superbri
superbri
Joined: Apr 27, 2011
  • Threads: 6
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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
DogHand
Joined: Sep 24, 2011
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Thanks for this post from:
superbri
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

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    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
    ChumpChange
    Joined: Jun 15, 2018
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    superbri
    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
    FlynnCurmi
    Joined: Oct 18, 2021
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    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

  • link to original post



    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
    link to original post



    Yes, you are absolutely right, I would not say better. Blackjack is my favorite game that brings me a lot of pleasure, although everyone says that you can't win in the casino, but according to my calculations, I am in the big plus, I am very good at this game, and I only play with small deposits, usually 1 euro.

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