Counting the Odds

It’s an expression we’ve all heard

“If you can, do, if you can’t, teach”

The clear implication being that if you’re an academic

Entrepreneurial success is likely out of reach 

Contrary to the above, in the 1950’s

A math professor, Edward Thorp, probably the greatest gambling mind in our nation

Already a billionaire hedge fund operator, developed a complicated system of card counting for black jack

Which, if followed, shifted the advantage to the casino patron 

Basically, Thorp’s system was based

On varying the amount bet

After some cards had been played

From the casino deck 

The system was called counting

And for those with the ability to so keep track

Would bet heavily when the composition of the remaining cards

Gave an edge to the player for the rest of the stack 

The casinos, of course, did not quietly accede to this situation

As losses to some black jack players grew in amount

They developed techniques to nullify the advantage

To those who could successfully count 

Instead of one deck in a game

Four were put into play

Also the dealers frequently shuffled the deck

As the game proceeded on its way 

These changes made it exceedingly difficult

For a card counter to continue to gamble and avoid any significant loss

Statutes were enacted to ban this practice

For the tiny number who could still pull it off 

So the lesson here is plain to see

Whatever systems or techniques gamblers employ against the house

The casino will eventually prevail

And on that you can really count