known for research that led to a famous card-counting strategy for winning at blackjack, inventing a wearable computer to improve your chances at. Position sizing. The story went viral. He published the strategy in. While some players could have used cards counting before, he is considered the inventor of this technique, as he was the first player to write a book on this topic. 29. 99/yearEdward O. Two years earlier, Thorp's book, Beat the Dealer, was published, explaining the system for winning at blackjack he developed based on the mathematical theory of probability. He is best known as the author of Beat the Dealer (1962). THORP Edward O. He changed that forever too. Thorp serves as the player's expert guide in learning how to play blackjack better. Thorp rose up from nothing to become a professor at MIT, invented card counting and proceeded to beat the dealers of Las Vegas at blackjack, roulette and baccarat. Indeed, Ed Thorp himself had developed the original system whilst at MIT, using one of the most powerful computers in the world at that time. 39K Follower s. From Mathematician to Vegas’ Worst Nightmare. The book contained mathematical proof that you could do the seemingly impossible: beat the house at blackjack by counting cards. Having overcome the odds in Blackjack, a year later Dr Thorp and Claude Shannon, built the world's first wearable computer to beat Roulette. He pioneered the modern applications of probability theory , including the harnessing of very small correlations for reliable financial gain. 9. His first hedge fund, Princeton Newport Partners, earned 19. 1. Thorp Thorp beat the casinos at Blackjack and Roulette, set up the first market neutral hedge fund, Princeton Newport Partners, and pioneered strategies like convertible arbitrage. Kelly optimal betting. Kassouf, influenced securities markets around the globe. Using his. Sample CTA/hedge funds equity curves and performance characteristics. Please enjoy this transcript of my interview with Edward O. Thorp is an author, a mathematics professor, and a professional blackjack player. The most important book available to blackjack aficionados since Beat the Dealer by Ed Thorp, Blackjack Attack has been praised by every prominent blackjack expert. Ed Thorp accurately predicted the US COVID-19 death toll before any deaths were recorded. Recently he made a nice donation to the Blackjack Ball, which ensures the continuance of the ball even after it’s founder, Max Rubin, passes away. Edward Thorp, the 2013 Extraordinarius, helped found the UC Irvine math department and funded an endowment to attract preeminent professors. It started the blackjack craze in the 60s. This genius man is also known as the father of card counting thanks to his best-selling book, Beat the Dealer: A Winning Strategy for the Game of Twenty-One. Edward Oakley Thorp is widely regarded, by professional players as well as the general public, as the Father of Card Counting. Random House, 1962. In both these settings, we explore the use of the Kelly criterion, which is to maximize the expected value of the logarithm of wealth (“maximize expected logarithmic utility”). Articles from the UCI Libraries Special Collections and Archives, Edward O. Edward Thorp is by many regarded as “the first quant”, at least one of the first who successfully used quantitative models for risk-taking. Not only did he devise a winning system for blackjack, he achieved an annual investment return of ~ 20 percent for nearly thirty years as a hedge fund manager. It started the blackjack craze in the 60s. Thorp 2002 Author of the 1960s classic Beat the Dealer, which changed the way we think about blackjack. He’s responsible for developing the first and most common strategic blackjack practice known as card counting, as well as the first wearable computer technology in history. University of California, Massachusetts Institute of Technology) Edward O. Ask any blackjack player who the godfather of card counting is and they will likely tell you it is Edward O. Edward Oakley "Ed" Thorp (born 14 August 1932) is an American mathematics professor, author, hedge fund manager, and blackjack player best known as the "father of the wearable computer" after inventing the world's first wearable computer in 1961. Renowned probability theorist Edward O. netcom. e. Edward Thorp succeeded in writing one of the New York Times’ best-selling books, Beat the Dealer, and