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GAMBLERS REJOICE
By WILD BILL ANDARA. Posted: 2005/09/16
Another Las Vegas icon is on the brink of extinction. Griffin Investigations, infamous in gambling circles for creating a black book of undesirables and cheaters, has fallen on hard times. Despite what would have seemed a lucrative niche, Griffin just filed for Chapter 11 bankruptcy.
The most recent and possibly final undoing of Griffin could have come from a lawsuit the company lost against two gamblers who sued for defamation. The judgment they won is now the second highest amount Griffin owes to its list of creditors. The highest amount belongs to the attorneys who represented them in the lost cause.
However, it turns out that Griffin has been losing money for years. Griffin has gained notoriety for its advanced product offerings, often shown on Las Vegas-themed shows seen on the Travel Channel and Discovery Channel. While truly cutting edge, with features such as facial recognition, it seems Griffin couldn't find a way to turn a profit.
One might say maybe Griffin was too good for itself. Griffin has been the nemesis of card counters for years and thrived in the times before the computer age. If Griffin could obtain a clear shot of a face for inclusion into the Black Book, a player's or team's profit potential from card counting was greatly reduced. The method was so effective that many blackjack periodicals even went so far as to list which casinos were subscribers to the Griffin service.
While Griffin still has a practice in town, sending investigators out to confirm suspected counters and cheats, its business just might have wiped out too many of the threats to the casinos. In a bit of irony, Griffin might be reaping more success today if it hadn't put so many counters and cheaters out of business.
Even worse, Griffin created a sense these people were taking thousands of dollars from casinos. While the amount good card counters and cheats can win in an hour is up for debate, most experts have made it clear the majority of those trying to find an edge playing in a casino often never achieve it.
Despite this, casinos have taken an attitude of leaving nothing to chance with onerous rules on blackjack tables, including not allowing mid-round entry and shuffling at low deck penetration points.
Card counting is a dying art. The stories of millions won by MIT grads and players like Ken Uston make for nice dramatic reading today, but aren't practical anymore. The skills and talents needed for success translate well into playing poker for a living, without all the hassles which come from trying to avoid detection. No doubt many players have decided upon that road to riches instead.
Maybe the demise of Griffin could just be another act in the demise of profitable blackjack play as a whole. Blackjack had a great run for about four decades, the game so many wanted to play because of a tantalizingly small house edge and the theoretical possibility it could be beaten.
Then again it could just be the business model built on “tattling” on card counters may just have been unsustainable for the long run. In time, people may accept card counting as using one's brain to play intelligently, instead of cheating or taking advantage of a casino as Griffin wants its customers to believe.
By WILD BILL ANDARA. Posted: 2005/09/16
Another Las Vegas icon is on the brink of extinction. Griffin Investigations, infamous in gambling circles for creating a black book of undesirables and cheaters, has fallen on hard times. Despite what would have seemed a lucrative niche, Griffin just filed for Chapter 11 bankruptcy.
The most recent and possibly final undoing of Griffin could have come from a lawsuit the company lost against two gamblers who sued for defamation. The judgment they won is now the second highest amount Griffin owes to its list of creditors. The highest amount belongs to the attorneys who represented them in the lost cause.
However, it turns out that Griffin has been losing money for years. Griffin has gained notoriety for its advanced product offerings, often shown on Las Vegas-themed shows seen on the Travel Channel and Discovery Channel. While truly cutting edge, with features such as facial recognition, it seems Griffin couldn't find a way to turn a profit.
One might say maybe Griffin was too good for itself. Griffin has been the nemesis of card counters for years and thrived in the times before the computer age. If Griffin could obtain a clear shot of a face for inclusion into the Black Book, a player's or team's profit potential from card counting was greatly reduced. The method was so effective that many blackjack periodicals even went so far as to list which casinos were subscribers to the Griffin service.
While Griffin still has a practice in town, sending investigators out to confirm suspected counters and cheats, its business just might have wiped out too many of the threats to the casinos. In a bit of irony, Griffin might be reaping more success today if it hadn't put so many counters and cheaters out of business.
Even worse, Griffin created a sense these people were taking thousands of dollars from casinos. While the amount good card counters and cheats can win in an hour is up for debate, most experts have made it clear the majority of those trying to find an edge playing in a casino often never achieve it.
Despite this, casinos have taken an attitude of leaving nothing to chance with onerous rules on blackjack tables, including not allowing mid-round entry and shuffling at low deck penetration points.
Card counting is a dying art. The stories of millions won by MIT grads and players like Ken Uston make for nice dramatic reading today, but aren't practical anymore. The skills and talents needed for success translate well into playing poker for a living, without all the hassles which come from trying to avoid detection. No doubt many players have decided upon that road to riches instead.
Maybe the demise of Griffin could just be another act in the demise of profitable blackjack play as a whole. Blackjack had a great run for about four decades, the game so many wanted to play because of a tantalizingly small house edge and the theoretical possibility it could be beaten.
Then again it could just be the business model built on “tattling” on card counters may just have been unsustainable for the long run. In time, people may accept card counting as using one's brain to play intelligently, instead of cheating or taking advantage of a casino as Griffin wants its customers to believe.
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