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Minutes: The One Where We Shook Things Up (05/29/2013)

June 2, 2013

Invocation: Jody D.
Pledge: Steve K.
Raffle: Claude S. – bottle of Oregon wine, lunch for two at Santa Barbara Club

Guests: Jim Munroe, Eirik Holm, Eliot Jacobson, Valerie Amparan, Gracie Curia

Visiting Rotarians: Joe Clark, PDG from New York and guest of David Velarde; Charlie Mitch

Announcements:

  • The Landshark is tonight. Meet in front of Joe’s Cafe at 6:20 PM with $20 cash per person. A jacket is recommended.
  • Rotary bike ride Saturday 8 AM. Meet at dolphins fountain.
  • Betsy – lead of ad hoc committee for fundraising. Jim Ruh is co-chairing committee. Eric Ryan is also chairing. If anyone wants to be on committee email her. First meeting is June 12.
  • David Velarde – PR is very important to attract new members.
  • Fireside chat at Luz Maria and E Russell’s home on June 18. Email signups coming.
  • June 27 – honor teachers at El Puente.
  • June 29 – airport Radisson Santa Maria, district awards
  • Paul Harris for Betsy Munroe and her husband Jim. Betsy is PH +5
  • And there was an earthquake.

Program: Eliot Jacobsen presents “Beyond MIT: New Ways Players Are Beating the House”

  • Retired from teaching in 2009. Started consulted businesses that advise casinos and online sites.
  • Card counting started in 1960s. The MIT team didn’t actually do card counting.
  • The advantage player – beating the casino in a legal way. If they get caught they wont have to give the money back.
  • Edge sorting – card manufacturers don’t cut the cards very well. Able to distinguish between 10s and aces. 70 percent of cards used in casinos come pre marked
  • Phil Ivey beat casino for 12M in baccarat by convincing them he was superstitious. He got them to rotate cards for him.
  • Don Johnson – the man who broke Atlantic City. He exploited the loss rebate feature. Made about $300M per day. Employed team of counters but didn’t do counting himself.
  • Hole card play – finding a way to view the dealers’ hidden card or cards. On blackjack it gives you a 3 percent edge. Most advantage players use hole card play.
  • Ray Cagno – famous player who was caught and sues casino for six figures.
  • Advantage players know they can’t be arrested because their acts are legal.
  • New games – have protection issues that dwarf blackjack counting. Casinos are slow to react to advantage players.
  • Suicyo Maniac – advised by Eliot Jacobson and won $125k a year for two years.
  • apheat.net is his blog.
  • Macau earning 2.5x the state of Nevada each year.
  • Online casinos are all corrupt. He audits sites and software and they are rigged. When he tells them what he finds they ask him to ignore it.

Minutes submitted by David Vo. 

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