MIT Students Beat Vegas Casinos With This Secret Plan!

Added: 2026-05-06

[00:00:00]They've got money to burn.

[00:00:02]>> They bet as much money as they can, whatever they can.

[00:00:05]>> 25, 50, even a h 100,000 a hand. The casino host was treating these guys like they were rock stars.

[00:00:12]>> And they're winning big time.

[00:00:13]>> There were multiple sessions where I had won in the neighborhood of 150, $180,000.

[00:00:18]>> But they're not your typical Vegas high rollers. They're MIT students. The MIT team in the early 90s was the most feared team on earth >> with an amazing secret plan to beat casinos for millions.

[00:00:32]>> I just flat out didn't believe him. I thought it was utter bull >> unless they get caught first.

[00:00:38]>> I was kind of like a gaming mortician. I had to put some people down.

[00:00:43]>> A team of students from one of the world's most prestigious universities, MIT, is about to break the luck equation with a brilliant method. They will transform gambling games from pure chance to a determined outcome in their favor. They will hit the casinos and gambling halls in their territory and earn millions from them all without breaking the law. What is the genius method they used and how did they manage to outsmart the casinos for years without anyone noticing? This is the true story of a handful of brilliant college students who won $43 million from casinos using math. Our story begins in 1992, specifically at the Massachusetts Institute of Technology, MIT, one of the strongest universities in the world. This university has remained one of the top five universities globally, often ranking first in many years. Naturally, the students who study at this university are the elite of the elite. This university only accepts the best. From this institution emerged a team of students who would challenge the casinos in their own backyards. The founder of this team was not actually a student but a professor at the university. This professor whose full name was never fully revealed was known as Mr. M. Mr. M was a computer science professor at MIT making him a technology and mathematics genius and he would be the leader, mastermind, and founder of this operation. Mr. M had a passion for a gambling game called Blackjack, one of the most famous casino games. On the surface, this game might seem like pure luck. But if you are skilled in mathematics, you quickly realize you can play this game in a way that tilts the odds in your favor through a technique known as card counting. What sets this game apart is that the more cards are dealt during the rounds, the more you can count the remaining cards in the deck. By keeping track of the remaining cards, you can tilt the odds of winning in your favor using some mathematical calculations. Card counting was not considered illegal and no one could accuse you of cheating if you did it in the end. This method is just math in your head. However, casinos have monitors and security personnel watching the games and players. And if they notice someone using card counting, they will immediately kick them out of the casino. You might wonder how they could notice this when it's just math in someone's head. I'll give you the answer later when we dive into the details of the game, but for now, let's get back to Mr. Mr. M wasn't the person who invented card counting in blackjack. Others had used this method before and even a mathematician wrote an entire book about it. However, Mr. M added his special touch to this method and executed it better than anyone before him because this time he was doing it with a team. A team made up entirely of math geniuses.

[00:03:27]Mr. M had a passion for blackjack and card counting, spending years studying and perfecting the method from start to finish. And in the year in 1992, when the gambling industry in America was booming in, new casinos were opening everywhere, particularly in the major hub of Las Vegas. Mr. M sensed it was the perfect time to start his team. He personally oversaw and trained the team members, ensuring they were well-rounded and fully prepared. What increased his enthusiasm was that a new casino had been opened close to the university. So, it was the perfect place where they could use it as a training ground before heading to the big casinos in Las Vegas.

[00:04:05]But before all this, they needed people to help establish the team because it required management and capital. They couldn't gamble and make money without having money to start with. They estimated they needed at least half a million dollars to make it worthwhile.

