5:3 blackjack
Hi. My name is Frank. I'm from canada and i was in a casino yesterday and found a table that make a 5:3 payout. Long story short: the casino smallest chip is 2.50; so if i bet 7.50 and get a blackjack they can't give me 11.25; so they give me 12.50. that's 5:3 payout; or 1.666666X my money. If i keep my game like that; does it give me a edge over the casino over time or i'm just some kind of retarded? Thanks!
Assume you play 80 hands/hr and a .5% starting house edge. $7.50 * -.005 * 80 = ($3)/hr. You should get approx 4 blackjacks in those 80 hands for a bonus of 4 * 1.25 = $5 for a total EV of $2/hr. Bet $7.50/hand and yes its +EV. The dealers might get annoyed with you though.Originally Posted by hurleyfrank
Hi! First; thanks for all your answer. To answer your question: It's 5:3 Payout for every blackjack on 7.50; normally it's supposed to be 1.5X or 3:2.( it's a 24h ''charity'' casino).
Since i wasn't in that place forever; i didn't check every rule but i found on their website SOME info on what i allowed and what isn't: http://www.olg.ca/assets/documents/gaming/blackjack.pdf
And the minimum bet on that table in 5$; that's why i didnt play 2.50
Note that i'm not very good a blackjack; i'm a begginer. But that ''hole'' in the game is pretty interesting; at least to play with the edge on my side! (if it's even possible)
Thanks!
Seriousplayer, they have no $1 chips so if you play 3 pink chips ($7.50 total), their smallest denomination chip, you get paid 5 pink chips on a blackjack instead of 4.5 chips. So if you want to play a flat bet of $7.50 the entire time you are playing a 5:3 blackjack game. If you get 100 hands/hour which is not likely you will bet $75/hour. You might have a fraction of a percent edge so your expectation is less than $1/hour. Makes you want to quit your day job doesn't it.
In most jurisdictions it is against the law to underpay a payoff. If the law says the bet must be paid at 3:2 odds they can't decide to underpay you without being in violation and subject to obscene fines per incident. Learn the regs that govern the game you are playing and make sure they don't violate them. Most of the time they realize what is at stake and that you know what is going on and the table games manager makes sure you don't get underpaid. I have had a couple casinos refuse to bend and they both got 6 figure fines for chasing pennies.
Last edited by Three; 04-01-2014 at 10:11 PM.
Some casinos overpay, some underpay, depending on their regulations.
Getting paid 5:3 on BJ is (if my math is correct), worth an extra 1/6 of the payout. Normal BJ pays 9:6 while your store pays 10:6 (using 6 as the most common denominator or w/e it's called).
I forget what the frequency of hitting a BJ is, but let's just say (for this explanation) a BJ occurs 1 in 20 hands, which would mean you win an extra 1/6 of your bet every 20 hands (I'm not taking into consideration the situation where you and the dealer both get a BJ at the same time). This means you are winning 1/120 of a unit, per round, minus the house edge. With a $10 bet, that's $0.0833 per round. If the normal house edge is 0.5%, you are (normally) losing $0.05 per round. $0.0833 - $0.05 = +$0.0333/round, or a 0.3% PE. With a $7.50 bet unit, your EV is going to be $0.025 per round (roughly $2.50 per hour with 100 hands per hour). That's with the assumption a BJ occurs 1/20 (it's actually higher), that the house edge is 0.5% (probably higher), and without taking into consideration the times both you and the dealer have a BJ on the same round....all which will decrease your EV. On the other hand, if the casino allows surrender (and it's paid 5:7.50), that will greatly increase your edge in the game, since you'll be surrendering a lot of hands that are -EV.
Then again, my math and/or thinking could definitely be off, here. =\
"Everyone wants to be rich, but nobody wants to work for it." -Ryan Howard [The Office]
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