If you put your promo chips down for a double down you may be told you have to use normal chips. Maybe someone else can explain better.
This is a tricky scenario that is independent from casino to casino... or hell even from dealer to dealer.
At the same casino I've been allowed to double with free/match plays or promo chips, and been told I have to use real chips.
However the next dealer didn't care... Then the next dealer let me surrender and handed me back my free play entirely! Late surrender for 100% huh? Cool! The next dealer after that said I had to surrender the coupon if I wanted to surrender (thus you wouldn't want to surrender).
So it REALLY depends on the casino and the employees on what you can get away with... but one thing is certain: you should ask! Ask the BJ dealer "Hey, if I play this do I still get 3/2 on my blackjack?" and "Hey, if I play this and have to double or split, can I use more promo-chips or my free play?" Cuz if you get an 11v5 why wouldn't you want to get your coupon a 61% advantage? Finally if they have surrender I'd also ask what happens to promo chips and coupons when you surrender. These answers will more than likely drive whether or not you're playing Blackjack or Baccarat.
OP - As far as your "percent advantage" goes, it really isn't that hard to figure out... How much negative EV do you expect? How much positive EV do you expect?Example
You can play blackjack with .5% HE with your $250 promo chips. Let's pretend you bet 25 hands of $10 (in promo chips) per hand.
EL(X hands) = (NumHands*AvgBet)*(HouseEdge)
EL(25 hands) = (25*10)*(-.005) = -$1.25
So for playing these 25 hands, you could expect to give up $1.25, but your reward would be two $20 coupons. From here you could count and play them with a positive expectation, play them only on doubles with an advantage (if you're allowed) etc. Let's be generic though and as others have stated say they're worth about half their value (~$10) so a total of $20.
EV(2 $20 FP's) = ~$20
Total Net EV = SUM(All other EV/EL) = EL(25 hands) + EV(2 $20 FP's) = -1.25 + 20 = 18.75
So normally if you were to play $250 action through you'd lose $1.25 (-.05%), but now with this "promotion" you're expecting to MAKE $18.75 (x% advantage). Solve for X? =P
You're putting $250 action through and expecting to make $18.75... soooo Action*HE = EV ===> 250x = 18.75... x = 7.5%
7.5% total edge on the total "play."
Last edited by: Romes on Feb 14, 2017
Playing it correctly means you've already won.