Edward Thorp was another very famous mathematician who developed the mathematics of risk strategies for casino blackjack. Edward Thorp received his PhD. in mathematics in 1961. He was also an M.A. in Physics and was an MIT lecturer. He taught mathematics and quantitative finance. Edward wrote a paper that described some of his early blackjack tricks that he practiced on an IBM 704.
In 1962 Edward Thorp came out with a book titled Beat the Dealer and this book shook the very foundations of entire casino gaming industry. After reading Thorp's book people started winning and making easy money in blackjack games.
The effect of the book was such that most casinos altered the rules of the game to tilt it back in their favour. However, this led to a very strong reaction from players who started boycotting the casinos that implemented altered rules. Finally, the casinos had to resort to the old rules but they still managed to keep out the ones that were totally cracked by Thorp.