Hoping someone can help.
The casino I play at has been using a promotional scheme to generate interest in Blackjack.
Any bets $5 and under require you to pay an additional 0.25c. They only take the additional 0.25c when the bet loses. Also the bet will pay even money if a Blackjack comes up.
Now I also have a good friend who works at the same casino and he was thinking of running the promotion with a slight variation.
Any bets $5 and under require you to pay a 0.25c commisiion regardless if it wins or loses. Also Black will still pay 3-2.
How does he work out which one has better odds for the house?
Needless to say regular BJ is still the was to go.
Any help would be appreciated.
how do either of those fit into the definition of a "promotion"? "Scheme", yes. "Promotion", no.
WTF? So the casino wining your money isn't enough, they have to take an additional quarter after you lose.
Time to move on to another casino. This casino apparently thinks the house edge isn't enough. Babies.
Considering the fact that natural blackjacks appear on average once every 20 hands dealt, i will do some very rudimentary (and probably wrong) math.
at the $5 bet level, the player can expect to win an extra $2.50 once every 20 hands of play, but will lose $.25 on every hand guaranteed, for an Expected Value of -$2.50 not counting the EV of the blackjack game itself.
At the $5 bet level with the player forfeiting $.25 for a loss but only receiving even money for the blackjack, over that same 20 hand period, we will assume that the player uses proper basic strategy and wins and loses an equal number of hands, leaving an expected value again of $-2.50 again not counting the EV of the game itself.
The second game may experience wilder swings but wins are not penalized with a 5% commission. I believe the two are comparable at the $5 bet level, but as the bet size increases, your second example and the first one I posted here becomes better as the $.25 becomes a diminishing % of the total bet. Obviously the lower the bet size, the higher the house edge and with a 3:2 game at the $1 level with $.25 forfeited per hand, you have better odds playing the penny slots.
My take, avoid both of these and just play a 3:2 game.
god i like to know what the rules are without the "promotion". LOL