Joseph Jagger: The Man Who Broke the Bank
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Joseph Jagger
Joseph Jagger was a great 19th-century roulette player. In a brief but exciting roulette career, Jagger went down in roulette history as "The Man Who Broke the Bank at Monte Carlo."
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Joseph Jagger was born in 1830 in the village of Shelf in England. He became a
mechanic and engineer in the cotton industry. In 1873, he decided to apply his
mechanical and engineering knowledge to the game of roulette. All human
inventions, he understood, were prone to imperfection. What if there were
imperfections in the roulette wheel that he could exploit to his advantage?
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Gambling on a Biased Roulette Wheel
With these thoughts in mind, Jagger hired six clerks to observe the six roulette
wheels at the Beaux-Arts Casino in Monte Carlo and to secretly record all the
winning numbers. When he analyzed the results, Jagger found that five of the
roulette wheels produced the random results that one would expect. On the sixth
wheel, however, he found that nine particular numbers appeared more often than
mere chance could account for. Jagger concluded that the wheel was biased -
i.e., imperfectly balanced.
Jagger put his knowledge to work and started gambling on the biased roulette wheel. Over the course of four days, he won $300,000.
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The Casino Fights Back - I
The Beaux-Arts Casino, of course, was not happy to be losing so much money. During the night, while the casino was closed, it moved all the roulette wheels around to different tables. The next morning, Jagger went to his usual roulette table but, facing an unbiased wheel, he did not win as he expected. He then realized that a tiny scratch that he had previously noticed on his biased wheel was no longer there. He surveyed the room, and found his biased roulette wheel - with its tell-tale scratch - at a different table. He started gambling again, and raised his total winnings to more than $450,000.
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The Casino Fights Back - II
This time, the casino went all out to defeat Joseph Jagger. Each night after
closing, they would take the roulette wheel apart and move the frets (the little
metal barriers that separate the numbers on the wheel) around to different
locations on the roulette wheel. Playing against the reconfigured wheel, Jagger
went on a two-day losing streak. Eventually, he gave up. He took his $325,000
remaining profit and left Monte Carlo. He never played roulette again.
Jagger resigned from his job at the cotton mill and invested his $325,000 in roulette winnings - equivalent to about $5 million in today's money - in real estate. In 1892, a song about his exploits, called "The Man Who Broke the Bank at Monte Carlo," became a popular hit throughout Great Britain. Thus Joseph Jagger was immortalized in roulette history.
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