he supported his claim that chance has no bearing on blackjack in this instance. Thorp pioneered the use of quantitative investment techniques in the financial markets. Q. Investors can tilt the playing field by getting this edge and generate superior long-term returns, he reasons. Previous point of departure is the work of Baldwin. Beat The Dealer A Winning Strategy For The Game Of Twenty One ( 1966, Random House) by Edward Oakley Thorp. He became famous when he wrote the book Beat The Dealer, in which he documented a rational way of betting to beat the casinos in blackjack. Beat the Dealer by Edward O. He pioneered the modern applications of probability theory, including the harnessing of very small correlations for reliable financial gain. Thorp of GambEing Blackjack With a Tenless Deck wrong standing numbers. What is not so well-known is that Thorp also published a research article, with co-author William E. The seminal book that changed blackjack forever. After starting out as an American mathematics professor, he soon became a very successful quantitative hedge fund manager as well as a blackjack and roulette player. he also tried his hand at blackjack, or 21, using a strategy he had come across that increased the odds of winning against the casino to almost even. LinkedIn is the world’s largest business network, helping professionals like Elizabeth Thorp discover inside. Skip to main content. Thorp. Thorp serves as the player's expert guide in learning how to play blackjack better. Random House, 1962. Thorp, American mathematics professor, hedge fund manager, blackjack player, and founding faculty member at the University of California, Irvine. St. Was Edward Thorp a member of the MIT Blackjack Team? No, Edward Thorp was not a member of the MIT Blackjack Team. After reading the classic book Beat the Dealer, by Ed Thorp, Kaplan started card counting in Las Vegas and eventually ran a successful blackjack team there (1977). It is considered as a groundbreaking working in the field of blackjack and card counting. Theo phát ngôn của Thorp, Blackjack chỉ có thể đặt cược khoản nhỏ và điều này khiến ông. Thorp was a mathematician who figured out that by removing a single 2 from a deck of cards made blackjack a positive expectation for the perfect basic strategy player. St. Thorp Edward O. In 1961, he wrote Beat the Dealer about how he won in casinos. Edward O. Edward Oakley Thorp (born August 14, 1932) is an American mathematics professor, author, hedge fund manager, and blackjack researcher. Ed Thorp was one of the original 7 members inducted into the Blackjack Hall of Fame in 2002. Kassouf, influenced securities markets around the globe. Take on the dealer in this classic casino game. 1962. 795 million. He was a pioneer in modern applications of probability theory, including the harnessing of very. These are the five investing lessons of investing that Ed Thorp learned from advantage blackjack play. Edward O Thorp, the 84-year-old inventor of card-counting, was once the target of a suspected Mob hit. At the Blackjack Ball, Card Counter Dr. Along with innovative applications of probability theory, Thorp is also The New York Times bestselling author of “Beat the Dealer,” the first book to mathematically prove that the. Thorp had first envisioned a technique for predicting roulette outcomes as a physics undergraduate. A great place to start if you are new to the game of blackjack!A Man for All Markets is an interesting autobiographical account of the life and work of Ed Thorp, a brilliant, accomplished, but humble man who has lived a long (he is now 85), prosperous and happy life. Thorp 2002 Author of the 1960s classic Beat the Dealer, which changed the way we think about blackjack. Moreover, Thorp has demonstrated, see [2,3], that removing some cards from the deck, the player, following the corresponding version of the basic strategy, gets the higher/smaller edge over the house. As a mathematics professor with a master’s degree in physics and a doctorate degree in mathematics, Thorp had above-average intellect. 