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Casino Video Blackjack Odds VideoAll about Video Poker with casino gambling expert Michael "Wizard of Odds" Shackleford
Okay, I hope that I have convinced you guys not to play 6 to 5 blackjack when given the choice. These are all based on what are normally, otherwise, fairly standard Las Vegas Strip rules.
Dealer hits a soft 17 , double after split allowed, player make double on any two cards, surrender is allowed, and resplitting aces is allowed. With correct basic strategy, and a blackjack paying 3 to 2, the house advantage under those rules is a nice low 0.
However, if we just change that blackjack pay from 3 to 2 to 6 to 5, then, as I just showed you, the house advantage goes up by 1. You may not really have the choice in that situation, and you may be stuck with 6 to 5, if you must play.
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The house edge is not the ratio of money lost to total money wagered. In some games the beginning wager is not necessarily the ending wager. For example in blackjack, let it ride, and Caribbean stud poker, the player may increase their bet when the odds favor doing so.
In these cases the additional money wagered is not figured into the denominator for the purpose of determining the house edge, thus increasing the measure of risk.
The reason that the house edge is relative to the original wager, not the average wager, is that it makes it easier for the player to estimate how much they will lose.
For example if a player knows the house edge in blackjack is 0. Most players are not going to know how much their average wager will be in games like blackjack relative to the original wager, thus any statistic based on the average wager would be difficult to apply to real life questions.
The conventional definition can be helpful for players determine how much it will cost them to play, given the information they already know.
However the statistic is very biased as a measure of risk. In Caribbean stud poker, for example, the house edge is 5. However the ratio of average money lost to average money wagered in Caribbean stud is only 2.
The player only looking at the house edge may be indifferent between roulette and Caribbean stud poker, based only the house edge.
If one wants to compare one game against another I believe it is better to look at the ratio of money lost to money wagered, which would show Caribbean stud poker to be a much better gamble than roulette.
I personally opt to include ties although I respect the other definition. For purposes of comparing one game to another I would like to propose a different measurement of risk, which I call the "element of risk.
For bets in which the initial bet is always the final bet there would be no difference between this statistic and the house edge.
Bets in which there is a difference are listed below. So, for every betting units wagered, you can expect to lose 5. This may not seem like a lot, but several important factors must also be considered.
Multiply 25 times 60 hands and you are playing through 1, units an hour. That means that you play through about 6, credits of which the casino expects to take 0.
Consider how much the house would expect to gain by your playing roulette for the same amount of time. Roulette is a slightly slower paced game, with maybe a round every couple minutes or so, and not many players are quite avid enough to spend four hours at a table.
But, for arguments sake, we will examine that at a rate of 30 rounds per hour with a flat bet of 25 credits, playing for four hours, a casino would expect to make Some people gamble at a casino for the fun and excitement that this unique form of entertainment delivers.
That is perfectly fine, as gambling at an online or land-based casino can be a leisurely, enjoyable hobby.
However, the truth is that - given the choice - most players prefer to win, and there are proven ways to dramatically reduce the chances of losing - namely by not playing games with bad odds - such as keno.
This is actually as good as the odds get for keno, with the odds varying from casino to casino. The following chart shows the expected house edge for casino table games and also sports betting.
To see how the house edge is playing out for players at online casinos, you may examine a monthly ranking of recent online casino payout percentages, broken down by category such as table games, slots, poker games and overall payouts.
These are the games upon which you should focus. Coincidentally, craps and blackjack are two of the most popular online casino games, and this makes their study feel less like actual study and more like fun.
How is this possible? Learning basic strategy to perfection is the first step. Next is becoming a knowledgeable and accurate card counter.
Lastly, adjusting bets and hand decisions based on the count while masking your expertise to the dealer, pit personnel, and preferably other players.
Unless you are already a natural genius at math, this will likely take hundreds of hours of practice. Few ever make it to the level of professional blackjack player.
If you are able to someday acquire this elite status, you can expect to have an edge over the house at somewhere between 0.
A professional player can expect to make in the neighborhood of 30 units per hour playing blackjack, depending on betting level.
While this is a lot more than minimum wage, it is not a salary by which millionaires are made either. This is just an example of one way to make smart play work for you.