[00:04:19]So, they needed investors. Mr. M sat down with two of his close associates to discuss the idea. They decided to establish a legitimate company complete with management, an accountant, and paying taxes. They wanted to create a legal entity as what they were doing was not considered illegal. By creating a company, everyone's rights would be guaranteed, including the players. It would also make it easier to attract investors with a clear and organized structure. They officially registered the company and named its strategic investments. The founding partners listed on the official documents were Mr. M. and his associates, Bill and John. These were the managers. The official papers stated that the company's goal was to apply mathematical analysis to profit from blackjack, making it a legitimate business with declared and documented objectives. As mentioned, what they were doing wasn't illegal. The reputations of the three founders in the scientific community and their network of friends and acquaintances quickly attracted investments. They easily raised the necessary capital of half a million dollars or more in a short period. Of course, any profits made had to be distributed among the management investors and players according to their official documents. The profit shares were distributed as follows. 45% to management, 45% to investors, and 10% to the players. Of course, some might see these profit percentages as unfair, especially since the players are the ones on the front lines. However, the players also receive salaries on top of the 10% profit share. Their goal was to recruit students as players, specifically those with strong mathematical skills. Naturally, all the students at MIT are proficient in mathematics, but they also needed students who were bold and can maintain focus despite numerous distractions around them. In a casino, there are many distractions, chaos, and noise along with the pressure of the game and the concentration required to perform the necessary mathematical calculations.

[00:06:22]Amidst all this, their minds must remain sharp and focused. To calculate these equations, this requires more than just being good at math. The plan was to make a general call to the students, recruit a large number, and then sift through them to select the best. The news initially spread through flyers distributed around the university and soon the students themselves began talking about it. Some of these students were already familiar with card counting or had at least heard of it as soon as they saw the announcement or heard the news. They were intrigued and some were drawn by the prospect of making money.

[00:06:58]After all, these students had no steady income and welcomed any opportunity to earn money, especially if it was something enjoyable that allowed them to use their intelligence and skills.

[00:07:09]Approximately 40 students decided to attend the first meeting held by Mr. M in one of the classrooms. There, Mr. M began to explain the concept and the principles they would be working on. He made it clear that this would take time and months of training to reach a level of mastery. He told them it wouldn't be easy and that many of them would likely drop out. He also emphasized that anyone who didn't take it seriously would be immediately dismissed as this was not a game. They had a half million dollar investment at stake. He explained that everything would be done legally with a company official paperwork accounts and everything meticulously planned. Most of the students were already familiar with blackjack and the concept of card counting, so explaining the process to them wasn't difficult, especially since they were all math geniuses. Now, to continue the story, you also need to understand how to play this game. I'll give you a simple explanation. In this game, there's a dealer and players. The dealer deals cards to the players and themselves, and the players play against the dealer, not against each other. The goal of the game is to have cards with a total value higher than the dealer's cards, but not exceeding the number 21.

[00:08:20]For example, if your cards total 20 and the dealer's cards total 17, you win and double your bet. However, if either you or the dealer have a total that exceeds 21, that person loses immediately. The same goes for the other players at the table. All the players compete against the dealer. Whoever has a total higher than the dealers, but less than 21 doubles their bet. And of course, the more money a player bets, the greater their potential winnings if they win, and the greater their losses if they lose. In this game, the player competes directly against the casino because the dealer and employee of the casino is the opponent. When the dealer loses, they pay the player with the casino's money.

[00:09:01]This game can continue for several rounds with the dealer dealing more cards to the players and themselves each round. As the game progresses and more rounds are played, fewer cards remain in the deck. This is where card counting comes into play. If, as a player, you keep track of the total and categories of the cards that have been dealt.

[00:09:21]You'll know the value of the remaining cards in the dealer's deck. With quick mathematical calculations, you can predict whether the upcoming rounds will be in your favor. To simplify, if your calculations indicate that most of the remaining cards in the dealer's deck are high-V value cards, you bet more money.

