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The film is based on Ben Mezrich's book Bringing Down the House: The Inside Story of Six MIT Students Who Took Vegas for Millions (2002).
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Ben Mezrich spent several years gathering information about a group of MIT students who used an advanced card-counting system. He met with former team members, with the main protagonist himself, with casino security system specialists, and with everyone else who had anything to do with that story.
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Filming took place from March 2007 in Boston and Las Vegas.
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Jeffrey Ma (the real-life inspiration for Ben Campbell) made a cameo as a dealer at the Planet Hollywood casino.
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One of the members of that MIT student team, and possibly the main character himself, was John Hirschtick — the founder and first CEO of SolidWorks.