Quote from Error 404:
Card counters are "contained" by the casinos in several ways. The most effective way to take the edge from a counter is to limit the ratio of the max bet to the minimum bet. Last time I looked, (which has now been a few years), 21 tables (they are not called Black Jack except for on the drop boxes) have limits posted. Both minimum bets and maximum bets. Therefore, it is not possible to bet $5 on a hand when the deck is thin, and then bump up the bet to $5000 when the deck is rich.
Interesting, Brother rs7... in trading terms, this may be equivalent to your broker banning effective position sizing when at greater than average or less than average volatility, and only allowing effective position sizing when the financial instrument is trading within the mid-range of its historical volatility...
In effect, the casinos are taking away a large chunk of the fat-tail in the gambler's returns, removing the ability of the gambler to fully exploit any leptokurtosis occuring in the non-normally distributed outcomes of blackjack... such a policy sucks...
RS
