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Blackjack Player Who Won $15 Million Reveals How He Did It

It’s the stuff that gamblers’ dreams are made of. Blackjack players with a trained memory and enough acuity can keep track of which cards have been played and which are still in the deck, thereby maximizing their chances for beating the house.

Johnson admitted to The Press of Atlantic City, taking some losses along the way.

Johnson negotiated for discounts as high as 20 percent after his losses hit $500,000 at the Tropicana and then decided to play. His profession is gambling-related as chief executive officer of Heritage Development LLC, which develops computer-assisted wagering systems for horseracing. His prowess in blackjack, he says, has gotten him banned from some casinos.

. Not only do you change the amount of your bets, you change your playing strategy: When you know it’s to your advantage, you hit a hand you’d otherwise have decided to stand on.”

Alan, a professional gambler who asks that his last name not be used, adds, “Even under normal circumstances, the house’s edge is small against a knowledgeable player. When he knows he has the advantage, he bets higher. The size of the edge depends on the variation of the game that’s being played, but it can get down to less than 1 percent. Card counting can turn the edge against the casino, which is why management bans card counters when they’re caught.”

Perks for high rollers, like free hotel stays and trips on jets, are not new to gambling houses. In an interview with The Atlantic, Johnson described how the casinos gave him a 20 percent discount on his losses and slightly more favorable house rules that let him break the bank.

Previously tightlipped about how he did it, Johnson said he played “fair and square” but he did have some favorable conditions when he played single blackjack hands of up to $100,000.

Johnson said he did not count cards, which is considered cheating and will get you banned from some casinos, but not illegal. So if he were to lose the whole $500,000 he’d only have to pay $400,000.

The 49-year-old resident of Bensalem, Pa., said in the interview with The Press that he began playing blackjack 15 years ago, starting with $25 bets. But two years ago with revenues tanking in an unstable market, casinos became desperate to attract big spenders, to the point that they began calling to invite Johnson, a known player, to play in late 2010 with special deals.

But Tropicana “pulled the deal” after he won a total of $5.8 million, the Borgata cut him off at $5 million, and the dealer at Caesars refused to fill the chip tray once his earnings topped $4 million, according to The Atlantic.

“I guess for the first time in 30 years, a group of casinos actually had a huge setback on account of one player,” Johnson told the magazine. Blackjack player Don Johnson revealed in a magazine interview how he won $15 million from three Atlantic City’s casinos in about five months.

Explains Richard, a former card counter who today works on Wall Street (and who asks that his last name not be used), “As the composition of the cards in the deck fluctuates, the player’s advantage fluctuates. “Somebody connected all the dots and said it must be one guy.”

He won $6 million from the Tropicana; from the Borgata, $5 million, and he took $4 million from Caesar’s, all between December 2010 and April 2011. When he knows the advantage has shifted to the house, he bets lower


Posted by admin on April 13th, 2015 :: Filed under Uncategorized
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