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Every internet black jack player in the world would have heard of the famous MIT Black Jack Team at some point of time. It was one of the oldest organized blackjack teams where the players were the graduates and students of some of the best schools in the US like MIT and Harvard University. The team had consisted of highly educated and intelligent people who had used mainly card counting in order to win millions at the casinos.

How it all Started

It all started when a course called “How to gamble if you must” had been introduced in MIT and a few students had attended the course where card counting methods had been taught. The team went on their first ever gambling trip in the year 1979 in Atlantic City but did not manage to win much money. The team later split up and went on with their lives but two of original members could not let go and instead learn better techniques and put together a team of other players and found investors.

These two players went ahead and taught the same course to the new recruits and taught them card counting methods. The new team had been quite small and they only had $5,000 as investment on their first trip. However, this time they did manage to make some profit and the team members were still debating whether or not their idea would work.

Bill Kaplan

It was in the year 1980 that Bill Kaplan came across the team. Bill Kaplan was a successful blackjack player and he already had enough experience running a team in Vegas. He spent some time observing the team and then decided to join hands with the team and run it like business. The MIT team formed a bank with funds from several different players and investors. This bank reached $89K in a short amount of time and then the team began to play professionally.

The Golden Years

With a large bank of $89k, the team began playing professionally and in just two months they managed to double the investment. The team was making a profit of $150 every hour on an average which was quite incredible. The team managed to run profitably well into the twenty first century and though today it isn’t running anymore there are several other teams which tried to follow in their footsteps. Over the years that they played blackjack, they managed to make millions at the table and made a name for themselves across the world and one of the most organized blackjack teams.

In the year 1993 the funds and investments of the team had been dissolved and paid out to the investors and players. Once the team split up several members started their own teams with their own banks. Quite a lot of these players were already banned from several casinos all over the world while many shifted their money to other businesses like real estate.

The movie 21 was based on the story of the MIT Blackjack Team. With the release and the fame of the movie, the interest in card counting and the MIT Team had again been revived.