MIT Video Poker Team?

[FloridaPhil]

I've been reading about the MIT Blackjack Team who made millions counting cards and I have a few questions for the experts. Why doesn't someone put together a Video Poker team to do essentially the same thing? I have heard VP teams exist. How do they split the money? How do they keep from being banned? How can they be sure they're not stealing from each other? Is there enough money in VP today to make a team worthwhile? Are teams obsolete?

[stevel96a1]

i thought about that too, problem is highest return is 100.76 is 0.25

but blackjack is 1-2% on whatever you wish it to be.

so it boils down to +0.76 edge on a 1.25 bet or 2% edge on a 1,000$ bet
over time the blackjack team is ahead on percentage and cash

[case]

There are VP teams that take down progressives when they reach the right level.

As far as regular VP a team offers no advantage. It is you against the machine you are playing.

[OTABILL]

Frank Kneeland headed such a VP progressive team. He discussed it in the forum years ago during the time he was a co-host on Dancer's radio show.

[billryan]

The MIT team existed because they needed a mix of spotters and big players. No such need in VP.
VP players may team up because the more players in a group, the less variance there is.
No one has brought up the main reason people team up, and I certainly wont.

[FloridaPhil]

From the books I have read, it seems VP teams were popular at one time. Bob Dancer discusses this in his older books. I was wondering how professional VP has changed since then. I can see the advantage in a big progressive situation where you fill the seats with team members. If the team worked separately, I would think honesty would be the biggest issue. How often do professional VP players get banded because they are too good?

[FAA]

Probably some comp related benefits. Everyone using each other's cards to pile up points on special days?

[billryan]

Being on a team is all about trust. It's not easy getting already established teams to take in new members. First, because there are few such openings and secondly because of the trust issue.
Starting such a team must be even harder. Outside of your family, how many people do you really trust?

[FAA]

Of course. Major hassle. In lieu of such measures, I have resolved to play shorter sessions. The results have been splendid. Don't let casino edge burn you. Even in torrential rain, I jitneyed to a cool new sports book and unplugged for three hours. Best $4.50 deal in town!

[billryan]

Fantastic