[00:09:39]If most of the remaining cards are low- value cards, you bet less. This is the basic principle. For example, if your calculations tell you that the remaining cards in the deck are high value, you can predict that the dealer might draw a high card, making their total exceed 21, causing them to lose automatically, and you win. Of course, card counting is not a guaranteed way to win every game, but it shifts the odds in your favor. You might lose some rounds, but since the probabilities are on your side, you should end up with a profit overall by the end of the week or month after playing a large number of games in rounds. This game differs from other gambling games because each round depends on the previous one. The more cards are drawn from the deck, the better you can predict the upcoming rounds because you can estimate the remaining cards in the deck mathematically. You can tilt the odds in your favor rather than relying on blind luck. This is a very simplified explanation of the game and card counting. The subject is more complex and the game has more rules, but this gives you the basic principles to understand the story. Those who want to delve deeper can research further on their own. The important thing is that Mr. M explained the card counting method to the students in detail. As I mentioned, some students had heard of the method or knew a little about it, but none were as deeply knowledgeable as Mr. M. He began teaching the students all the formulas and tables they needed to memorize and apply while using the card counting technique. It was as if they were taking an additional university course complete with formulas, tables, and numbers. This was just the theoretical part. They also needed practical training to apply these methods and techniques. They had to be able to count cards and perform all the mathematical calculations automatically without even thinking, especially under the pressure and distractions of the casinos. Reaching this level required months of training, which is what Mr. M implemented. He made them train for long hours every day, planning for 6 months of this intense training. After 6 months, there would be a practical exam, a very tough one. Mr. M treated this as if it were one of the hardest university courses which caused about half of the students to drop out. They couldn't handle the pressure, especially with their regular academic workload. At the same time, some students were highly enthusiastic from the start, which allowed them to excel and learn quickly.

[00:12:05]However, mastering the technique of card counting wasn't the hardest part of the operation. The real challenge was working together as a team, which was essential to outsmart casino security.

[00:12:16]Although what they were doing wasn't illegal, and casinos couldn't accuse them of cheating, security guards monitoring the games would eject and ban anyone they suspected of counting cards from the casino. Dealing with casino security was the most difficult aspect.

[00:12:32]As you know, in their early days, casinos and gambling halls were run by mafia and organized crime groups. If they caught anyone trying to cheat or bend the rules, they didn't just throw them out. They made an example of them with a severe beating to deter others.

[00:12:47]But over time, these casinos became legitimate businesses operating under state laws just like any other business.

[00:12:55]While they could no longer physically harm patrons, they still maintained a strong security presence. Security personnel were everywhere monitoring every game and every table with surveillance cameras. If they suspected someone of doing something suspicious, they could track their every move and placed them on a blacklist, banning them from entering the casino forever. They had detailed databases of everyone who entered, complete with photos, descriptions, and names. But how could casino security detect people using the card counting method? After all, card counting is just mathematical calculations in a person's head with no obvious tool or visible cheat. How could they uncover it first? Anyone gambling large amounts of money would attract securities attention, especially if they started winning. As a player using the card counting method, you should start with small bets in the early rounds. As the game progresses and more cards are dealt, you determine based on your calculations if the remaining cards are in your favor. If they are, you increase your bet to win more money. If they aren't, you decrease your bet. This constant fluctuation in your bets between rounds is what draws attention.

[00:14:07]If you start winning big when you place high bets, casino security and surveillance will notice. Mr. M knew from the beginning that he would need a strategy to outwit casino security and spotters. The solution was simple but brilliant teamwork. The idea was that most team members would act as spotters.

[00:14:25]A spotter's jaw was to go to a specific table and play like any ordinary player, placing small bets of 10 or $20.

[00:14:32]Throughout the game, the spotter would count the cards, playing several rounds.

[00:14:36]When the mathematical calculations indicated that it was the right moment to increase the bet, the spotter would signal a teammate nearby. This teammate known as the big player or gorilla was the one with the money. The big player would join the table and place a large bet, say $10,000. In blackjack, it's normal for someone to join a game in progress because you're playing against the dealer, not the other players. The big player would then place a high bet because the spotter had determined it was the optimal time. Casino security wouldn't suspect anything because the spotter's bets were consistent and small. While the big player always gambled large amounts, making it appear normal. The casino would not notice that the big player was placing large bets based on the spotter's calculations.

[00:15:22]This made it much harder for casino security to detect card counting.

