Now lets see if you know what hands to play in no-limit Texas Hold’em. Phil Gordon gives you the quiz every serious poker player should ace. Learn more: read Phil’s poker articles, buy his Final Table Poker DVD, listen to his WSOP podcasts and even ask him a poker question at www.ExpertInsight.com Also available Beating Blackjack with Andy Bloch -The former MIT Team Manager gives you the secrets of card counting and more. Short Game Golf with Jim Furyk & Fred Funk -The #2 Golfer in the World teaches you how to master the short game.
American Casino Guide author, Steve Bourie, interviews Michael Shackleford, also known as the “Wizard of Odds.” They talk about how slot machines work and how to win on them. americancasinoguide.com
Run-of-the-mill play of What’s My Line, with someone who is an expert at blackjack and authored a couple of books. Soupy shows his comedic powers during the conference.
Hey all, I am trying to create a project which involves extensive amounts of statistics. The project is in relation to blackjack at poker and the odds of winning.
Here is the situation:
I want to create a new blackjack betting pattern that will allow the player to almost be monetarily successful 100% of the time at every casino outing. The method is to bet a certain sum of money and everytime you win put the profit aside, while every time you lose bet double in the following bet. For example if my set bet was 15, I bet 15 on the first hand and win. I set 15 aside and put the bet of 15 back in my original sum of money. If I lose, I would then bet 30 on the next bet. If I lose again I would then bet 60, then 120, then 240, and so on if I keep losing. This betting pattern would make it so after every win I would have a payout of $15 more than I started with. After I win the hand, I would always go back down to the $15 bet and do it again.
Here is some statistics that I have already solved that would aid in this problem:
Overall chance of winning a black jack hand: 47.05% (Average player, obviously if the player was more advanced, it would be higher.)
Chance of winning at least once in the following hands:
1 hand- 47.05%
2 hands- 71.96%
3 hands- 85.15%
4 hands-92.14%
5 hands-95.84%
6 hands- 97.8%
7 hands-98.83%
8 hands-99.38%
9 hands-99.67%
10 hands-99.83%
As shown above, evidence from the probabilities show that this betting pattern seems like it would be successful, if you believe otherwise please explain.
Now, this is where I need the help. I am a freshman in college and absolutely don’t have enough knowledge in statistics to solve this. What I want to create is a formula that tells how much money a person should have, based on the betting pattern above (doubling it every time you lose), a starting sum of money (ex. $1000), a base bet price (in this case $15), and a certain number of bets (ex. 100).
Basically, I’m trying to create a formula where you can plug in:
*The starting sum of money (money you originally bring to the table)*
*Base bet amount (how much you will start the betting at)*
*Amount of bets (how many times in total you will bet)*
To find an amount, based on the probabilities above and the betting patterns, that would be how much a person will have after a certain number of hands, by using a certain base bet, having a certain starting sum of money, and following the betting patterns above.
I don’t even know i this is possible, (it seems so) but I know it’s a real complex problem with a lot of steps. Any and all help is greatly appreciated. THANKS
Run-of-the-mill play of What’s My Line, with someone who is an expert at blackjack and authored a couple of books. Soupy shows his comedic powers during the conference.
Run-of-the-mill play of What’s My Line, with someone who is an expert at blackjack and authored a couple of books. Soupy shows his comedic powers during the conference.
Run-of-the-mill play of What’s My Line, with someone who is an expert at blackjack and authored a couple of books. Soupy shows his comedic powers during the conference.
Blackjack is a game which can be played from 1 to 8 ordinary decks of cards. Cards ranking 2 through 10 are scored with their face value. All face cards are worth exactly 10 points each. The Aces are semi-wild cards which are worth either 1 or 11 points. An Ace with any 10-point card is considered the highest hand in Blackjack. Paid odds are 3:2 for a winning Blackjack. If the player and the dealer both has a Blackjack, the bet is then considered a push. Besides a blackjack, a winning hand would be paid even more. Therefore, a 21-point hand is the highest and that is why the game is also known as 21. If either the dealer or the player has a hand over 21, it is called a bust or break and the busted party loses the game. If both the player and the dealer go bust, the player loses because of house advantage. If the dealer and the player both tie, the bet is then considered a push.
Each round of Blackjack begins with players who place a bet in the circle or logo that is directly in front of them. The dealer then gives out 2 cards to each player including him/herself. All players’ cards are usually dealt with the cards face up. One of the dealer’s cards would be dealt face up (which is known as the up card) while the other is dealt face down (which is known as the hole card). If the dealer’s up card is a ten or an ace, it is possible that he might have a blackjack; in this case all players lose except those who have another blackjack. In the U.S, the dealer will immediately check his card for a blackjack, and if he does have one, he will collect all the losing bets and give those with another blackjack a push in their bets.