3 . I have recently heard complaints that cards have been missing from the pack in some casino blackjack games. Length: 6 hrs and 8 mins. Thorp (@edwardothorp), author of the bestseller Beat the Dealer, which transformed the game of blackjack. Edit. The values for the Thorp Ten Count can be seen in the table. The Story of Edward O. In a foreword to the book, statistician Nassim Nicholas Taleb (“The Black Swan”) boils down Thorp’s technique to the search for and capture of a “clear edge. games, twenty-one, or blackjack. Thorp was the scientist/math geek behind finding the best and most winning strategy for blackjack. Ông dành thời gian đến các sòng bạc tại phố Wall để chinh phục những điều mới lạ với thách thức lớn hơn. New Interview with Ed Thorp "Beating Blackjack and Roulette, Beating the Stock Market, and More" Thread starter Zero; Start date Jun 14, 2022; Zero Well-Known Member. In 1962 Thorp published the book Beat the Dealer that presented the conclusions of his research. In this article, I’ll unveil the top 15 Thorp quotes that capture his winning investment philosophy. Thorp , 87, had counted on $8. Pick 1 audiobook a month from. Thorp is 88 years old and he already developed card counting techniques back in 1961, when there were no good computers to rely on, impressive isn’t it?. pair split. Forex316. Thorp’s formulas to figure out blackjack odds and strategy. He was a pioneer in modern applications of probability theory, including the harnessing of very. Thorp revolutionized the casino industry by developing card counting systems for the casino game of blackjack. On the other hand, blackjack is still fairly easy for the amateur to learn enough to overcome the casino advantage and gain a modest edge. The final operating version was tested in Shannon’s basement home lab in June of 1961. Thorp asked himself: what is the best betting strategy when the odds are in your favour? Imagine there is a bet where the chance of winning is 55 percent. Thorp Once again. pair split. Edward Thorp’s trading strategy is a testament to the power of mathematical thinking in overcoming the odds. cards is an invaluable asset in the detection of cheating because aIt's tempting to think of Edward Thorp,. Today, I’d like to focus on Edward Thorp and his autobiography, A Man For All Markets. The author initiated the practical application of the Kelly criterion by using it for card counting in blackjack. Edward Oakley “Ed” Thorp was born in Chicago, Illinois on August 14th, 1932. 2%. This book stands out among other books of its kind, as it was. So while Thorp was a math professor by day… by night, he hit the blackjack tables. 00. The series includes his writings and research for magazines such as Gambling Times, Blackjack Forum, Winning, and Wilmott; his autobiography A Man for All Markets. The cigarette pack. Collage of Edward O. Beat The Dealer. In. Fortune's Formula. Thorp outlined his Basic Strategy for winning in blackjack in his 1963 bestselling book, "Beat the Dealer. Edward Thorp (Blackjack) Edward Thorp is a maths professor, fund manager and famous gambler. By R. The game of Blackjack, also called Twenty-One, has changed significantly since Edward Thorp wrote his famous book Beat the Dealer in the 1960’s. His remarkable success—and mathematically unassailable method—caused such an uproar that the. His first hedge fund, Princeton Newport Partners, earned 19. Thorpe’s first stop was at the now closed, Harold’s Club, where he won $500 within the first 15 minutes. Best known as the author of the Internationally renowned book, ‘Beat the Dealer‘ Edward Thorp was a mathematics professor at MIT who proved that blackjack could be won through a technique referred to as Card Counting. Former math professor Edward Thorp will receive UCI Alumni Association’s top award May 16. Thorp is 88 years old and he already developed card counting techniques back in 1961, when there were no good computers to rely on, impressive isn’t it?. DP on VP. His remarkable success—and mathematically unassailable method—caused such an uproar that the casinos. To beat roulette, he and the father of information theory, Claude Shannon, invented the first wearable computer. The revelation comes in Thorp’s new autobiography, A Man for All Markets, published this week. Perhaps nobody is more deserving of this honor than Thorp given that he. エドワード・オークリー・ソープ（Edward Oakley Thorp、1932年 8月14日 - ）は、アメリカ合衆国の数学者。 エド・ソープとも呼ばれる。彼は、数学理論をブラックジャックなどのカジノゲームに適用したことで有名である。 金融工学者としても知られている。Ed Thorpe card counting, in short, was about assigning value to certain cards. Thorp. Edward O. Recently he made a nice donation to the Blackjack Ball, which ensures the continuance of the ball even after it’s founder, Max Rubin, passes away. Edward Thorp's Ten Count system is one of the earliest card counting systems known. " Harry. 