Jeff571966
Jeff571966
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February 26th, 2024 at 2:04:35 PM permalink
I saw where casinos have a win rate of around 15 percent on blackjack. How is that possible when the house advantage is less than 1 percent?
unJon
unJon
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DRich
February 26th, 2024 at 2:25:52 PM permalink
Quote: Jeff571966

I saw where casinos have a win rate of around 15 percent on blackjack. How is that possible when the house advantage is less than 1 percent?
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Maybe thatís the hold %. The % of buy ins that the casino ultimately keeps. So if you buy in for $1,000 the casino expects you to lose $150, for a hold % of 15%.
The race is not always to the swift, nor the battle to the strong; but that is the way to bet.
Jeff571966
Jeff571966
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DRich
February 26th, 2024 at 2:27:38 PM permalink
That would make more sense, so the average player loses 15 percent of his buy in before cashing out. Thanks.
terapined
terapined
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February 26th, 2024 at 5:42:52 PM permalink
Quote: Jeff571966

I saw where casinos have a win rate of around 15 percent on blackjack. How is that possible when the house advantage is less than 1 percent?
link to original post


Ploppys that don't know proper strategy.
Its just a forum. Nothing here to get obsessed about.
richodude
richodude
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February 26th, 2024 at 7:50:50 PM permalink
Quote: Jeff571966

I saw where casinos have a win rate of around 15 percent on blackjack. How is that possible when the house advantage is less than 1 percent?
link to original post



That is definitely the hold%. If a casino drops $100,000 in a month and the pit is missing $86,000 in chips, you can deduce that players collectively lost $14k and therefore a 14% hold.

It is true the house edge is near 0.5% but that is per hand. That is the same as saying you will lose 5 cents per hand on a $10 bet. If you play 300 hands, about a 4 hour session, you can expect to lose $15 which would be a 7.5% hold if you bought in for $200.

Of course you need to play perfect to reach those numbers. Most players' strategies make for around 2% house edge, which can raise the hold%
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