I found that blackjack was the easiest way for me to make gold as well.
I didnt know when you swap cards, that cards went back into your 'deck'. I will have to check that out, cool way to get some more aces.
When you are caught cheating you are penalized 100 gold, PLUS all the gold you won since you sat down. To keep such penalties to a minimum, when you win a hand, cheating or not, stand up, and then sit back down. This resets the amount won to 0, thereby limiting the penalty when/if you do get caught.
Another trick I found, that really doesnt help... If I logout immediately after having been caught cheating.. I dont go to jail.
Although its not alot of gold, the easiest gold I found that I could make was to do all 3 quests from the guy hiding behind a barrel in port royal. Not alot of gold, but sink one ship (not the ones he says).. ANY ship, and it fills all 3 quests.
Zeppers lvl40
http://pirates.teamofx.us