This Is What Happens When You Get Caught Counting Cards Playing Blackjack

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Picture of Natan_el_Tigre52 achievements

+3 1. Natan_el_Tigre commented 7 years ago

Now to transform this allegory from Joe Citizen vs The Pit Boss to The People vs The Corporatocracy. 8-)
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+11 2. ughlah commented 7 years ago

The chance of the bank winning is 45.843%,
the chance of the player winning is 44.615%
the chance of a tie is 9.543%.

From each 100 Dollar you bet the bank earns 2,75. Usually the bank earns somewhere between 2-3,5 % on each bet at every game. Roulette is 2,77.

This video looks too good to be true. With card counting you can shift that chance to your favor, yes, but not by a landslide. You would have to play hundreds of hands to even double your initial investment. All that while being spotted is an pretty easy task. Don't even think about having one or multiple people count for you till the deck is hot. They will spot that too, easily.

In the end you cannot win at gambling. Even if you go out as a a winner once, that will drag you back to a casino elsewhere later and you will loose your winnings then.
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+11 3. s1nn0cence commented 7 years ago

#2 the only winning move is not to play.
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+5 4. kirkelicious commented 7 years ago

#2 The percentages do not tell the whole story. They only account for a single bet. The fact that the casino has a virtually unlimited budget and has limits on the maximum bet or buy in massively shifts the expected values to the side of the casino winning.
A player that goes bust loses all its money at once and has to start from zero again the next time, whereas the casino can keep playing forever and easily can compensate for temporary losses.
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+3 5. ughlah commented 7 years ago

The percentage state both, the expected outcome of one game as well as the long term winnings of the casino. You can beat the casino at one game, against all odds, you can even win the lottery and become a multi millionaire, but the longer you play, the more you align to the expected value.

What #4 says is true nonetheless. Unlimited budget allows to come out of a losing streak and align to the expected value again. It doesn't change the bank winnings by much though. Since very long streaks (both winning and losing) are pretty improbable they don't happen that often.
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+7 6. sux2bu commented 7 years ago

All those casinos in Las Vegas and around the world were built on losers, not winners. ;)
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+2 7. fjwjr commented 7 years ago

Number eighteen in 1988, Charlie Babbitt squeezed and pulled and hurt my neck in 1988.
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+2 8. Natan_el_Tigre commented 7 years ago

#7 Ha-ha-ha...took me a couple of minutes, but I found it: https://www.youtube.com/watch?v=r3qlYMf9rIo

And a little contextual bonus for the community: https://www.youtube.com/watch?v=RW1qHA5Hqwc
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0 9. chance commented 7 years ago

Thanks for posting this, THAT was awesome. Props to everyone involved.
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0 10. HaydenJaques commented 3 years ago

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0 11. Belptly commented 14 days ago

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