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Online Blackjack News - Former MIT Blackjack Wiz Co-Founds Online Sports Player Trading Venture
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Jeff Ma spent six years on the MIT blackjack team, which in the span of three of those years, won over $3 million at the blackjack table, using card counting techniques and the laws of probability to beat the casino. Those days are long gone, and Ma is using what he learned on the team about probability and statistics for a different purpose. Ma, together with Mike Kerns, founded Protrade Inc., a start-up company whose prime offering is an online athlete trading service, which essentially turns sports stars into stocks.
Protrade went online just a few days ago, at www.protrade.com. Protrade assigns a value to each player, sort of like a stock price, and users can trade player “stocks.” As more users buy a certain player's “stock,” the player's value rises. At least at first, users will trade using play money only, and trading will be limited to NFL players only, until licensing agreements are landed with other leagues.
While there is little in common between blackjack card counting and the current venture, similar lessons apply in both. Ma was quoted as saying that his time on the MIT blackjack team taught him that analysis and quantification can be applied to even more emotional subjects, including sports.
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| Source: Blackjack2002 News Staff
| Wednesday, 21 September 2005 |
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