Blackjack player beats 3 Atlantic City Casinos for $15.1M

I find that just having a good idea of numbers and probability play more of a factor then knowing the game.

As with most gambling any move made usually isn't a terrible move. Moves that are "wrong" Often have higher odds paying more.

By that fact, any move is an OK move. Generally speaking, not black jack in particular.

So the typical gambling strategies do give a bit of an edge but very little 5-15% maybe.

Knowing when to bet, based on statistical history analyses and how much to bet often yields a higher win percentage.

when i play black jack I bet minimal amounts. Then, when I have a good feeling (based on consecutive amounts of times the dealer beat my cards ) I drop 100$ This is done blind without seeing any cards.

It's a very basic strategy that doesn't take any brains, but it is always amazing how there is a pattern of dealer wins to player wins.

So the strategy is less about cards or the game (I'm probably a slightly above average player), For me it more its more about analyzing which aspect that is our control yields the highest profit.

I am fascinated by how everything has a pattern and how probability is the tool to take advantage of it. That coupled with the fact that its easy to keep track of compared to card counting.

but much respect for anyone that can count cards or even come close to being able to count cards, my hat's off
 
Traitor.. Blackjack basic strategy is a chart in most bj books & online on how to play your hand vs the dealers face card. hit. stand. split. double. standard statistical chart that helps players make the correct plays in playing bj. its all subjective. its always good to have knowlege of the game your playing to put the odds in your favor. everyone has a different approach to playing. people that can't add up the total of the cards in front of them should not be allowed to even play. always entertaining to watch people throw their money away with their idiotic plays at the table. you can always notice the good & bad players pretty quickly. the players that have some knowledge & common sense have a chance to win.
 
Well I understand the chart and the logic behind it , I also understand that in general there are more 10's in the deck and it is best to assume you are going to get a 10. That if i remember was the whole idea of the chart, imagine you and the dealer gets a 10, now who wins, who busts and who losses. So i don't know the chart per say, but i know what it is based on, nothings memorized,

as far as the guy having trouble counting the cards, don't be deceived, many people with dysarithmia (or disaritimia) cnat add 2 numbers in their head but can run circles around others with the way they manipulate math.

I wonder what would happen if some of them became traders?
 
most bj players do Not apply perfect basic strategy to their play. any skilled player will apply perfect strategy with card counting possibly in addition to the other aspects of the game to put the odds in their favor. why not use the tools available that can only help . no guarantee anyway. most people probably live life by the seat of their pants no matter what they do . big difference between the recreational gambler & any serious player. you have to be prepared to do battle. to each his own.
 
This is true, but I don't gamble often enough to be bothered to learn how the skill. I've only gone 2 consecutive days in the past few years to play black jack.

I don't do it simply because it is gambling. It is sad that I never really got in to it for the fact that society deems it an improper way to make money. a lot of the strategies used in trading cross over to gambling.

Trading actually has better odds, but predicting the outcome of gambling seems more easy to identify. No one's coming in with a million dollars and slapping it on the table.

Hats off to you for decoding yet another set of rules.

You may be interested in the bit coin thread. Its also a calculated gamble
 
Quote from Pekelo:



http://kiddynamitesworld.com/intuitive-probabilities-blackjack-and-loss-rebates/

It has 91 comments and the first one is from one of the original MIT players featured in the book and movie. Summary:

"a casino can profitably offer a 20% session rebate on blackjack, provided they require the players to play a certain number of hands. KD's post establishes the number of hands required. It's an interesting point that the number of hands per session required is surprisingly low, and the only mathematical question worth debating is whether KD has calculated the number of hands correctly."

"Interestingly, after only 20 hands, the gambler has lost the expected value edge that came from his 20% loss rebate."
More...

This is incorrect. I've posted on that website to show why his analysis is wrong, but i will repeat it here:

This is all incorrect since you have forgotten about the impact of blackjacks which have a payoff of 1.5x the initial wager and also the impact of doubling and splitting. My simulations show that the positive ev doesn't disappear till maybe around 450 hands or so.

Also, you have forgotten about pushes!! The actual percentage of winning hands is about 42%, 51% of the time you lose and 7% are pushes. So if you play 100 hands, you expect 42 wins, 51 losses, and 7 pushes. You simple analysis would show 51 losses and 49 wins.
 
Following basic strategy is boring, much like good trading is boring. most people look for excitment from black jack and from trading.

I usually keep a basic strategy card in my pocket. one can also ask the dealer what is the correct basic strategy play, most are glad to be of help.
 
your right blackjack is usually dull even if your winning. craps is the game to play for some fast paced action. one can always have a few drinks to improve the atmosphere. if your winning all is good. i prefer to trade rather then gamble but craps is a good game to play for some fun.
 
Quote from Visaria:

This is incorrect. I've posted on that website to show why his analysis is wrong,
More...

I take the word of the MIT player who was part of the original "21" team, over yours if you don't mind. He said there are a few variables, so it could be more than 20 hands, but the Kid's basic approach and calculation is correct...
Let's say it is 50 hands. The casino can easily make you play a minimum of 50 hands before they let you use the rebate....

Anyhow, the bottomline is, the advantage of the 20% rebate is MUCH LESS than what people think first. And after a certain, relative low number (the casino will make sure you play at least that many hands) that advantage DISAPPEARS.

If it is too good to be true.....
 
rebates are for players that bet a large sum of money to my knowledge. the average gambler does not qualify for these rebates. no edge. you loss your money..
 
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