Alan Woods was born in 1945 in New South Wales, Australia. He was a mathematician and Professional gambler and was well known in gambling circles in Australia and Hong Kong.
The Early Years
Alan Woods studied Mathematics at the University of New England in Armidale, Australia. However, He never completed his degree as he dropped out of University a year before his graduation.
He initially played poker machines in around the Australian casinos, but when he moved to Sydney, poker machines were not available, so he stopped playing.
He then started working as an actuary, and it was here that his job was to calculate the odds on all of the games for the Wrest Point Casino in Tasmania.
He initially felt that the house always had the edge on Blackjack and could not be beaten. However, his mind changed when his fellow bridge players told him about card counting. He tested this method at various casinos in Australia and started winning and developing a gambling habit at the same time.
Alan Woods Meets Bill Benter
In 1979 his wife left him due to his gambling habit, and he moved to Las Vegas where he met Bill Benter.
By this time numerous casinos had banned Alan Woods, so he started focusing on Horse Racing.
Bill Benter and Alan Woods developed a mathematical horse racing strategy to predict the winners, but initially failed miserably and lost a lot of money between them. In their last year together they started making money, but by this time they had decided to go their separate ways.
Alan Woods Gambling Career
Alan Woods continued to use the financial algorithms for betting on Horse Racing and landed up becoming a very wealthy man.
He never, however, stepped foot on a racecourse but instead spent most of his time at his home leading a playboy lifestyle with weekly parties.
He died of cancer in Hong Kong in 2008.