Playing BJ when broke

I did not know this was even a possibility, but here it goes.

Playing blackjack and I was just about broke. With my last $50 I made my wager and got two 7's vs a dealer 5.

I was told that I could split the 7's if I split my bet to $25 each. I never knew I could do that before, I just knew I could not "split for less."

My question would be did I increase/decrease/no effect my odds by splitting the 7's and making my original $50 wager 2 $25 dollar wagers where I have a 7 to start each hand.

Not that it mattered for me, but I had no more money to double a hand if the situation called for it, for what it is worth.

I am no statistician, but I would think the potential for 17’s or better vs a known 14 is an advantage, or did I just “hedge” a bet?

You must've increased your odds.

I assume you would've stood on the 14, so you were strictly wagering that the dealer would bust on a 5.

If you split, you have an opportunity to turn one or both hands into something 17-21. I again assume that you would not hit a hand that would potentially bust, so the worst you can do is again $50 bet that the dealer will bust. If either of your hands ends up in the 17-21 range, then your odds of winning have improved.

Yes, I wonder why they allowed you to do so as it is not within the standard game rules. They let you split for free, which should have required another $50. I wonder if you could do that every time, you might actually beat them in that game.

I checked from Wizard of Odds that being able to split was worth about +$12 to you in expected value, in practice slightly less since you still couldn't double down after split.

Clearly not standard rules.
Some casinos do indeed give a "Last Money break" policy to players in doing such things.

I was at Presque Isle in PA.

I did not ask if this was a "final hand" kind of deal, but I didnt think it was allowed at all.

For anyone who cares, I ended up with a 17 and 16 and the dealer caught a hand and I lost, so no more or less $ to the house.