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Originally Posted by
seriousplayer
Playing multiple hands simultaneously doesn't low variance. It increases expected value and therefore lowers N0. I think the reason why playing multiple hands simultaneously cut fluctuations is because it decreases N0. A lower N0 requires less hands to be played to be ahead by one standard deviation. N0 is variance/(expected value)^2.
I believe the blackjack theory has been flawed for many years, especially on the EV part. Let me use real numbers to demonstrate this flaw.
Firstly, consider negative EV:
For one hand, variance=1.3 and EV=-0.5%;
For two hands, variance=[2X1.3+2X(2-1)X0.48]=3.6 and EV=-0.5%.
Secondly, consider positive EV:
For one hand, variance=1.3 and EV=+0.5%;
For two hands, variance=[2X1.3+2X(2-1)X0.48]=3.6 and EV=+0.5%.
The expected value of two-hand is Not equal to two times the expected value of one-hand. The math applies to the situation when a blackjack table is packed with 6 players when TC=+2 and thus players' advantage=+1.0%; however, each of these 6 players only has an advantage of +1.0%/6=+0.17%. Too small!. That is why I'd not count card when the table is packed.
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