Insurance: Take even money on a 6:5 table?
March 5th, 2012 at 2:29:34 PM
permalink
Yesterday, in the Wiz' thread about his latest videos, I made the following comment:
I was thinking about this today, and am wondering if the math really supports the statement I made. I'm having something of a brain fart trying to figure it out.
Of course, the Wiz is right that you should never sit at a 6:5 table, and at a 3:2 table you should never take insurance. By extension, if you have a BJ with the dealer showing an ace, never take even money of offered.
Assume you decide to pay the party pit tax and sit at a 6:5 table, and you get a blackjack when the dealer shows an ace.
The math does not support the dealer offering even money for the BJ. But does the math suggest taking even money if the dealer offers it?
Quote: DJTeddyBearInsurance: Never take even money? Here's the ONE time you should: If you're at a 6:5 table, and the dealer mistakenly offers even money, take it. Admittedly, it should never happen, but mentioning it could have opened the door to discussions about dealer mistakes.
I was thinking about this today, and am wondering if the math really supports the statement I made. I'm having something of a brain fart trying to figure it out.
Of course, the Wiz is right that you should never sit at a 6:5 table, and at a 3:2 table you should never take insurance. By extension, if you have a BJ with the dealer showing an ace, never take even money of offered.
Assume you decide to pay the party pit tax and sit at a 6:5 table, and you get a blackjack when the dealer shows an ace.
The math does not support the dealer offering even money for the BJ. But does the math suggest taking even money if the dealer offers it?
I invented a few casino games. Info:
http://www.DaveMillerGaming.com/ —————————————————————————————————————
Superstitions are silly, childish, irrational rituals, born out of fear of the unknown. But how much does it cost to knock on wood? 😁
March 5th, 2012 at 3:06:32 PM
permalink
Of course.
1 > 9/13 * 6/5
1 > 9/13 * 6/5
"When two people always agree one of them is unnecessary"
March 5th, 2012 at 4:18:02 PM
permalink
If I were at a 6:5 table where "No Even-money" is posted, and the dealer asks, "Do you want even money?" I'd say, "You can't offer even money on a 6:5 game. Pay attention."
Beware of all enterprises that require new clothes - Henry David Thoreau. Like Dealers' uniforms - Dan.
March 5th, 2012 at 4:20:20 PM
permalink
Quote: PaigowdanIf I were at a 6:5 table where "No Even-money" is posted, and the dealer asks, "Do you want even money?" I'd say, "You can't offer even money on a 6:5 game. Pay attention."
Dan, you pride yourself in your high moral standing. We all get it. But most of us are going to answer when opportunity knocks at our door...
March 5th, 2012 at 5:06:06 PM
permalink
Quote: PaigowdanIf I were at a 6:5 table where "No Even-money" is posted, and the dealer asks, "Do you want even money?" I'd say, "You can't offer even money on a 6:5 game. Pay attention."
What if it was not posted?
"When two people always agree one of them is unnecessary"
March 5th, 2012 at 5:47:18 PM
permalink
Quote: TriplellDan, you pride yourself in your high moral standing. We all get it. But most of us are going to answer when opportunity knocks at our door...
It isn't all that high, - I will admit.
But casino workers and casinao regulars gotta have some minimum standards....taking money we KNOW isn't honestly "correct" is one item. If the floorman or surveillance crew catches it, AND they do know you, they'll say, "C'mon, Jim/Dave/Frank/etc. - you know better!..."
I never charge my personal income tax accountancy bill to my business expenses....a lot of business owners do.....I could, but don't....
Beware of all enterprises that require new clothes - Henry David Thoreau. Like Dealers' uniforms - Dan.
March 5th, 2012 at 5:49:08 PM
permalink
I can't get past the "If I were at a 6:5 table" part.
Why would anyone be at a 6:5 table?
Why would anyone be at a 6:5 table?
"I don't have a gambling problem. I have a financial problem."
