To stay in business, casino owners to adopt a policy to keep a share of the profit with them. Say for example, whatever the player earns, a large part of the winning amount goes to the winner while a percentage of it stays with the casino owner. This is what has been happening right from the date of casino establishment till today.
We went through the history of the six great cheating strategies ever applied by casino players and present the same before you:
Edward Thorp, a professor of mathematics, was a highly intellectual person. During his initial years, he knew little about gambling. Later, with the obsession of playing with the mathematical formulas, he worked hard to devise one for the blackjack players to give them the leading edge. Once he set his mind towards designing a method to gain competitive supremacy in blackjack, he started studying the game from different perspectives. He spent an hour researching, observing and finally concluding on his observations. Finally, all his efforts owe him his desired fruit. Thorp came up with the idea of card counting to give 1-5% of gaming advantage to the betting game players. He applied his strategies in stocks and earned huge returns out of it.
Marty Taft and Keith redevised their original computer into a compact version called David which earned them around forty thousand dollar profit in the first week itself. The same was produced in mass quantities and sold to the masses for approximately 10000 dollars each. No sooner the machines were introduced into the betting gameparlours; it started benefiting the players to a greater extent. With the enormous impact of betting, the casinos made fast efforts to trace the cause of their sudden and massive losses.
Richard Marcus is by far one of the most reckoned cheats in the entire history of the betting games. Out of the several roulette betting game cheats devised by Marcus, favourite of all times was the use of lower denomination cheat on the roulette tables with several chips. Let us take for example a cheat of 3 x 5 dollars chips. Marcus worked out a method to wager an additional chip of around 500 dollar worth below the three chips of lower denomination. In case of loss, Marcus would remove the extra chip in the absence of dealer. Thus, for the dealer, it was only a loss of around 15 dollars to Marcus.
At around 30 years, Carmichael established himself as a casino cheat with the use of a self-created device called as top-bottom joint. It was cleverly engineered to allow Carmichael to slip it into the coin slot and turn out to receive big pay-outs. The device was light and equipped with a camera battery and a miniature light which pose the ability to turn off the sensor light present in the slot machine. As the sensor light present within the slot machine turns out blank, it produces bigger pay-outs.
Louis Colavecchio was the next biggest cheat to mark his presence in the betting game history. His most significant vision was to accomplish the big job that would eventually fetch him a big pay-out with the assistance of the best possible tools. For this purpose, he invested in precious metals such as copper, nickel, zinc, and others and also the laser cutting tools. With the assistance of these tools, he worked out betting game toles that resembled the original ones in image, weight, and size.