We left our Player A and Player B
It is not uncommon to see players using a progressive betting strategy when at the blackjack tables. They seem content with their system but I am not sure they are aware that a progressive betting system just does not pay off in the long run in blackjack. And how you bet is a big part of your blackjack strategy since your aim in blackjack is to make money.
Like usual let
Yesterday I began talking about reducing your losses per hour in blackjack. While it is possible to reduce your losses per hour in online blackjack by slowing down your rate of play, some of the other ways of reducing losses are limited to playing blackjack in a brick and mortar casino.
One of those ways was discussed yesterday: making bets on another player
When it comes to odds in casino games, many are actually quite accurate, or true. I know, surprising considering how the casino like to take money. However, at least in most games the odds are true. One of the exceptions though is an insurance bet in blackjack.
First off, what are true odds?
True odds are quite simple. Odds are true when they are even with the payout. Meaning the payout has to be the same as the odds of landing that payout. Take roulette for example. In a game of roulette there are thirty six numbers. If you were to make a wager on one of those numbers and won that round you would receive a 36-1 payout. And that matches the odds of landing one number, which is naturally thirty six to one.
One of the fun things about playing blackjack in a brick and mortar casino is the free drinks. You will see waitresses going from table to table bringing drinks to players.
Insurance has an alias, did you know that?
I am willing to bet that you are a smart blackjack player, be you an online blackjack player or one who plays in a brick and mortar casino. You most likely know what the alias of Insurance is.
Well this deceptive little choice that gives edge to the house also goes by the name of Even Money. And you will only be offered a shot at even money when you have been dealt a natural blackjack and the dealer has an Ace showing.
And that is exactly how the dealer will put it to you, making even money sound like something special that you have earned for being dealt a blackjack.
The truth of the matter is that even money does not earn you anything since you are actually giving part of your odds over to the house if you accept.
You know you are offered insurance when the dealer has an Ace showing, but with a natural blackjack you really do not need to insure it. So the casinos thought they would be smart and offer players the same thing with a different name. Hence even money.
Even money is when you receive a 1-1 payout. And that is exactly what you get if you accept even money. They want to scare you into taking a 1-1 payout so that there will be no risk to the house to pay you a 3-2 payout should the dealer not have a natural blackjack.
And that is the trouble with even money
While basic strategy offers players a wonderful, easy and legal way to lower the house edge it only takes you so far. As far as 0.5% still being in the house
Do you know what the best play in blackjack to make when you have a hard 15 or hard 16 versus a dealer