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Reply To: This is how online casinos make money

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#721530
Anonymous
Inactive
nick777 wrote:
Add me to that list too

I have no idea what these guys are talking about

These are the odds:

—- 4 Deck, H17, DOA, DAS, LSR, RSA=4, RSP=4 —
Player Hand: 10,10, Dealer upcard: 6 Decision: Stay
Hit:-0.85222 Stand:0.67576 Double:-1.70445 Split:0.36302

http://www.geocities.com/TimesSquare/Realm/2009/BJC/Edge.html

Those are the same figures that the Wizard provides. So either the site you quote just copied them, or they independently calculated the same results.

You’ll find them in the second chart on this page:

http://wizardofodds.com/blackjack/appendix9-4dh17r4.html

Quote:
Stand: 0.675 x 2 = 1.35
Split: 0.363 x 4 = 1.45

You don’t understand what the figures mean.

The return figures are for the overall hand. There is no multiple involved.

You play one hand of $100. You are dealt 10,10 against a 6. If you stand, your return is $167.50. If you split, your return is $136.30. That’s your complete return, already taking into account the fact that when you split, you place another $100 on the table and thus, when you win, you win twice as much. That’s all already factored in.

So the figures you just quoted from that Geocities page (which were just copied from The Wizard) show exactly what we have been saying all along. In the long run, if you stand you get more ($67.50) then when you split ($36.30)

Do you see now?

Quote:
But i’m sure everyone except the Wizard is wrong

Just you I’m afraid.

Quote:
Personally I think there is way to much time spent on this pissing match, I say call it a draw and everyone just walk away.

Fair enough, but it worries me that there are so many inaccuracies and misconceptions amongst casino affiliates.

More than that though, what really surprises me is the foolish arrogance shown by assuming that one’s own theories are correct over those of the established, proven experts in the field. It’s like overruling your doctor’s advice because you have your own hunch. It’s madness.

We’re not saying these things to annoy you. It’s just fact, proven beyond doubt by the experts in the business. Why would one even think to question that, just because one’s back-of-an-envelope calculation says something different? In that scenario I would just assume that I had made a mistake, and try to learn where I went wrong.