gravity89
gravity89
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May 12th, 2013 at 3:42:31 AM permalink
If a book offers half a percent cash back ($0.005 or half a penny) per dollar bet, does this make the standard blackjack table +EV using basic strategy?
MangoJ
MangoJ
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May 12th, 2013 at 4:14:49 AM permalink
Quote: gravity89

If a book offers half a percent cash back ($0.005 or half a penny) per dollar bet, does this make the standard blackjack table +EV using basic strategy?



If the games EV is better than -0.5% return, then this will be +EV after cash back (Unless they decide to simply not honour it).
gravity89
gravity89
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May 13th, 2013 at 10:26:31 PM permalink
I thought so. Interesting.
gravity89
gravity89
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May 15th, 2013 at 1:17:54 AM permalink
Let's say the house edge on the game is 0.3% and the cash back program offers $0.005 or half a penny per dollar bet. This moves the edge in the player's favor to -0.2%, correct? So, Let's assume:

$10 per bet yields average of $0.02 (2 cents) return (That's 10 x 0.002%)
250 bets per hour = $5 per hour (0.02 x 250)

Someone please help me with the math on this, because it seems I'm missing something with the fractions/percentages/decimals here. Thank you :)
socks
socks
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May 15th, 2013 at 5:17:52 AM permalink
This is cash back on loses?
boymimbo
boymimbo
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May 15th, 2013 at 6:03:11 AM permalink
You would subtract .5% from all published HAs. The standard blackjack table ranges from .2 to .7% so it may make it +Ev depending on the rules of the game.
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gravity89
gravity89
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May 15th, 2013 at 7:28:34 AM permalink
This is a cash-back loyalty program based on number of dollars bet, not on losses. I'm wanting to make sure my math is correct tho, seems too high to me for some reason. Can someone better at these types of calculations confirm what I posted above?
MangoJ
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May 15th, 2013 at 9:12:34 AM permalink
Quote: gravity89

This is a cash-back loyalty program based on number of dollars bet, not on losses. I'm wanting to make sure my math is correct tho, seems too high to me for some reason. Can someone better at these types of calculations confirm what I posted above?



The math is okay. The other question is, will they honor the cash back when they see you spend it only on 0.3%HE games.
redsfan
redsfan
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May 21st, 2013 at 11:43:44 PM permalink
I'll be sure to place plenty of other bets as well
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