[00:15:26]Therefore, the students task was more complex than just learning how to count cards. They had to work seamlessly as a team. They also had to learn teamwork, how to work together, and execute their strategy amidst the pressure, noise, and security surveillance in the casino.

[00:15:43]Imagine the casino environment you're playing among other gamblers surrounded by noise, music, and chatter. Slot machines are worrying. People are playing at tables around you. Other players might talk to you at any moment.

[00:15:56]Surveillance cameras are overhead and security guards are everywhere. In the midst of all this, you must keep your mind clear and focused, ensuring you count the cards and perform your mathematical calculations without any errors because even a small mistake could cost you large sums of money. On top of that, you have to watch for signals from your teammates or give signals yourself if you are the spotter.

[00:16:21]That's why Mr. M subjected the students to intense training and rigorous tests that only the elite could pass before these tests. He taught them all the details from mathematical calculations to teamwork. After 6 months of studying and practicing, it was time for the practical exams. Mr. M created a chaotic environment with noise and distractions to simulate the casino atmosphere and even more intense conditions in these simulated environments. He tested them to replicate the stress and distractions they would face in reality. During these distractions and noise, he would deal with the cards and the student being tested had to count the cards and keep their mind sharp with the mathematical calculations without making any mistakes. If the student could count the cards correctly under this pressure, they passed the test. But even passing one test wasn't enough. They had to succeed multiple times consecutively. It wasn't acceptable to pass one time and fail the next. They had to succeed consistently test after test to be considered qualified. Mr. M was relentless in creating distractions and challenges. He would even throw ice on them to simulate extreme conditions.

[00:17:32]Naturally, almost none of the students succeeded on their first try, and several gave up. In frustration, Mr. M's tests were quite literally harder than their actual university exams. However, some students thrived under these conditions and adapted faster than others. Among these were three notable students, Seion, Dan, and Katie. These three would play significant roles in the story, so remember their names. But they weren't the only ones to pass Mr. EM's rigorous tests. In total, around 12 students managed to qualify for the team. Interestingly, Simeon was the only student to pass Mr. EM's tests on his first attempt, making him arguably the best among them. He was already proficient in card counting, having researched it before, training under Mr. M. With the team selected, Mr. M decided it was time for their first practical experience. They chose a nearby casino called Foxwoods. Given that it was their first real attempt, they wouldn't gamble large amounts. They would start with a minimum bet of $5 per round during their first trial. The results varied from student to student. Some made impressive profits while others faced losses. These losses weren't due to incorrect play, but because, as I mentioned, card counting doesn't guarantee a win every time. It merely tilts the odds in your favor. You might lose a few rounds, days, or even months, but mathematically over the long run, you should come out ahead. This is known in mathematics as the law of large numbers on that first day. Although some students ended up losing the team as a whole made a respectable profit. They repeated these practical exercises at the same casino several times. Once Mr. M felt the team was ready, he decided it was time to target the big fish, the casinos of Las Vegas. There they would use the $500,000 they had raised from investors. In September 1992, the team made their first trip to Las Vegas. Simeon, being one of the best students, earned Mr. Em's trust and was entrusted with a significant sum of money, approximately $150,000.

[00:19:39]Simeon would be the gorilla, the player who placed the big bets. He had to keep this money on him at all times, literally hiding it in his jacket rather than placing it in a bag that could be out of his reach. His trip to Vegas was delayed compared to the rest of the team because gathering the cash took longer than expected. The other students had already booked their tickets and arrived in Vegas ahead of him. Mr. M constantly reminded Simeon of the essentials. No alcohol. Stay focused and don't let anything distract you. He warned him that Vegas was a city of glitter designed to dazzle and distract people.

[00:20:13]But Simeon had to remain focused on his goal. When Simeon finally boarded the next available flight to Las Vegas, he was immediately struck by the city's bright lights and bustling energy.

[00:20:24]Bustling. It felt like entering a different world, which only heightened his excitement for the adventure ahead.

