One of the most famous groups of casino scammers, the MIT Blackjack team has had multiple books and movies made about them. After meeting at the Massachusetts Institute of Technology, a group of students decided to use their brilliant minds to beat the casinos at blackjack. Once a solid card counting system had been established by the entire group, the team made casino mock-ups and went to small establishments in order to perfect their approach. The chances of being caught were systematically reduced, and a focus was placed on maximising winnings with each play. Once a bankroll had been established from underground games and financial investors, the MIT team made their way to Vegas. Over the course of just one weekend, the team managed to make $400,000 in winnings. Casinos quickly caught on and, although what they were doing was legal, the team were banned from just about every betting establishment in Vegas. They had some success in European casinos, but by then they had become so famous that it was almost impossible to find somewhere that would let them play. In total, the team managed to make a profit of $5 million over five years of card counting. What do you think is the greatest casino scam of all time? Are there any we should have listed here? Let us know in the comments below!
