calculating house edge for card counters in BJ
Quote: mjds001I know the formula for calculating the house edge of a player who is betting the same amount each round, but I am unsure how to go about calculating the edge for a player who is betting a varying amount. Particularly for a player who is betting based on a counting system. Is this possible to calculate? If there is a method or formula for calculating please share.
This is usually done by simulation. A closed form solution would be very complicated.
Quote: IbeatyouracesYour advantage or disadvantage has to do with the make up of the remaining cards in the deck(s), not your bet.
I assume that he is looking for a weighted average.
Quote: mjds001I know the formula for calculating the house edge of a player who is betting the same amount each round, but I am unsure how to go about calculating the edge for a player who is betting a varying amount. Particularly for a player who is betting based on a counting system. Is this possible to calculate? If there is a method or formula for calculating please share.
What count are you using?
Quote: mjds001So when a simulation is used, what would the method be for finding the edge? Also, are there accepted values for the edges for different counting systems under certain playing conditions?
I think that the normal method for finding the edge is to run the simulation many times and see how much was actually won or lost. In other words, the edge is determined experimentally.
Certainly, the literature is full of the results of simulations. I don't know that there is one definitive source. Professional Blackjack is a good start if you are interested in seeing lots of numbers.
The % of time you are in various counts and edges are probably best obtained by simulation (as noted above), but you can estimate them too.
