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Lucky Devils: The True Story of Three Rebel Gamblers Who Beat the Odds and Changed the Game
The secret history of a trio of gamblers who used homemade technology and their own ingenuity to outplay the house, raking in hundreds of millions of dollars and transforming the way games are played.
In the late 1970s, three men declared war on the casino. They arrived in Las Vegas just as the personal computer was beginning its boom. If the power of computers could be applied to gambling, they reasoned, a player could make a mint. There was only one How do you smuggle a computer, typically, the size of a suitcase, onto a casino floor without getting noticed?
Using cutting-edge strategies and technology that was decades ahead of its time, they did just that. They became pioneers of what’s known as advantage playing, applying their intellects and creativity to everything from poker and blackjack to horseracing and roulette. For more than thirty years they faced down angry pit bosses, violent Mafiosos, bankruptcies, nights in foreign jails, lawsuits, and personal betrayals. They learned that the only thing harder than reaching the pinnacle of gambling achievement was staying there.
Drawing from exclusive interviews with all three players and their associates, award-winning Bloomberg journalist Kit Chellel delivers a cinematic and often uproarious account of fortunes gained, lost, and gained again. Scrupulously reported and irresistibly told, Lucky Devils reveals how these players did more than simply amass wealth; they revolutionized the game itself.
They gave the lie to the old adage—the house doesn’t always win.
In the late 1970s, three men declared war on the casino. They arrived in Las Vegas just as the personal computer was beginning its boom. If the power of computers could be applied to gambling, they reasoned, a player could make a mint. There was only one How do you smuggle a computer, typically, the size of a suitcase, onto a casino floor without getting noticed?
Using cutting-edge strategies and technology that was decades ahead of its time, they did just that. They became pioneers of what’s known as advantage playing, applying their intellects and creativity to everything from poker and blackjack to horseracing and roulette. For more than thirty years they faced down angry pit bosses, violent Mafiosos, bankruptcies, nights in foreign jails, lawsuits, and personal betrayals. They learned that the only thing harder than reaching the pinnacle of gambling achievement was staying there.
Drawing from exclusive interviews with all three players and their associates, award-winning Bloomberg journalist Kit Chellel delivers a cinematic and often uproarious account of fortunes gained, lost, and gained again. Scrupulously reported and irresistibly told, Lucky Devils reveals how these players did more than simply amass wealth; they revolutionized the game itself.
They gave the lie to the old adage—the house doesn’t always win.
- GenresNonfictionHistoryFinance
288 pages, Hardcover
Published April 14, 2026
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Displaying 1 - 13 of 13 reviews
Review of advance copy received from Goodreads Giveaways
*Goodreads Giveaway* Fascinating read into the background and rise of advantage players and three of the most prominent during the 80s-90s. While I enjoyed the read some of the details surrounding the mathematical details was a bit above my head, but math was not my forte. It did not detract from the overall read. These three gentlemen were geniuses and ahead of their time. They were also in the right place at the right time. And for us mere mortals, yes, the house always wins.
Thank you to Goodreads, the publishers, and the author for the opportunity to read an advanced copy of the book.
Thank you to Goodreads, the publishers, and the author for the opportunity to read an advanced copy of the book.
Review of advance copy received from Goodreads Giveaways
I don't know much about gambling. Still don't. But I found this book fascinating. It describes how gamblers used technology and brain power to gain an edge over the House. The three men featured in this book began their careers as young adults, fascinated by mathematics and the thrill of the chase of the idea of how to skew odds into their favor. Their use of technology to calculate their odds of success changed gambling- and the world- has changed in my lifetime through the drive and passion of the three people featured in this book. Friends and associates are also highlighted- people that they worked with and met throughout their careers as gamblers as they developed their methods and theories. Beating the system could only work for so long before their efforts were noticed and led to changes in the industry to improve the odds for casinos at the expense of the professional gambler. When casinos re-examined their tools and upped the ante to make it more difficult for professional gamblers, professional gamblers would re-examine their methods and adapt.
