Just recently I went to a casino in malaysia johor jaya. They offer this dead chip programme in which they will reimburse you 1% of your buy in while the chips provided will be non-negotiable. For example, if I buy in for 1000 dollars, they will pay me 1000 in non-negotiable chips and 10 dollars (1% of 1000) in cash. After you have completed wagering, (in other words losing all the non-neg chips while left with only the cash chips) you may choose to buy the non negotiable chips again while getting the 1% rebate.
There is a blackjack game there which uses a card shuffling machine with the following rules.
Stand soft 17
Double after split
Double only on 9,10 & 11
Able to respilt to 4 hands
Split aces get one card only
Player loses all bet against dealer's BJ
Blackjack pay 3:2
Dealer does not check for blackjack regardless of 10 or A
6 decks (maybe 5)
Shuffle after 1 deck has been accumulated in the discard pile
I understand from one of your articles that the best way to convert non-negotiable chips to cash chips is to play blackjack as the non-neg chips is able to retain 99.61% of its value (the highest among all the different games) according to a slightly different set of BJ rules.
My questions are
What is the house edge for the BJ using basic strategy with the following rules?
How much does the rebate scheme reduce the house edge for such a BJ game?
Thank you for any inputs and answers.
Sorry Wizard, one more question, with this rebate is the blackjack the best game to play?
Sorry guys, can any one help me with determining the value of a non-negotiable chip for such a blackjack game? Cause I tried to figure out myself but found out with splits, doubles and blackjack payouts, this causes things to get a little messy. How did the wizard come to a conclusion that 99.6% of the value of a non-negotiable chip is retained when playing blackjack of rules 6 deck, DAS, respilt aces, no surrender, bj pays 3 to 2?
From the answers that i have gotten from bj house edge calculators, the house edge for the original bj that I have stated should be 0.64%.
If someone could help me determine the value of the non-negotiable chip when playing with the said blackjack rules I would really appreciate it.
Sorry for another post
assuming the .64% is correct, youre expected to lose $6.40 for every $1000 you wager ($1000x.64%) but youre getting $10 for every $1000 so youre profiting $3.60 per thousand wagered ($10-$6.40).
Thanks for your reply. From my understanding, $1000 of wagering is not enough to convert all the non-neg chips to cash chips due to some wins and ties.
Hence, the house edge cannot be applied directly this way.