Blackjack card counting risk analysis: poor gains at huge risk · YourBasic

To win at blackjack by counting cards is hard, but possible. This is what it takes. yourbasic.org

It’s possible to win at blackjack by counting cards, but most fail. The mean is positive, but the variance is mean.

Cardsharps, Caravaggio c. 1594.

Always optimal strategy

Always use an optimal strategy adapted to the rules of your casino. Here is an example blackjack strategy. Every time you deviate from the optimal strategy – because of hunches or fear – it depletes your funds.

Count cards

If you find a casino with good rules, and if you play with an optimal strategy, the odds are still against you – but the house edge can sometimes be as low as 0.5%.

Card counting is simple. If there are many high cards in the deck, the odds are better for the player: then you should bet more and play with a more aggressive strategy. The proportion of high cards is estimated by starting to count after each shuffle.

The right casino

In addition to good basic rules, card counting requires that the casino uses few decks of cards, preferably one or two, and deals deep into the deck. Directly after shuffling, the proportion of high cards is always the same – too low. Furthermore, betting limits must be wide enough so that you can play aggressively when it pays off.

Few mistakes

Most card counting systems are simple but require a lot of practice and must often be adapted to local rules. You must be able to count without being noticed and with few mistakes. Practice at home first, it’s cheaper that way.

It’s difficult to manage a job with alcohol in your blood: the number of mistakes increases and it becomes harder to follow a strategy. Know yourself and know your error rate.

Big funds and plenty of time

Blackjack is a game with very large variance. You will meet both high peaks and long deep valleys. If your money runs out the game is over.

A long-term expected hourly income of a few hundred dollars typically requires $100,000 in funds. If your goal is $1000 per hour with reasonable risk, you need millions. It’s not uncommon to lose for an entire week, even with a strategy with an expected profit. Playing blackjack on your vacation is a bad idea.

Keep a low profile

You’ve done your homework: you know your system, know your limits, have found a place where you can work and have sufficient funds.

Now the cat-and-mouse game begins. If you only place big bets when deep into the deck, it’s discovered quickly; and if the casino doesn’t like your playing style, you’re not welcome back. Most likely, you will be forced to work in a team, where one person counts and the others enter the game when the odds are right.

You must get everything right

To win at blackjack, you must manage all the points above. If you miss one, you end up a loser.

Most casinos have closed the holes a long time ago. Many casinos even have slot machines with a statistical structure similar to blackjack: a “secret” and simple playing strategy with high bets gives a small expected profit.

The casino knows that few have the funds, discipline, and time required – and the ones that still manage, do it with low hourly wages in a dismal working environment with poor gains at huge risk.

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Las Vegas vs. Monte Carlo algorithmsA Las Vegas algorithm always gives the correct result, but gambles with computational resources; Monte Carlo simulations use repeated random sampling to obtain its results.yourbasic.org

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Card Counting - How Blackjack Works HowStuffWorks

PrevNEXT Card counting is really just an extension of the basic strategy. It doesn’t require a photographic memory or a degree in mathematics. Although the first card-counting systems were developed and published in statistical journals by mathematicians, the actual counting isn’t that hard. The hard part is keeping from getting thrown out of the casino. Counting cards is not cheating. The casinos tried to get laws passed that would make counting a crime, but the courts declared that counting is simply a skillful use of the information available to the player. Which means it’s okay to count, right? Advertisement Not so fast. Casinos are private property. They can throw you off their property for any reason at all, including playing a game so well that they start to lose money. And once you’ve been kicked out, returning can result in a trespassing charge. We’ll explain how to avoid getting caught in a minute, but first you need to learn how to count. The basic strategy is based on odds that take into account all the cards in the deck. There’s a slight flaw with that strategy, however: After a hand is played, the dealer puts the used cards in the discard tray, and deals the next hand with the remainder of that same deck. Approximately half to three-quarters of a deck might be used before the dealer reshuffles. That means that there are a lot of cards in the discard tray that a basic strategy is still accounting for. Card counting systems calculate the odds of a 10-value card being drawn based only on the cards still in the deck. One common card-counting system assigns a value to certain cards in the deck: Twos through Sixes are given a +1 value. Tens through Aces are given a -1 value Sevens, Eights, and Nines are valued at zero. As the player sees the cards being played (and subsequently discarded), he adds those values together. From a starting point of zero, this “running count” fluctuates between negative and positive values. If the first hand dealt from a deck has a Two (+1), a Nine (0), a King (-1), an Ace (-1), a Ten (-1), and a Jack (-1), the running count is -3. The higher the running count, the more low-value cards have gone into the discard tray. That means there is a higher percentage of high-value cards still in the deck. Why is that important? Recall how the basic strategy is based on the assumption that the next card will be a 10-value card. If you know that there is a greater percentage of 10-value cards in the deck than usual, that assumption – and therefore the overall basic strategy – becomes that much stronger. So how does card counting change the rules of the basic strategy? It doesn’t. What it does change is how much you bet. A typical “system” player (someone who uses a card-counting system) will bet the table minimum when the deck is fresh. When the running count hits a certain level, such as +4 or higher, the player then makes a much larger bet or doubles down aggressively. The higher the count, the bigger the bet. The system player uses these beneficial odds to make a big win or two while the deck is “hot.” If the count drops below zero or the deck is shuffled, he returns to the minimum bet. In the next section, we’ll explain how the casinos try to stop the counters and how the counters try to hide their advantage.

Card Counting 101

Learn the basics of card counting how to get started and why its important for casino staff to learn this.

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