Equity Question

[20 to 1 Spread]

Was wondering if I was thinking about this in the wrong way. Let's say at TC 10; the player edge over the house is around 5%. If you put out a thousand dollar bet, you're essentially making $50 in EV. But is that all the equity to it? When do I factor in blackjacks, double downs, splits into this $1000 bet in theoretical EV - or is that after the cards come out and the EV changes when these options present themselves.

[apkevy]

It means in the long run you can expect to make 5% profit. That includes BJs DDs and Splits.

E.V. is calculated as an average ( long run expectation ) profit/loss per hand BEFORE you can see any cards or make any decisions.
Of course, once the card are dealt the probability of you winning your hand shifts. Every hand has it's own expected return value.

[bigplayer]

5% is the edge based on your initial wager because you can't count on being able to split or double until it happens. You can only guarantee making your initial bet. The edge vs your total of all wagers (including splits and doubles) divided by number of rounds would be lower than 5%, the end result is still an EV of $50 bucks on average for that level of advantage over the long haul. Obviously if you bet $1000 at a 5% edge and get dealt an 11 vs 6 you're expected value is far more than $50 bucks.

[Bodarc]

E.V. is calculated as an average ( long run expectation ) profit/loss per hand BEFORE you can see any cards or make any decisions.

Another way of saying this is that it is calculated per round and not by hand. You may split up to 4 hands but you have only had one round. Likewise if you doubled on each of those splits, you would have made 8 bets but it is still only one round.