superbri
Joined: Apr 27, 2011
• Posts: 21
September 10th, 2021 at 6:47:05 PM permalink
Hi, I went to the Blackjack gambling session calculator and used House Edge 0.0048 / 72 hands per hour @ \$25 a hand for 4 hours with 1 for Standard Deviation. The results came out as 99% chance to win this much or less (negative = loss): \$952.43 , 95% chance to win this much or less (negative = loss):\$663.29, 75% chance to win this much or less (negative = loss): \$251.6.
1% chance to win this much or less (negative = loss): -\$1021.55 I am sure I must be interpreting this wrongly .... Casinos are not in the business of giving out money !!! I am reading this as 99 customers out of 100 win \$952.43 and 1 loses \$1,21.55
DogHand
Joined: Sep 24, 2011
• Posts: 630
Thanks for this post from:
September 10th, 2021 at 7:20:50 PM permalink
Quote: superbri

Hi, I went to the Blackjack gambling session calculator and used House Edge 0.0048 / 72 hands per hour @ \$25 a hand for 4 hours with 1 for Standard Deviation. The results came out as 99% chance to win this much or less (negative = loss): \$952.43 , 95% chance to win this much or less (negative = loss):\$663.29, 75% chance to win this much or less (negative = loss): \$251.6.
1% chance to win this much or less (negative = loss): -\$1021.55 I am sure I must be interpreting this wrongly .... Casinos are not in the business of giving out money !!! I am reading this as 99 customers out of 100 win \$952.43 and 1 loses \$1,21.55

superbri,

You are reading this wrong. If you have a 99% chance to win \$952.43 or less, then you have a 1% chance to win more than \$952.43. The other 99% of the time, your result will be less than +\$952.43: so it might be +\$800, or +\$25, or -\$123, or -\$1,200: all of these results are less than a win of \$952.43.

Hope this helps!

Dog Hand
ChumpChange
Joined: Jun 15, 2018
• Posts: 3199
Thanks for this post from:
September 10th, 2021 at 7:39:02 PM permalink
The 50% line is -\$34.56. Your chance of winning x% is reduced by \$34.56 while your chance of losing x% is increased by \$34.56. The difference in the absolute values of both dollar amounts equals 2X \$34.56.

You have a 50% chance of winning more than -\$34.56, and a 50% chance of winning less than -\$34.56.
99% of numbers at or below \$952.43 are possible, 1% will exceed it.

I believe the SD was set at 1.15 for a reason for blackjack. If I play 2,000 hands, I can expect to lose \$240 in HA, but because the SD is 1.15, the other numbers skew wider than at the SD of 1.00.
Last edited by: ChumpChange on Sep 10, 2021
FlynnCurmi
Joined: Oct 18, 2021
• Posts: 3
October 18th, 2021 at 7:08:15 AM permalink
Quote: DogHand

Quote: superbri

Hi, I went to the Blackjack gambling session calculator and used House Edge 0.0048 / 72 hands per hour @ \$25 a hand for 4 hours with 1 for Standard Deviation. The results came out as 99% chance to win this much or less (negative = loss): \$952.43 , 95% chance to win this much or less (negative = loss):\$663.29, 75% chance to win this much or less (negative = loss): \$251.6.
1% chance to win this much or less (negative = loss): -\$1021.55 I am sure I must be interpreting this wrongly .... Casinos are not in the business of giving out money !!! I am reading this as 99 customers out of 100 win \$952.43 and 1 loses \$1,21.55

superbri,

You are reading this wrong. If you have a 99% chance to win \$952.43 or less, then you have a 1% chance to win more than \$952.43. The other 99% of the time, your result will be less than +\$952.43: so it might be +\$800, or +\$25, or -\$123, or -\$1,200: all of these results are less than a win of \$952.43.

Hope this helps!

Dog Hand