There Will Be Blood: On the Risk-Return Characteristics of a Blackjack Counting System

A number of recent books, media reports, and movies have described the exploits of groups who have sought to make money by card counting at casino blackjack tables. Among these, the MIT blackjack team is perhaps the most famous. The media tend to focus on the upside of the endeavor. No doubt this attention fuels the popular imagination that the road to blackjack wealth has only two requirements: learning a card-counting system and traveling to Vegas on a regular basis to reap the rewards.

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