I’ve been reading Mike Atherton’s publication – Gambling: A Story of Triumph & Disaster. It’s a substantial book with 300+ pages, published by Hodder & Staughton in (2006). Originally priced at £18.99.
To be fair, I’ve never thought about Atherton from a betting perspective although he most certainly has the qualities to be a successful writer (as seen) and gambler being a high-class sportsman, educated at Cambridge University.
It’s a great read because the book is as much about the history of gambling and probability theory as it is about the individuals – from all walks of life – who make insightful stories. In fact, this book mentions the great and good from the spectrum of philosophers, bookmakers and professional gamblers.
I’m almost halfway through…
Chapter 6: All Horse Players Die Broke.
Thankfully, we know that’s not true, as seen with our last article: ‘Professional Gambler: Alan Woods’
Flicking through the pages, I noticed the influence of Edward O. Thorp. If you are thinking his name sounds familiar then you are correct because he is known as the father of card counting and his influential book Beat The Dealer: A Winning Strategy for the Game of Twenty-One (1966) published by Random House, USA. Basically, the mathematics professor showed how the house edge could be overcome by card counting.
As an aside, Thorp, heading toward his 100th birthday in 2032, looks remarkably young for his age. Incredibly so. In fact, he doesn’t look a day over 60.
Clearly, this book which has sold over 1000,000 copies has been the inspiration and realisation that gambling could pay well. As Alan Woods said: ‘ Chance has rules which can be known’.
Probability Theory was very much a journey heading north from God’s Will to thinking analytically whether philosopher or your everyday man on the street. The outcome of rolling the dice wasn’t written in the stars destined by God, but there was another reason based on facts. And those gamblers who understood probability theory held an edge over their lesser-thinking layers.
It was a reason why one canny gambler offered 10,000/1 on throwing six sixes when the true odds are 46,656/1.
It is interesting that Bill Benter, Alan Woods and Tony Bloom all started their gambling learning with blackjack and card counting. The winnings were not only helpful in furthering their professional gambling pursuits from a monetary perspective but also in the learning and understanding that data-driven knowledge was the key to success.
It doesn’t take too much understanding when all three professional gamblers won billions.
That didn’t happen by chance. And if it did, the odds were firmly on their side.
For many successful gamblers, the realisation that betting odds can be turned in their favour is a gateway to the confidence needed to make their fortunes.
You should use this fact too.
Photo: JC 2025
