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Childhood

Born on August 14, 1932, in Chicago, Edward Thorp moved to Southern California as a child. A prodigy in science, he became one of the youngest amateur radio operators at age 12. His academic prowess earned him scholarships, and he even met President Truman after winning a chemistry competition. Thorp initially attended UC Berkeley but transferred to UCLA, where he earned a degree in physics and later a Ph.D. in mathematics.

Career

Thorp’s career spanned academia, gambling, and finance:

  • 1959–1961: Taught at MIT, where he met Claude Shannon.
  • 1961–1965: Professor at New Mexico State University.
  • 1965–1982: Joined UC Irvine as a professor of mathematics and later finance.

Blackjack Revolution

Thorp’s fascination with probability led him to study blackjack. Using an IBM 704 computer, he developed the first mathematically proven card-counting system, detailed in his 1962 book Beat the Dealer. His methods turned blackjack into a beatable game, forcing casinos to change rules (e.g., frequent shuffling).

Wearable Computer & Roulette

With Claude Shannon, Thorp created the first wearable computer to predict roulette outcomes—a groundbreaking (and now illegal) innovation. Hedge Funds & Stock Market Success Thorp applied his mathematical models to finance, founding:

Princeton/Newport Partners (1969–1989) – Market-neutral strategies.

Ridgeline Partners (1994–2002) – Statistical arbitrage. His personal investments reportedly yielded a 20% annual return over 28.5 years.

Personal life

Thorp married Vivian in 1956. He balanced academia with gambling experiments, often using disguises (fake beards, glasses) to avoid casino detection.

Revenue

While exact figures are undisclosed, Thorp’s hedge funds and gambling successes made him a multimillionaire. His books, notably Beat the Dealer, sold over 700,000 copies.

Interesting facts

  • The first wearable computer (with Shannon) was tested in 1961.
  • Exposed Bernie Madoff’s fraud in 1991—17 years before the scandal broke.
  • Inducted into the Blackjack Hall of Fame as an inaugural member.

Legacy

  • Thorp’s w2025
  • s continue to influence gamblers and investors.

Frequently asked Questions

🃏Did Edward Thorp really beat blackjack?

Yes. Using probability theory and card counting, Thorp proved blackjack could be beaten, winning $11,000 in a single weekend during early tests.

❔Is card counting illegal?

No, but casinos ban players who do it. Thorp’s success led to countermeasures like frequent shuffling.

💻How did Thorp’s wearable computer work?

One person inputted roulette wheel speed via toe taps; another received signals through an earpiece to predict winning numbers.

💵What was Thorp’s biggest financial success?

His hedge funds, particularly Princeton/Newport, achieved consistent high returns using quantitative strategies.

📖Did Thorp write other books besides Beat the Dealer?

Yes, including Beat the Market (1967) and A Man for All Markets (2017), an autobiography.

Denis Anipchenko
Denis Anipchenko
Editor-in-chief and online gambling expert

Denis is a true professional with many years of experience in the gambling industry. His career started back in the late nineties when he worked as a croupier, pit boss, manager and casino manager. This unique experience allowed him to deeply understand the world of gambling from the inside. Since the late noughties Denis has dedicated himself to writing articles and analyses about gambling, and since the early tens he has become a key figure in the Casinoz team. Here he not only writes and edits content, but also creates reviews, shares his expertise and helps readers understand the intricacies of gambling. Denis combines practical experience and in-depth knowledge, making him one of the most respected experts in the industry. His writings are always up-to-date, proven and useful information for anyone interested in the casino world.

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Facts checked Alex Vasilev Scientific editor and fact checker
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