Gambling is big business. Casinos prey on people, often those with little to lose. Professional gamblers often saw themselves as sticking up for the themselves and casual gamblers. "Us vs Them (the casinos or other gambling institutions". Making a career as a professional gambler takes a lot of hard work- being able to sell yourself and your methods to investors willing to take a chance, watching machines and recording results, investment in technology, mathematics, and game theory, etc. The work of these three professional gamblers improved not only their pockets, but also led to breakthroughs that could be applied to other fields of study- game theory, marketing, and others.
For me, the Interlude and Epilogue sections have a great summary of the impact their methods have had upon the world. Gambling has exploded world-wide, legal challenges to prohibitions on sports betting, online poker, and more recently the development of other forms of gambling. World events and political decisions/actions are now activities eligible for games of chance. The big payout is getting harder to find. They've made their fortunes and made peace with their actions.
Gambling is big business. Casinos prey on people, often those with little to lose. Professional gamblers often saw themselves as sticking up for the themselves and casual gamblers. "Us vs Them (the casinos or other gambling institutions". Making a career as a professional gambler takes a lot of hard work- being able to sell yourself and your methods to investors willing to take a chance, watching machines and recording results, investment in technology, mathematics, and game theory, etc. The work of these three professional gamblers improved not only their pockets, but also led to breakthroughs that could be applied to other fields of study- game theory, marketing, and others.
For me, the Interlude and Epilogue sections have a great summary of the impact their methods have had upon the world. Gambling has exploded world-wide, legal challenges to prohibitions on sports betting, online poker, and more recently the development of other forms of gambling. World events and political decisions/actions are now activities eligible for games of chance. The big payout is getting harder to find. They've made their fortunes and made peace with their actions.
Review of advance copy received from Netgalley
Lucky Devils by Kit Chellel has a lot going for it. Chellel's writing is quite vibrant, and the fact we keep getting Ocean's Eleven movies proves we love a good caper. This isn't a heist book but more of a long-term strategy to make a bunch of money through both legal and maybe not legal means. The problem is that there is no true villain to root against in this one.
The book follows three men who want to figure out how to beat the house. They eventually come into each other's orbits, but they have their own journeys along the way including wildly different outcomes. Chellel walks through how each of them decide to take on the casinos and does a good job explaining how. The people to whom I would recommend this to would be most interested in this section where each man looks at how computers or other strategies put them in position to win.
The thing keeping this book from being truly great is the lack of a central villain or even some kind of heroic mission. These men just want to beat the house and make money. The closest to an antagonist is a fellow gambler or two but otherwise this is just about the money. I think it takes the narrative back a bit so that the audience for this one is whittled down to people interested in the gambling specifics. Not a bad thing, but something to be aware of.
(This book was provided as an advance reader copy by NetGalley and Atria Books.)
The book follows three men who want to figure out how to beat the house. They eventually come into each other's orbits, but they have their own journeys along the way including wildly different outcomes. Chellel walks through how each of them decide to take on the casinos and does a good job explaining how. The people to whom I would recommend this to would be most interested in this section where each man looks at how computers or other strategies put them in position to win.
The thing keeping this book from being truly great is the lack of a central villain or even some kind of heroic mission. These men just want to beat the house and make money. The closest to an antagonist is a fellow gambler or two but otherwise this is just about the money. I think it takes the narrative back a bit so that the audience for this one is whittled down to people interested in the gambling specifics. Not a bad thing, but something to be aware of.
(This book was provided as an advance reader copy by NetGalley and Atria Books.)
Review of advance copy received from Netgalley
What a fun and interesting read! I’m not much of a risk taker let alone a gambler (my luck is not worth mentioning) but this story grabbed my attention for these very facts.
This is the story of three men, Bill Nelson, Bill Bender and Rob Reitzen, who used math and early computers to revolutionize the world of advantage gambling. Advantage gambling is using legal methods to gain an advantage in gambling as opposed to cheating. These three men used statistical modeling in horse racing, gambling and roulette. This all took place in the 1970-1980s and the desire of all three when first came to Las Vegas was “to beat the house.”