[00:20:31]The team's first target was a casino in Mirage Hotel, one of Vegas's most famous. The plan was to meet near the hotel's iconic volcano. However, when Simeon arrived at the designated spot, he couldn't find anyone from the team.

[00:20:46]He searched for a while, but to no avail. Back then, mobile phones weren't widespread, so he had no way to contact them. After an hour of searching, he decided to enter the casino alone. After walking around for a bit, he found Katie inside. She was also alone and explained that the team had split up to explore the place after waiting for him for a while. However, Simeon was the gorilla with the money. So, none of them could gamble without him. With only him and Katie left, they needed a plan to gamble together as they only needed two people for the operation. One to be the spotter and the other to be the gorilla. Simeon and Katie decided to adopt personas, one of Mr. EM's strategies. Simeon would pretend to be a Russian arms dealer, complete with a Russian accent, which was easy. Since he had Russian origins, Katie would play the role of his American wife. Adopting these personas helped them blend into the casino environment. A Russian arms dealer naturally fits the profile of someone who would gamble large sums of money.

[00:21:49]Simeon and Katie approached one of the blackjack tables. Simeon took out $10,000 and handed it to the dealer. The dealer exchanged the money for casino chips to start playing in the first few rounds. Simeon placed small bets, allowing the rounds to progress so he could start counting the cards and see where the odds were heading. Initially, the numbers weren't in their favor.

[00:22:10]High-V value cards had already been dealt, leaving smaller cards in the deck. As I explained earlier, when this happens, the odds aren't in the player's favor. They kept counting the cards round after round, waiting for the mathematical odds to shift in their favor. When the odds weren't favorable, it was best for the gorilla or the big money player to step away and let the spotter play. Instead, Simeon, playing the high roller, stood up and said he was going to the restroom. Katie, acting as his wife, took his place at the table. She started to play small bets since her husband was away. Simeon pretended to go to the restroom, but instead kept an eye on the table from a distance. Katie placed the minimum bet each round $25 according to the casino's rules while counting the cards and calculating the odds. As Mr. M had taught them, she would keep playing and counting while Simeon watched from afar.

[00:23:04]When the odds finally shifted in their favor, Katie was to signal Seon to return. They had pre-arranged signals.

[00:23:11]Touching her face with her left hand meant good odds. The right hand meant excellent odds, and both hands meant the odds were overwhelmingly in their favor, and Simeon needed to return immediately.

[00:23:22]These signals were simple, yet incredibly clever, easily overlooked by anyone, not in the no. As soon as Simeon saw Katie's signal, he returned to the table. He placed all his chips on that round because the odds were overwhelmingly in their favor. They won round after round, tripling their money.

[00:23:41]The $10,000 turned into $30,000.

[00:23:44]Naturally, when a player starts winning such large sums, they attract the attention of security monitors and casino managers. One of these monitors quickly approached Simeon and Katie of the table and started talking to them.

[00:23:57]At first, Simeon felt they might get kicked out, but the manager surprised him by asking if they were staying at the hotel. Simeon replied that they hadn't booked a room yet. The manager then said, "You are a big winner with us, and we like to treat our high rollers. Well, I'd like to offer you a suite at the hotel." Simeon was initially shocked by the offer, but quickly accepted it. Casinos often make such offers, not out of generosity, but in the hope that the winner will stay longer and continue gambling, increasing the likelihood of losing back the winnings. When they went up to the suite, they saw a room beyond their wildest dreams. an extravagant five-star suite, and with them were their winnings. From that moment, they knew their lives were about to change drastically. During that first trip, they managed to win over $100,000.

