Edward Thorp

Edward O. Thorpe was born in Chicago, Illinois on August 14. 1932. He is a man of many talents. He was an author, blackjack player, mathematics professor, and hedge fund manager. Edward O. Thorpe was a pioneer in modern applications of probability theory. Edward O. Thorpe was the author of Beat the Dealer.

In 1962, it was the first book mathematically to prove card counting could overcome the house advantage in blackjack. In 1959, he received his PhD from The University of California in Los Angles. From 1961-1965 he was a mathematics professor at New Mexico State University. Then he left and became a professor of mathematics at the University of California from 1965-1977.

From 1977-1982 he was professor of mathematics and finance. He also worked from 1959-1961 at MIT. He is widely known as the creator of card counting. Card counting is when players keep track of the cards still in the deck and which ones were played. He was one of the first inductees into the Blackjack Hall of Fame for his intimidating the casinos with his revolutionary mathematic ideas. He was also responsible for the winnings of many avid players.

Edward O. Thorpe, author

His book, Beat the Dealer: A Winning Strategy for the Game of Twenty-One, revolutionized the game of blackjack. The book presented the first scientific system devised for the casino gambling game. This book also helped launch the revolution that transferred world securities market. Edward O. Thorpe also wrote The Mathematics of Gambling in 1984 and Elementary Probability in 1969.

  • 1. Beat the Dealer: A Winning Strategy for the Game of Twenty-One
  • This book initiated a trend of card counters attempting to defeat the game blackjack. The strategy of card counting is known as the balance small cards versus aces and faces. This will help determine the how favorable the deck would be. If the deck is approving then the player will increase their bet and when the deck in unfavorable, the player will decrease their bet. This system works better for a single deck. This book showed the first winning blackjack system made available to the public.

  • 2. Beat the Market
  • This book showed how he devised a system in which he read the stock market and played it in a very similar manner as you would in the casino. Edward O. Thorpe also helped others with their investing through his firm. He made the greater part of his fortune with his own hedge fund and in the securities market.