Nelson won success with a sports-betting group that was eventually targeted by the FBI but went on to find success with roulette. Reitzen went on to found online betting sites. Betner had the greatest success in Hong Kong in horse racing. He went on to found the Betner Foyndation to fund the arts, financial education and Alzheimer’s research.
What I enjoyed most about this book was that it was easy to understand (math is not my strong suit - I thank the Lord every day for calculators!). It was also written in chronological order - each man his own chapter with information on his career/life. I also liked the pictures that started each chapter.
This is a fascinating story of how advantage gambling morphed into the behemoth it is today. I was all the gambling commercials not understand a thing, but now I know a little bit more about gambling (but not enough to wade into it).
I’d like to thank NetGalley and Atria Books for allowing me to read this ARC.
This is the story of three men, Bill Nelson, Bill Bender and Rob Reitzen, who used math and early computers to revolutionize the world of advantage gambling. Advantage gambling is using legal methods to gain an advantage in gambling as opposed to cheating. These three men used statistical modeling in horse racing, gambling and roulette. This all took place in the 1970-1980s and the desire of all three when first came to Las Vegas was “to beat the house.”
Nelson won success with a sports-betting group that was eventually targeted by the FBI but went on to find success with roulette. Reitzen went on to found online betting sites. Betner had the greatest success in Hong Kong in horse racing. He went on to found the Betner Foyndation to fund the arts, financial education and Alzheimer’s research.
What I enjoyed most about this book was that it was easy to understand (math is not my strong suit - I thank the Lord every day for calculators!). It was also written in chronological order - each man his own chapter with information on his career/life. I also liked the pictures that started each chapter.
This is a fascinating story of how advantage gambling morphed into the behemoth it is today. I was all the gambling commercials not understand a thing, but now I know a little bit more about gambling (but not enough to wade into it).
I’d like to thank NetGalley and Atria Books for allowing me to read this ARC.
Review of advance copy received from Edelweiss+
This book provides a fascinating look at the field of "advantage gambling" from the 1970's through the 1990's / early 2000's. Advantage gambling is the use of applied mathematics and computing to snatch up part of the advantage in odds that normally accrues to "the house" (i.e. the casino / gambling establishment) to make gambling not so much a sucker's game. Card counting is a specific variety of this undertaking. This story is largely told through the life stories of three prominent advantage gamblers, Bill Benter, Bill Nelson, and Rob Reitzen. While the book starts with card counting in blackjack, it broadens beyond that -- and even beyond the casino -- into horse races and online poker.
As one reads about the activities of these gamblers, one also learns about intriguing, related subjects such as the mafia's hand in Vegas, the development of computing technology (as it applied to gaining advantage,) and even how a younger Trump managed the challenging task of losing money through casino ownership.
If you're interested in how smart people have tried to beat the house, and the risks that that entails, I'd highly recommend this book. I found the book compelling from start to finish.
As one reads about the activities of these gamblers, one also learns about intriguing, related subjects such as the mafia's hand in Vegas, the development of computing technology (as it applied to gaining advantage,) and even how a younger Trump managed the challenging task of losing money through casino ownership.
If you're interested in how smart people have tried to beat the house, and the risks that that entails, I'd highly recommend this book. I found the book compelling from start to finish.
April 18, 2026
The author wrote the long form article "The Gambler Who Cracked the Horse-Racing Code" in 2018 (about one of the main people in this book) which I enjoyed so much that I always come back to it every so often. He also wrote a number of other interesting stories on advantage gambling in Bloomberg including one on the Croatian who won over a million dollars at the Ritz playing roulette. This book is about 3 very interesting gamblers who emerged during the card counting era spawned by the publication of Thorp's "Beat the Dealer."
