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Reminds me of the story of Don Johnson, a professional blackjack player who made $6,000,000 in one night. Because he is a known high stakes player, the Tropica
by 29athrowaway 6y ago
Reminds me of the story of Don Johnson, a professional blackjack player who made $6,000,000 in one night.
Because he is a known high stakes player, the Tropicana casino in Atlantic City invited him over and gave him a discount ("loss rebate") on chips.
Because of this 10% rebase on loss, even when his blackjack win-rate was below 50%, he would still make more money that what he lost.
https://www.theatlantic.com/magazine/archive/2012/04/the-man-who-broke-atlantic-city/308900/ https://www.theatlantic.com/magazine/archive/2012/04/the-man...