Edward Thorp's Biography
Dr. Edward Thorp was a well-known American professor of mathematics, a blackjack player and an author of many gambling books, born on the 14th of August in the year 1932 in Chicago. Probably, his best known contributions have been made in the book entitled "Beat the Dealer", published in the year 1962.It is the 1st book that mathematically proves that blackjack can be beaten by the card counting techniques. The application of this strategy eliminated the approximately 5% edge of the casino, while giving the players an edge of around 1%. Besides, Thorp worked upon the production of the special computer advice helping to count cards.
After Dr. Thorp got his PhD from Los Angles in the year 1958, he worked in MIT between 1959 and 1961. Besides this, he also taught mathematics as a professor in Irvine between 1977 and 1982.
Research on Blackjack
For assistance in his research while creating his blackjack theory, Thorp used IBM 704 to examine the probabilities, which were based in a similar criteria to the research of Kelly method carried out in the year 1956. Besides these, Thorp also learned FORTRAN for assistance in programming the equations within his research model. This helped Thorp analyze this game of blackjack to the greatest degree using this strategy as well as to devise the various card-counting strategies with assistance from the IBM 704. This helped Thorp increase his chances of winning with the remaining decks of cards.
To apply his findings in real life, Thorp went to Lake Tahoe as well as to Las Vegas and awestruck the entire gambling industry with his skills and the card counting strategy. This ultimately proved his findings which were published one year ago. This is how Edward Thorp came up with his strategy to beat the system and developed the effective way in which it works.
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