[00:24:48]In just one weekend, their operation began to grow. Weekdays were for studying, but every weekend, the team would catch the first flight to Vegas and repeat the process. the students playing. The role of spotters would spread out at the tables, placing small bets and starting the card counting process while the gorillas with the money waited for signals from a distance. Despite their caution and clever methods, security always kept an eye on big winners. When the same faces appeared week after week, it naturally raised suspicions. Therefore, the team never focused on just one casino. They diversified going to different casinos, going to different Every weekend they'd fly to Las Vegas, gamble on Saturday and Sunday, and then enjoy the night life before returning to their city and resuming their roles as regular MIT students. Mr. M and the founding partners, Bill and John, were meticulous about their accounting. Every team member submitted a detailed report of their weekly earnings and losses. Based on these reports, profits were distributed accordingly. The profit distribution was straightforward. The largest share 45% went to management, Mr. M and his partners. The investors also received 45% and the remaining 10% went to the players. Players received a basic modest salary and those who made profits got their share of the earnings.

[00:26:10]If a player lost money, they only received their basic salary. This system ensure precise weekly profit distribution, allowing the operation to run smoothly for several months. To avoid drawing attention, the team constantly varied their targets. They expanded beyond Las Vegas, hitting casinos in other American cities and even traveling to Europe. This diversity was all part of Mr. M's strategic planning. Even though some team members occasionally faced significant losses, the overall outcome was usually profitable according to the law of large numbers. While there might be losing weeks, they were balanced by winning ones. Simeon was the standout player of the team, consistently achieving remarkable profits. In one instance, he won $75,000 in a single round. Not a game, but a single round. His performance was always outstanding and his higher bets compared to his teammates were backed by his unwavering confidence. Within 6 months, the team's net profits neared $1 million. While the students didn't earn as much as management or investors, they enjoyed a lifestyle they had never dreamed of, especially at their young age. They lived in luxury, moving between lavish hotels, fine dining restaurants, first class flights, and attending major parties and shows in Las Vegas. High rollers were treated like royalty, and the casinos catered to them in hopes they continue to gamble. The casinos usually ended up winning, but with the MIT Blackjack team, the dynamic was different. The students consistently had the upper hand. They not only took money from the casinos through blackjack, but also enjoyed complimentary rooms, meals, parties, and shows. One of the team members even managed to convince a hotel casino to sponsor his wedding at the prestigious Palace, one of Las Vegas's most luxurious hotels. While living this high life, Mr. M and his partners continued training new groups of students. They weren't satisfied with just the current team. They wanted to expand their operation continuously. The number of team members grew from 20 to 30 and at its peak the team had around 40 members. Mr. M and his partners treated the company like a real business, always looking to expand with each success. However, internal conflicts sometimes arose, especially among students dissatisfied with the profit distribution. As we mentioned, students only received 10% of the profits even though they did most of the work. Some demanded a higher percentage, but Mr. M and the founding partners were firm. Those unhappy with the arrangement could leave and even start their own teams if they wanted. Key players like Simeon, Dan, and Katie were making good money because they earned substantial profits. Each student received 10% of the profits they generated. So, earnings were directly proportional to their performance. The team operated with high efficiency and overall profits exceeded $1 million, which was worth significantly more back then, equivalent to around $2.5 million today.

[00:29:14]Importantly, they were operating within the law. Even if caught, they wouldn't face imprisonment. The worst consequence would be getting banned from a casino.

[00:29:24]Despite their efforts to diversify and rotate between different casinos, security teams and surveillance in these establishments were extremely sophisticated. The gambling industry is highly lucrative and casinos invest heavily to protect their profits.

[00:29:38]Independent investigators move from casino to casino monitoring suspicious players, particularly those with consistent big wins. These investigators compiled detailed pieces of information on these players and shared them across various casinos. The team noticed a particular individual following them, a man with gray hair who appeared repeatedly at different casinos.

[00:30:00]Initially, they thought he was just another security manager or regular monitor, but when they saw him in multiple locations, they realized he was more than that. This man was Andy Anderson, a private investigator specializing in casino security, working for an independent company called Griffin, which provided security services to various casinos.

[00:30:21]Imagine the scale of this industry.

[00:30:24]There were entire companies dedicated to security services alone. Griffin's job was to provide lists of names and photos of people who posed a threat to the casino. Business investigators like Andy Anderson were tasked with identifying cheats and those attempting to outsmart the casinos. Andy was the first to notice the blackjack teens movements and started tracking them from casino to casino, analyzing their behavior to understand their operations. He couldn't immediately link them all together due to their large numbers, but began taking photos and identifying connections.

