How Much Did MIT Blackjack Team Make?

The MIT Blackjack Team was a group of students and ex-students from the Massachusetts Institute of Technology, Harvard Business School, and other leading colleges who used card counting techniques and more sophisticated strategies to beat casinos at blackjack worldwide. The team and its successors operated successfully from 1979 through the beginning of the 21st century.

During their first year, the players made $10,000 profit on an investment of just $5,000. In their second year they had increased their stake to $50,000 and were making $250,000 per year.

By the end of their run in the early 2000s, the team had amassed over $5 million in profits.

The team’s success was due to a combination of factors. First, they recruited talented members who were skilled in math and had the ability to quickly learn and apply complex strategies.

Second, they took advantage of casinos’ willingness to extend credit to high-rollers and bet large sums of money. Finally, they used sophisticated disguises and employed strict secrecy to avoid detection by casino security.

Although the MIT Blackjack Team is no longer active, their legacy continues in the form of numerous books, movies, and TV shows about their exploits. These stories help keep alive the myth of the “perfect” blackjack player who can beat the casinos at their own game.