Lets assume an online casino offers you a 15% loss rebate on their blackjack games that have a 0.5% house edge. What will be the new house edge after taking this into consideration?
I'm not sure if I calculated this correctly, but I'm thinking it is 0.425% house edge. By the way, I hate loss rebates, but they are better than nothing. Any thoughts on how to play loss rebates?
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This topic has been discussed a lot here. A couple months ago, a sports betting offered me a $1000 one-time loss rebate, and I betted on the losing team and lost it, however, the $1000 rebate was not real money but a bet credit. There is a lot of catch in these loss rebate terms.
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15% Lossback on all games up to $10,000 in Casino Free Credits over 3 day period! Min loss is $50. Games don't have to be blackjack.Originally Posted by Old new guy
So, I’m going to be one of those guys who can’t answer your question, but knows there’s more info needed. What’s the minimum amount of loss needed to get the rebate? And is there a maximum rebate to be obtained?
Details:
To qualify, players must be invited to receive this promotion, then have a net loss of $50 or more, from their cash balance, on all Casino Games. Players who qualify will instantly receive 15% of their net losses on all Casino Games (of $50 or more) back in Casino Free Credits up to $10,000 upon conclusion of the offer period. Offer will expire 3 days after offer assignment.
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We probabaly do not need a mathematician to figure this out. Eliot posted a long article about this, but I can’t follow. Here is my consideration: Suppose we play 100 hands blackjack. We win 1.18 units on each of the 42 winning hands, lose 1 unit on each of the 50 losing hands, and push the remaining 8 hands.
If there is no loss rebate, the house edge is
(1.18x42-1x50)/100= 0.44%.
If there is a loss rebate of 15% cash on every losing hand, the house edge is:
(1.18x42-1x50x0.85)/100= -7.06%.
This is a huge player advantage.
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Apparently, somebody disagreed with me, because I saw a no helpful comment, but this is the maximum advantage a player should go for.
Last edited by aceside; 10-30-2022 at 12:59 PM.
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Based my calculation, we find that the strategy is simple, that is, bet your maximum possible amount to complete your gambling in one hand. That was what I did for sports betting, but I lost that bet. Maybe my strategy was incorrect?
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This is how I came up with the 0.425% house edge. I assumed regular blackjack play at say $25 a hand for lets say $10,000 in action. At 0.5% house edge that should yield a $50 loss. However, you will get $7.50 back in free credits so your loss is only $42.50. Then $42.50 divided by $10,000 in action gives a house edge of 0.425% for this promotion.
Note: There is often a leaderboard going on at the same time where you can earn additional credits.
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If no other restrictions, can't you just make a bet $66,666 on BANKER(live dealer baccarat table) ? If you really want to guarantee a profit, you can get other AP who with same loss rebate offer bet the same amount on PLAYER in a same round, then both of you can share the $10,000 rebate!
Last edited by James989; 11-01-2022 at 01:53 AM.
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