Why does casino assign high limits to blackjack games with lower house edge?

[ZenMaster_Flash]

"The majority of players make playing mistakes 10% of the time and play with 2-5% disadvantage/"

From where do you derive a 10% error rate? Sounds like a bad guess.

It is VERY hard to have a 2% disadvantage as that means a quadruple

or quintuple increase.

Five Percent (5%) is in place if the player mimics the dealer strategy,

and plays to "not bust"; and (nearly) nobody plays that badly.

[MJGolf]

Five Percent (5%) is in place if the player mimics the dealer strategy,

and plays to "not bust"; and (nearly) nobody plays that badly.

Zen, you are playing with and teaching folks who KNOW how to at least play basic strategy. I think you are forgetting how bad some folks actually play BJ. The hold from Vegas (probably most casino area tables) is OVER 20%. If EVERYONE played basic strategy then the hold would NOT be this high AND that 5% loss rate you mention wouldn't be in effect either.

I think that there are a LOT of John Q Public players that do NOT even play basic strategy. Point in fact, I was trying to teach a friend basic the other night at casino..........(I know.......I know.......not the best time to play AP play, too). He claimed to know how to play but I had to stop him from doubling hands he could break on..........hitting hard 18..........forgetting to double on 10 and 11 when dealer had appropriate up card, etc. And he was NOT the only one. Lady next to me at one table was playing tips for the dealer same amount she was playing on her hand...........not exactly a positive play. So there ARE people.......and a lot of them......... that do indeed play quite POORLY! (And thank goodness in a way............it gives us money that the casino keeps for us to go after hopefully.....)

[ZenMaster_Flash]

"The hold from Vegas (probably most casino area tables) is OVER 20%."

The "casino hold" is related to, (but vastly different from), e.v.

Standard Holds vary quite a bit, but a casino hold over 16%

is unusual, especially in Vegas, where it tends hover around 12%

in spite of the vast majority of games being H17, and a very sizable

proportion pay 6 to 5 on BJ.

Furthermore ~ casinos include Span21, BJ Switch, and all BJ variants

in the hold, (as they do V.P. and Slots); and those 2 games have holds

generally between 32% and 40%. Spanish21, it is noteworthy to mention

has a LOWER House Edge than BJ but has a hold double to triple that of BJ

because nearly nobody plays the Basic Strategy correctly.

[ZenMaster_Flash]

MJGolf

I just checked.

The hold on BJ has NEVER reached 20% in Las Vegas.

It has ranged from 8% to 17%

HERE ... have a look for the hold over the last 6 years:

http://gaming.unlv.edu/reports/nv_table_hold.pdf

[MJGolf]

I agree in some respect Flash as to the historical figures BUT it depends upon HOW you define hold I guess. Is it the percentage of the drop? Or the percentage of the amount bet? I have always understood it is based upon the amount BET and what is kept from that, though those figures would be harder to determine. I will try to lay my hands on the info I had in the past, might have been off Wizard's site or somewhere else. But I had always understood it was close to the 20%.

Guess it's not as high as I understood or was told.

But I did find some Macau numbers which show table games % hold much higher?

http://www.fool.com/investing/genera...-earnings.aspx

[ZenMaster_Flash]

There is only ONE definition to casino "hold."

Take the amount of money that is used to buy chips, including markers,

match play coupons, promo' chips, etc. etc. THAT is the "DROP"

You then take the amount of chips that disappeared from the tables

chip rack.

The difference between the two is the AMOUNT won by the casino.

THAT amount divided into the DROP is the "HOLD"

It is related to the House Edge, but is VERY different.

That is because at a lot of games a high proportion of

people buy chips and walk away without any, e.g. roulette.

So ... Let's imagine that you own a casino, and the casino

accountant reports to you that the BlackJack "Drop" for the

month was $10,000,000 and the "Hold" was $1,250,000,000,

then the HOLD PERCENTAGE was 8.5%. YES, it does dip that

low now and again.

[ZenMaster_Flash]

"Is it the percentage of the drop? Or the percentage of the amount bet?"

See my post #32. They are essentially the same thing. Money IN and money OUT.