Comments on: Stop Gambling and Start Investing

By: Jay

Jay — Mon, 12 Jul 2010 02:40:15 +0000

Great post (actually, the whole blog is great),
I’ve been learning to count and have developed a betting system for myself and have been slowly but surely making a profit from blackjack. Many a time I’ve referenced this post to my friends or sent them a link to it after we leave the casino, them down money and sometimes me being the only one who was up.

By: Jordie

Jordie — Sun, 04 Jul 2010 20:37:33 +0000

hey mike, im wondering why you choose the hi-lo system over the other card counting systems like the hi-opt 1&2 which are said ro be more accurate than the hi-lo system but are more difficult to learn. I know you used the hi-lo in your counting days but id like to know what you think which system works best and what you prefer. anyway, this site of yours is well put, the best i’ve come across so far. Good day mr. Aponte

By: Ben

Ben — Tue, 26 Jan 2010 02:12:23 +0000

hey man, nice post. well put.

By: Mike Aponte

Mike Aponte — Fri, 22 Jan 2010 01:20:38 +0000

Josh, I agree that card counting does provide a thrill when you put out the big bets with a favorable count and cash in on the advantage. In any profession, those who excel are motivated by more than just making money. I know I never lost the adrenaline rush when it came time to push out the big money. But emotions never dictated how I played my hand or how much I wagered. As you know, a professional card counter always plays his/her hand based on the correct strategy and wagers the optimal bet size based on player advantage and bankroll size. I have to say that from a percentage basis, the return on investment for a skilled card counter is much more favorable than conventional investments. Largely because the mathematics of blackjack and card counting are blackjack & white. Given a sufficient skill level you can confidently estimate your expected win. Measuring advantage in or investments is a much trickier proposition – you could argue its not too far removed from gambling in some cases. Unlike blackjack, it’s often unclear as to whether an edge even exists. From a gross perspective, the profit potential in Wall Street is undoubtedly greater than card counting because you don’t have the scaling issues you have with blackjack (table maxes). Thanks for commenting. It’s great to hear from a fellow MIT card counting alum.

By: Josh Axelrad

Josh Axelrad — Fri, 22 Jan 2010 00:55:04 +0000

Mike, I enjoy the site and your posts. I’m a failed MIT counter myself – I was trained by an alum in New York and attempted just the lowly spotter checkout (“2-share checkout,” or something like this, if memory serves) for Shadow a couple times around ‘98 or ‘99 but was not up to speed. I ended up joining a different team, slightly laxer when it came to their testing, but very fierce players. I earned my living at blackjack for five years. And, for what it’s worth, I’d say the winningest blackjack players I know fell on the gambler side of the gambler/investor dichotomy, and would not mind admitting as much. Many of us were motivated by thrill-seeking and often (if we happened to be losing) by emotions. I think, barring exceptional circumstances, that solid returns in blackjack are so much tougher to realize than comparable returns in more conventional investments, pretty much the only reason people with capital and with serious life opportunities go into card counting is for the thrill. We want to be gamblers, albeit of the positive-expectation variety. There is – was? – plenty of opportunity on Wall Street for those who would rather invest.