house's edge on blackjack

[agentman]

Anyone Try THis

I have played blackjack at the casinos occassionally, lately i have read quite a few books and learned basic strategy as well as progressive betting systems. I figure if you apply these plus a stop limit for wins and losses (eg. walk away after winning $800 and walk away if you lose $250), in the long run you will come out ahead. Just asking if anyone has tried this and how it worked out for them. Peace.

 

[cypherpunk]

Just asking if anyone has tried this and how it worked out for them. Peace.

I haven't tried it, but knowing when to quit is always good. In this case, it takes the house's unlimited resources, a house advantage, out of the equation.

 

[wonkyknee]

be prepared to possibly lose 15-20 hands in a row.

that's $25, $50, $100, $200, $400, $800, $1600....oh yeah only 5-6 hands and you bump into the table maximum...and only 7 hands in you've lost over $3000.

 

[1HandInMyPocket]

yes I agree with wonkyknee. This type of progressive betting (the matingale), though on paper looks statisically appealing can be very dangerous. I'm speaking from personal experience other games.

 

[Dawgger]

be prepared to possibly lose 15-20 hands in a row.

that's $25, $50, $100, $200, $400, $800, $1600....oh yeah only 5-6 hands and you bump into the table maximum...and only 7 hands in you've lost over $3000.

That doesn't include splits and double downs!

 

[agentman]

Strategy Refinement

yes I agree with wonkyknee. This type of progressive betting (the matingale), though on paper looks statisically appealing can be very dangerous. I'm speaking from personal experience other games.

Thanks, the Martingale betting system can be extremely detrimental. I read about a more conservative/sensible betting system whereby you have to win twice before u raise your next bet by a chip. For example; $10 bet, win, next $10 bet, win, next bet $15, win, next bet $20, etc. if you lose the following hand, u go back to your minimum $10 bet. This type of betting strategy takes advantage of possible win streaks, if there is none u look for another table.With this, plus setting loss/win limits and basic strategy, i figure in the long run the player will come out ahead. Feedback and ideas on this plan is encouraged/appreciated. Peace.

 

[homonger]

One of the reasons why card counting works in blackjack is that you have the option to raise your bets when the count is favorable, and lower your bet when it is less favorable.

It is entirely possible that if you raise your bets when you seem to be running well, and keep them at the minimum when you seem to be getting clobbered, you are simply doing the same thing, although perhaps not intentionally.

IMO, the best way to "beat" the game is to master basic strategy, count cards well, and then use your bets effectively when you have the edge. Otherwise, you're just guessing when you raise or lower your bet.

The Martingale system breaks down because as someone mentioned, it is not uncommon to lose 5, 6, 7 hands in a row, and then what are you doing? You're wagering $500 to win back the original $10 lost. And even if you do win, all that does is bring you back to even.

 

[mike0040]

House edge is the house doesnt drink!!!!

Cheers!!!!

 

[terbite321]

Martingale system - worth a whirl?

Never knew what it was called until reading this thread, but I have been testing Martingale betting system in the painless on-line world of Facebook BJ. I have found that by betting really low, playing the system fairly closely, I have been able to be up over time. Not scads of money, but much better than my average hourly wage at work.

I start with 1000 and assume a table minimum of 5 or 10 and maximum of 500. I am always betting to make money, not break even. My needs are modest, I just want to parlay my 1000 gambling budget into a week of fun and maybe small profit of couple hundred per night so I can treat the GF.

Bet 5, as long as winning keep betting 5. If I lose a hand, I go into progressive betting so that whenever the losing streak ends, I am back up to the point where I started the losing streak.

So game on:
Bet 5. Win. I am at 1005.
Bet 5. Lose. Back to 1000.
Bet 5. Lose. Down to 995. (Here we go. System, do your thing!)
Bet 10. Lose. Down to 985. (Calm. Trust the system.)
Bet 20. Lose. Down to 965. (Stay the course. Stay the course.)
Bet 40. Lose. Down to 925. (Starting to squirm)
Bet 80. Lose. Down to 845. (What have I gotten myself into?)
Bet 160. Lose. Down to 685. (Get out idiot! You should have listened to the guys on TERB!)
Bet 320. Lose. Down to 365. (Why is everyone looking at me. Never see a grown man sobbing uncontrollably?)

But if I win any of these 7 hands after losing the first one, I am back up to 1005. If I then bet 5 and win I am up to 1010, and the slow steady progress continues into the night. I understand the risk that the streak could last longer than 7-8 hands and it has happened online, but only rarely. On balance the streaks last max 4-6 which requires some steady nerves to weather. I usually try to quit when I am up 150-300 depending how well things are going (usually about 1-2 hrs online which I assume moves much faster than real world).

I have heard of slightly more aggressive version that says you are always betting to make money, even when trying to end a losing streak (rather than just getting even with where you were when streak started. The downside of this to me is that it give one hand fewer to hit maximum bet limit.

Before I test this on vacation in a couple of weeks, I would appreciate the benefit of any real world experiences.

Cheers...TB

 

[agentman]

For BlackJack, some casinos use the continous shuffle machines. After a number of hands (around 48 to 53 cards roughly), the cards from the discard tray gets put back into the machines. Anyone know how many decks are used in the contious shuffle machines?