Card Counting 21 - The High Low Method
The MIT Card Counting team used the High Low method. This is an older, balanced system popularized by Jim Thorpe. The basic idea is that due to the casino having to hit below 17, a card counter has a slight statistical edge when there are more high cards in the shoe to played than low cards. Card counting requires you to raise you bet five or ten fold when the odds are in your favor. If the count is not in your favor, you play the table minimum and continue counting.
In the High Low (or Hi Lo) system, you begin the count at zero when the decks are shuffled and placed in the shoe. For every card played, you add or subtract the cards value to the count. This is known as the running count. The running count lets you mentally record the history of the game, and thus you have some idea of what cards are remaining in the shoe.
The card values are as follows...
2 through 6 cards = +1
7 through 9 cards = 0
10 through King and the Ace cards = -1
When the running count goes positive, it means the card counter has the advantage.