Tuesday, August 31, 2010

51st Percentile

Who would have thought blackjack could be so educating. Over the last week I've been learning to play blackjack and some elementary card counting systems. Under normal circumstances you are no more than 50 basis points away from winning 50% of your hands playing standard casino blackjack. If you employ some kind of tracking you can usually get up 2-3% at least every 1 in 10 hands. I make minor errors so I conservatively put myself at an overall advantage of 51%.

What has amazed me in my short amount of play testing is how much of an advantage that is. Betting heavily when the odds are only slightly in your favour Actually can be a lucrative venture. I was always sceptical that to experience large gains one had to trade or bet on high probability events. That is not necessarily the case.

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