[00:30:57]Each time he identified a new member, he added them to his list. From the start, it was clear they weren't cheating in the conventional sense, which meant they were likely using card counting techniques. For over 2 months, he monitored them and reviewed security camera footage to understand their operation. It didn't take long before he figured it all out. He understood the roles of the spotters and gorillas and how they signaled each other. Once he had connected the dots and understood their method, he began directing casino security to stop anyone they recognized from the student team, security would intercept them in the middle of a game.

[00:31:34]Simeon's persona as the Russian arms dealer was blown when security confronted him. He tried to explain that he wasn't doing anything wrong. When they insisted, he said he'd take his money and leave, but they wouldn't let him go. Even though casinos had become legitimate businesses, they hadn't entirely shed their moblike tactics.

[00:31:54]They took Simeon to one of the back room and threatened him, telling him that what he was doing was considered cheating, even if it wasn't technically illegal. They warned him that he was permanently banned from the casino and that if he tried to return, they'd call the police and have him arrested for trespassing. That was all they could legally do, ban him from the casino.

[00:32:14]Moreover, they were obligated to exchange his chips for cash because in the end, he hadn't broken any laws.

[00:32:21]However, catching one member suggested that their entire operation could be compromised. This suspicion was confirmed when a few days later, Dan was also caught. Dan, like Simeon, was a gorilla and one of the top winners. He was intercepted by security in a different casino. It became clear that their activities were becoming widely known. In one instance, when they traveled to Monte Carlo in Europe, they were even detained and threatened with arrest being told that card counting was illegal there. This was, of course, nonsense, as card counting is impossible to prove. It's just math done in the mind. It was evident that the net was closing in on them. Their notoriety had spread to European casinos, and they had to expect being caught wherever they went. The reason behind this widespread knowledge was Griffin Investigations, the security company we mentioned earlier. Griffin specialized in casino security and maintained an updated book called the Griffin Book. This book was a comprehensive list of names, photos, and details of individuals considered threats to casino operations, cheaters, and fraudsters.

[00:33:30]Most of the student team members had been added to this book with their names, photos, and the aliases they used. None of the students ever used their real names. They always adopted personas like Simeon's Russian arms dealer character. The Griffin book was distributed to casinos worldwide. Any casino that subscribed to Griffin services received this book and regular updates via facts about suspicious players. If a player was spotted in one casino, warnings were sent to all the neighboring casinos. It was clear that Griffin Investigations was systematically closing in on the blackjack team. The warnings included the person's photo name and description.

[00:34:08]Andy, the investigator who exposed the student team, wasn't content with just revealing them to the casinos. He wanted to uncover their secret, where they came from, and how they executed their operations with such intelligence and precision. The casinos had the students addresses because some of them, not being cautious, used their real addresses to receive the free casino offers. Andy noticed that almost all of their addresses were in Cambridge, Massachusetts, the city where MIT is located. He quickly deduced that they were university students. He then obtained the university's yearbook, which contained photos and names of all the students. By comparing the yearbook photos with the ones he had, he identified their real names, which were then added to the Griffin book. The student team and their leader, Mr. M quickly realized they were being consistently stopped and banned from casinos, recognizing they had been identified. They had been Some of them attempted to disguise themselves.

[00:35:06]Simeon, for instance, tried to play the role of a wheelchair bound person.

[00:35:11]Another member, John, even disguised himself as a woman wearing a wig and makeup. Others tried growing beards or mustaches and wearing different outfits to vary their appearances. However, most of these disguises were quickly uncovered, especially since casinos employed facial recognition software that identified individuals as soon as they entered using the surveillance cameras. Even in 1993, casinos were equipped with such advanced security technology, making them some of the most security savvy institutions. The disguises the students used were usually ineffective, as the facial recognition software could easily identify them.