In an event that a dealer has an ace as an up card, he/she will most probably let the players to decide whether they would like to insure their hand of cards against a blackjack. This is like an insurance policy where you can choose to bet that something bad might happen. This insurance policy will reduce the odds if the dealer has a blackjack to 2:1. If the dealer has an ace as an up card and the player has a blackjack, the dealer might ask the player for “even money”. Why? Because if the dealer and the player both has a blackjack, and the player agrees for an even money, the bet will result in an even money win no matter the dealer has a blackjack or not. After all the players have decided to accept or decline the dealer’s offer, the dealer will then proceed to check his hole card.
After the dealer has checked his card and shows that he does not have a blackjack, the players then proceed to play their hands. But if the dealer has a blackjack, the game ends and a new round will begin after the dealer has collected all the losses.
This is the sixth article in the Lotto Lies series. The lottery is a very popular game played by people all over the world. It’s fun, exciting and easy to play and, if played responsibly, it’s inexpensive and not going to cause financial harm to anyone playing. So, when someone asks me for my Best Lottery Advice, I tell them to play the lottery for fun and entertainment.
Playing the lottery is a personal choice and I have no problem with anyone that chooses not to play. However, I’m amused by the reasons that some people give for not playing. That’s why I’ve included Lotto Lie #6 in the series. Lotto Lie #6 is the lie people give themselves.
Lotto Lie #6 – I don’t play the lottery because that’s gambling.
Oooh PLeeease!
Now, if someone doesn’t gamble because of some deep, heartfelt religious belief, I’m fine with that and even respect their decision. But, many times I sense that such statements are made by people who believe that they are somehow superior and are staking out a claim to some moral high ground. The fact is they are so out of touch with reality, they don’t even realize they are lying to themselves.
A Morally Superior Checklist
Here’s a partial checklist you can use to help distinguish the self proclaimed moralist from an actual true believer.
#1: Do they have an IRA or participate in a retirement investment plan through their employer? Here they are taking a large portion of their income and choosing which Mutual Fund to place it in. Many people can’t even tell you what Mutual Fund their money is in. If they can, they have probably never seen the prospectus. Their hope is, as it is with most of us, that the Mutual Fund will do well, but there is no guarantee.
#2: Do they invest in any stocks or bonds? Many people take their discretionary income and buy stocks and bonds as a hedge against inflation. Some do it because they fancy themselves as the next Warren Buffet and are going to make a killing on Wall Street. Regardless of their motivation or delusions, there is no guarantee.
#3: Do they buy Gold or other precious metals as a hedge against inflation? Doing so is a highly recommended strategy and, if they have the resources, they should do so. But, as is the case with all things, the prices go up and the prices come down. There is no guarantee.
#4: Do they have Insurance? Now, let’s see. There is Life Insurance, Health Insurance, Disability Insurance, Home Owner’s Insurance, Fire Insurance, Flood Insurance, Earthquake Insurance, Subsidence Insurance, Car Insurance, Renter’s Insurance, Boat Owner’s Insurance, Business Insurance, etc. In fact, you can find a short list on Wikipedia of 76 different kinds of Insurance. Insurance is a bit different, though. With Insurance you’re spending money for something you hope will not happen. But, there is no guarantee it won’t.
#5: Are they buying a home or investment property? Anyone who has ever done this was hoping that the property value would go up; not down. Given the resent housing crisis, how many people’s gamble paid off? Prices go up and prices come down. There is no guarantee.
Gambling Means No Guarantee
Insurance Actuaries can tell you what the odds are that you will have an accident on your way to work if you live in Slippery Rock, Arkansas. Therefore, you must be gambling every time you go to work. You are gambling when you go to the super market. Is the meat tainted? We live in a world that is filled with risk and, whenever you take a risk you are gambling. Whenever you spend money without a guarantee, you are gambling.
For those that have so deluded themselves into believing that they have staked out the moral high ground because they don’t gamble, please, do the rest of us a favor. Get in your insured car, drive back to your insured home, see how your IRA is doing, check out the status of your stock portfolio and pat yourself on the back for having the moral strength not to play the lottery. But, spare us the lecture. Spare us the moral platitudes.
So, if you are playing the lottery, the Best Lottery Advice I can give anyone is to have fun, enjoy the game and use the Best Lottery Software on the market.
Look for the seventh article in the Lotto Lies series; “Best Lottery Software – Using software is cheating.”
Professor Dolph is a world-famous lottery expert, lecturer and columnist. For more information about this article or anything lotto visit his website at Best Lottery Software or Winning the Lottery.
How to Play Basic Blackjack : Insurance Bet in a Game of Blackjack