2. Irvine, Calif. Anyone with a basic knowledge of blackjack’s illustrious history has heard of Edward O. The first book to codify and popularize blackjack card counting, “Beat the Dealer. Edward O. The story went viral. Edward O. Walden, on beating two baccarat side bets. Thorp. Planet7 Casino. Thorp is the author of the bestseller Beat the Dealer, which transformed the game of blackjack. He is also famous for inventing the first wearable computer in 1961, together with Claude Shannon. É autor de Beat the Dealer, o primeiro livro a. 91 by Edward O. Thorp is one of the world’s best blackjack players and investors, and his hedge funds were profitable every. "Another games player who switched to finance early was Ed Thorp, the mathematics professor who invented blackjack card counting. Thorp. Edward Thorp (Baccarat, Blackjack) Edward Thorp net worth: $800 million. Source: 'Blackjack Attack,' third edition by Don Schlesinger. Born August 14, 1932 in. His groundbreaking investment strategies have earned him $800 million and catapulted countless investors into extraordinary wealth. In the 1960s while teaching at MIT, he invented the first wearable computer as a device to predict the outcome of roulette rounds. Continue reading "The Tim Ferriss Show. A New York Times bestseller. " Which, by the way, is the ultimate objective of. Reprinted countless times, Thorp's Blackjack Basic Strategy. In 1962, the young writer Tom Wolfe wrote a sympathetic profile in the Washington Post about a 30-year-old mathematician who had learned how to beat the house in blackjack. Bouchaud. Edward O. Thorp successfully tested his strategies in Nevada casinos. Not only did he devise a winning system for blackjack, he achieved an annual investment return of ~ 20 percent for nearly thirty years as a hedge fund manager. Dr. A child of the Great Depression, legendary mathematician Edward O. , receiving the B. Thorp uses it to gamble on blackjack and then to invest in the stock market. He is regarded as one of the best hedge fund managers in the world. Feb 13, 2012 at 10:21 AM EST. We will keep fighting for all libraries - stand with us!. Show casinos near me. Share to Linkedin. Researcher, columnist and long-time blackjack player. Thorp’s father was a strong proponent of education, and he worked hard to. Thorp is a mathematics professor, author, hedge fund manager, and blackjack player. Thorp began his gambling career while he was a professor at MIT. REVIEWS:In 1962 Ed Thorp published Beat the Dealer. The Love Boat ll. The cigarette pack. The man was Edward O. Ken Uston was the best blackjack player, author, card counter and manager of blackjack. A pioneer in modern applications of probability theory, Thorp’s bestselling book, Beat the Dealer, mathematically proved that the house advantage in blackjack could be overcome by… More about Edward O. He went to Las Vegas on a holiday vacation and experimented with a blackjack strategy about which he recently read. In his 1960s book Beat the Dealer, Edward O. com Abstract The first wearable computer was conceived in 1955 by the author to predict roulette, culminating in a joint effort at M. Thorp & Associates, generated an annualized return of 18. Ross, having read Ed Thorp's book on winning at blackjack, winds up parlaying the Kimmels' chain of Manhattan parking lots into bigger and bigger things, until they finally become, incredibly. But many methods may be used to cheat the player. Edward Oakley Thorp is an American mathematics professor, hedge fund manager, and blackjack player. A Dozen Lessons on Investing from Ed Thorp. 795 million, but that wasn’t in the cards. He would go on trips with his friend Claude Shannon and Claude's wife Betty on the weekend to Las Vegas. Edward O. By then, it was the summer of 1961, and the two decided it was time to test the computer in a casino. Dr. Edward O. New York: Vintage, 1966/1962. hakanssonThese gambling skills transferred perfectly to markets. o. In probability theory, the Kelly criterion (or Kelly strategy or Kelly bet) is a formula for sizing a bet. A pioneer in modern applications of probability theory, Thorp’s bestselling book, Beat the Dealer, mathematically proved that the house advantage in blackjack could be overcome by card counting. Edward O. Edward Thorp. Ed Thorp Blackjack. Evil of Blackjack is Back!) Robert Loeb. Kaplan was an MBA graduate from Harvard.