[00:35:50]Things went from bad to worse. The team began to suffer from bad luck. We mentioned that there could be periods of losses lasting over a week, but these were usually balanced out over time.

[00:36:01]Unfortunately, their losses suddenly began to pile up, especially since experienced students like Simeon, Dan, and Katie could no longer play freely.

[00:36:10]Almost all casinos would immediately throw them out. This left the newer recruits who Mr. M had recently trained to do most of the playing. It seemed that these new students weren't up to par, leading to significant losses, amounting to hundreds of thousands of dollars, nearly half a million in losses. Over 3 months, problems mounted from all sides. I casino security, bad luck, and increasing tensions between management and the students. The students unable to win were no longer making any money as the entire situation became one of continuous losses. And even when they won a little, their share was so insignificant that it created resentment among the students. This discontent likely contributed to their losses. Eventually, many students left the team. Mr. M and the management were extremely stressed, especially Mr. M, who was known to crumble under pressure.

[00:37:04]One day, he forgot a bag containing $150,000 of the company's money in a classroom. He went home, slept, and only remembered the bag in the middle of the night. When he returned to the university to search for it, he found that a janitor had turned it over to the guards, who then handed it to the police. A federal investigation was launched to determine the money's origin to ensure it wasn't involved in money laundering or any illegal activity. It took a long time, but eventually, Mr. M and his company recovered the money.

[00:37:37]This incident caused many team members to lose respect for Mr. M. Despite his intelligence and typically brilliant planning. It was clear he had crumbled under pressure and continuous losses. It became evident he wouldn't find a solution to their current predicament.

[00:37:52]The situation deteriorated to the point where Mr. M's partners Bill and John held a private meeting to discuss the possibility of ousting Mr. M from the company and the team he had founded in replacing him with Simeon. Indeed, they proposed the idea to Cien, but he refused immediately. First, it would be a betrayal of Mr. M, whom Simeon still regarded as his mentor, and to whom he felt a great debt of gratitude. Second, the other team members already resented the management due to the perceived unfair profit distribution. If Simeon accepted, the team would likely turn against him as well. It was clear to Simeon that taking over a sinking ship would not end well. The logical choice was for him to start a new team under a new company. However, out of respect for Mr. M, he decided not to do that until the company collapsed or ceased operations. Indeed, it wasn't long before Mr. M informed his partners that he decided to step down from the company as he could no longer manage it.

[00:38:51]Following Mr. Em's departure, his partners also left, leading to the official dissolution of the company.

[00:38:57]This happened towards the end of 1993, meaning the company had operated for about a year and a half. Simeon then decided to form his own team. He established a new company with his old teammates Dan and Katie. They learned from the mistakes of Mr. M and his partners, particularly the unfair profit distribution. Simeon and his partners believed that the main reason for their continuous losses was that the students felt they weren't getting their fair share, which affected their focus and performance. Correcting this mistake was their top priority. They retained the positive aspects they learned from Mr. M, such as creating a structured and professional organization with proper management and rigorous training.

[00:39:40]Everything was documented and legal, but this time the investors were the students themselves. Each member contributed what they could and their share of the profits was proportional to their investment. No matter how small, they could start with a little and grow together. The key was ensuring everyone felt the arrangement was fair.

[00:39:59]This was the true path to lasting success. Sustainability was more important than quick profits. These were the principles upon which Ion's team was founded, which later became the most successful blackjack team in history.

[00:40:12]Over the next four to 5 years, Simeon's team grew and expanded, eventually comprising more than 60 players. During this time, they accumulated total profits exceeding $5 million, making them the most successful blackjack team ever. Although other teams emerge, even from other universities, none reached their level of success. Simeon and his teammates always credited much of their success to Mr. M. He laid the foundations, charted the course, and was the mastermind behind their multi-million dollar winnings. After these adventures, most of the students went on to work for tech companies or highlevel educational institutions. Some founded tech companies and sold them for millions. Simeon himself founded several tech companies, sold them, and became an incredibly wealthy millionaire, as well as the most of team members who found great success in their lives.