March 5th, 2012 at 5:51:38 PM
permalink
Sometimes it's either that or the highway....
Beware of all enterprises that require new clothes - Henry David Thoreau. Like Dealers' uniforms - Dan.
March 5th, 2012 at 6:01:01 PM
permalink
For what it's worth, I meant to include a comment that we all know the morally correct answer, but I was really interested in the math, since, as I stated, I was having a brain fart regarding the math.
I invented a few casino games. Info:
http://www.DaveMillerGaming.com/ —————————————————————————————————————
Superstitions are silly, childish, irrational rituals, born out of fear of the unknown. But how much does it cost to knock on wood? 😁
March 5th, 2012 at 6:06:42 PM
permalink
Quote: DanMahownyI can't get past the "If I were at a 6:5 table" part.
Why would anyone be at a 6:5 table?
Either too much to drink, a hot looking babe at the table, or both. LOL
March 5th, 2012 at 6:28:36 PM
permalink
Party pit. Scenery.Quote: DanMahownyWhy would anyone be at a 6:5 table?
I invented a few casino games. Info:
http://www.DaveMillerGaming.com/ —————————————————————————————————————
Superstitions are silly, childish, irrational rituals, born out of fear of the unknown. But how much does it cost to knock on wood? 😁
March 5th, 2012 at 6:53:00 PM
permalink
I would have zero issues taking even money on a 6/5 game. It is not up to the player to know that they do not offer even money on a game. The casinos introduced a game where most of their customers don't understand why it is 6/5. Most of these people also don't have a clue why insurance is offered or why even money is offered.
I'm not going to ask for even money, but if it happens to be offered, I'm taking it. How am I supposed to know that isn't a rule at that particular casino? Even if they give me even money, the game is still a losing game for me. Why couldn't a casino come along and offer even money for BJ against a dealer Ace? Seems like a reasonable marketing plan just like the few casinos that offer 7/5 payouts over the 6/5.
I'm not going to ask for even money, but if it happens to be offered, I'm taking it. How am I supposed to know that isn't a rule at that particular casino? Even if they give me even money, the game is still a losing game for me. Why couldn't a casino come along and offer even money for BJ against a dealer Ace? Seems like a reasonable marketing plan just like the few casinos that offer 7/5 payouts over the 6/5.
March 6th, 2012 at 2:27:49 AM
permalink
Just some numbers:
Even money is effectively 13:9 payment on that particular blackjack, or 1.444. Taking even money when offered makes blackjack pay 19.(4):13 or 1.4957 instead of 1.5000 (for an infinite deck). In a 6:5 game, taking even money makes blackjack pay 1.2188 instead of 1.2000.
The effect on house edge is about 1/22-1/21 of that. Specifically, the HA of a 6:5 game changes by 0.089%, from ~1.83% down to ~1.74%. In a single-deck game the effect is smaller in absolute terms.
Even money is effectively 13:9 payment on that particular blackjack, or 1.444. Taking even money when offered makes blackjack pay 19.(4):13 or 1.4957 instead of 1.5000 (for an infinite deck). In a 6:5 game, taking even money makes blackjack pay 1.2188 instead of 1.2000.
The effect on house edge is about 1/22-1/21 of that. Specifically, the HA of a 6:5 game changes by 0.089%, from ~1.83% down to ~1.74%. In a single-deck game the effect is smaller in absolute terms.
Resist ANFO Boston PRISM Stormfront IRA Freedom CIA Obama
March 6th, 2012 at 3:26:59 AM
permalink
Quote: PaigowdanSometimes it's either that or the highway....
The highway.
Every time.
In a bet, there is a fool and a thief.
- Proverb.
March 7th, 2012 at 4:30:38 PM
permalink
Always take "Even Money" if offered. I first came across it at Blackjack Switch - a variant which pays even money on Blackjacks - and was offered "Even Money". Not much thought required, so a quiet "Yes".
