The Motley Fool Discussion Boards
Investing/Strategies / Retirement Investing
|Subject: Re: Talk me out of a Financial Advisor||Date: 6/2/2013 8:54 PM|
|Author: op456op||Number: 72384 of 78143|
I stand corrected... I thought it was illegal, hence, my cheat comment.
From the Wiki:
As of September 2012, card counting is legal under federal, state, and local laws in the United States as long as no external card counting device or person assists the player in counting cards. It is however frowned upon by casinos. Casinos continue to offer blackjack only because the vast majority of unskilled casual blackjack players more than make up for the small number of advantage players capable of reducing the casinos' edge. In their pursuit to catch card counters, casinos can sometimes misidentify and ban unskilled casual players whose betting style (or lack of) unknowingly mimics betting patterns of card counters.
Atlantic City casinos in the State of New Jersey are forbidden from barring card counters as a result of a New Jersey Supreme Court decision. In 1979 Ken Uston, a Blackjack Hall of Fame inductee, filed a lawsuit against an Atlantic City casino, claiming that casinos did not have the right to bar skilled players. The New Jersey Supreme Court agreed, ruling that "the state's control of Atlantic City's casinos is so complete that only the New Jersey Casino Control Commission has the power to make rules to exclude skillful players." As of 2011, New Jersey Casino Control Commission has not promulgated a regulation to the contrary....
I suppose it could be considered akin to Technical Analysis strategies using certain parameters to determine buy & sell points.
|Copyright 1996-2015 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|