I think the writing could have been better but I was never bored at any point and the book contains several new details that have not been reported anywhere else so I give it five stars. The added history on Bill Benter/Alan Woods betting on horses in Hong Kong was especially of interest to me. Also covered is the famous Computer Group syndicate who Bill Nelson crossed paths with. The stories of Rob Reitzen making and losing many fortunes along with tales of stealthy wearable devices not too dissimilar from that one scene in the movie "Casino" were also very fun to read.
I think the writing could have been better but I was never bored at any point and the book contains several new details that have not been reported anywhere else so I give it five stars. The added history on Bill Benter/Alan Woods betting on horses in Hong Kong was especially of interest to me. Also covered is the famous Computer Group syndicate who Bill Nelson crossed paths with. The stories of Rob Reitzen making and losing many fortunes along with tales of stealthy wearable devices not too dissimilar from that one scene in the movie "Casino" were also very fun to read.
Review of advance copy received from Netgalley
Highly enjoyable look at 3 main individuals, and a lot of others, who were innovators in using computers to win big at Casinos and Racetracks. Massive amounts of time and work went into their efforts to make and lose Millions in this effort. From Blackjack, to Roulette, to Horse Racing and more these efforts to win began in the 1970's and included toe signaling and zappers in the groin area. What people do. They also found "defective" roulette wheels that neither the casino nor the average player knew existed. Lots of big takeaways from this book including the lack of joy in winning, losing friends, constant stress and how they can now sucker you in with online betting. A real eye opener and fascinating look at these mens lives and the entire gambling industry. Only drawback was that sometimes I had a hard time understanding the math that was required for the computer programs. 4.5****
May 6, 2026
Reading 2026
Book 93: Lucky Devils: The True Story of Three Rebel Gamblers Who Beat the Odds and Changed the Game by Kit Chellel
Listened to this book on audio when I was looking for something read on pub day, April 14. I have also not gotten my nonfiction percentage up to 25% this year.
Synopsis: The secret history of a trio of gamblers who used homemade technology and their own ingenuity to outplay the house, raking in hundreds of millions of dollars and transforming the way games are played.
Review: Hmmm, this book was not for me. It was interesting in parts, but most of the book did not hold my attention, nor did I care that much about gambling. Lucky Devils was under 300 pages, so if you are interested in the origins of advantage gambling this is the book for you. My rating 3⭐️.
Book 93: Lucky Devils: The True Story of Three Rebel Gamblers Who Beat the Odds and Changed the Game by Kit Chellel
Listened to this book on audio when I was looking for something read on pub day, April 14. I have also not gotten my nonfiction percentage up to 25% this year.
Synopsis: The secret history of a trio of gamblers who used homemade technology and their own ingenuity to outplay the house, raking in hundreds of millions of dollars and transforming the way games are played.
Review: Hmmm, this book was not for me. It was interesting in parts, but most of the book did not hold my attention, nor did I care that much about gambling. Lucky Devils was under 300 pages, so if you are interested in the origins of advantage gambling this is the book for you. My rating 3⭐️.
Review of advance copy received from Edelweiss+
After Edward Thorp broke the casinos' hold on blackjack by introducing card counting to their world, many imitators followed. Most were less skilled, not as determined, and probably not as smart. But there were exceptions and Lucky Devils profiles three of the most interesting of them. Even with luck, determination, and smarts, gambling success is elusive. The three "rebel gamblers" used different strategies, had varying degrees of success, and left an unclear legacy. This is not a how-to guide to casino riches, but it is a riveting story of three very different men and the unusual paths they took to Beat the Casino. Great storytelling!
Review of advance copy received from Goodreads Giveaways
Ir was a good read.
Review of advance copy received from Goodreads Giveaways
I won this ARC in a Goodreads giveaway, and I'm so happy I did! I was shocked by how interesting and entertaining it was the whole way through. loved it!
April 30, 2026
For someone who likes to gamble occasionally, I found this book interesting. I knew people counted cards but everything else was amazing to learn.
May 14, 2026
Fascinating read,a must for any gambler
Displaying 1 - 13 of 13 reviews