How Much Does A Blackjack Dealer In Vegas Make

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Las Vegas - Best blackjack in Vegas? - Kind of a dumb question, I suppose, but I made a day trip last year into LAS (flying from SFO in the morning, and onto LAX in the evening). Went to Caesar's. Unsurprising, many traveling to the 'Entertainment Capital of the World' want insights on how to play black jack in Vegas! Black jack has always been a crowd. Answer 1 of 13: From the looking around I've done, it looks like finding a Vegas casino that actually follows Las Vegas blackjack rules is getting difficult.Anybody know which casinos offer the. Hotels and casinos have some sneakier methods to separate you from your cash than just a losing bet at the blackjack table or the slots.

6 CommentsFact 16Know Gambling: Blackjack: How does the Dealer have in blackjack when does the dealer have to stay the Advantage?

Fact 2

The house edge only applies over a statistically large number of bets.

How much does a blackjack dealer in vegas make

The house edge obviously doesn’t apply to a statistically small sample of bets.

Think about it this way: You’re playing in a blackjack game with a 1% house edge.

You walk up to the table and play a single hand for 0.

You have the following possible outcomes:

  • You could lose 0.
  • You could win 0.
  • You could win 0. (If you get a natural.)
  • You could push, winning nothing and losing nothing.
  • You could double down or split and win 0 or more.

Even though the mathematical expectation for that bet is to lose , actually losing a dollar on a single 0 hand of blackjack is literally impossible.

In fact, you couldn’t lose an average of per hand on 0 blackjack unless you played quite a few hands. The math just doesn’t work.

You could play one hand and win 0.

You could play ten hands and have a net loss of 0, which is an average loss per hand of .

You could play one hundred hands and have a net loss of 0, which is an average loss per hand of .

But once you get over 1000 hands, the actual results are going to start resembling the mathematical expectation.

At 10,000 hands, you’re going to be even more likely to see something statistically similar to the mathematical expectation.

At 100,000 hands, you’re almost certainly going to get eerily close to the expectation.

At 1 million hands, the chances of getting results different from the expectation are almost nonexistent. (It would take you 16, 667 hours to get in a million hands, by the way. If you played for 40 hours a week, that would take 416 weeks to accomplish, or about 8 years of full time play.)

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The House Edge in Blackjack: 21 Things to Know

By Randy Ray Published on June 02, 2017

If you’ve done any reading at all on the Internet about blackjack , you’re familiar with the phrase “house edge”. In fact, if you’ve read about the math and/or probability behind ANY casino game, you’ve heard this phrase.

But what does “ house edge ” mean?

And what does it mean for the intelligent gambler?

How Much Does A Blackjack Dealer In Vegas Make

I’ve listed and explained 21 facts about the house edge in blackjack below:

If casinos have only a 2% edge in Blackjack, why do they win far more often than that?

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13 Answers Colin Jones , Card counting training expert. Professional Blackjack player and team Manager Answered 129w ago · Author has 65 answers and 172k answer views

I think the answer you your question lies in a misunderstanding of what the house edge represents. The house edge is not the percentage of time the casino wins, it's the percentage of each bet the casino will take in the long run.

Let's say you're playing a game with a 2% house advantage and you're betting every hand. In a normal game of blackjack you might make 100 individual bets in one hour. Let's say you play this game for about 3 hours. That means you put down action on the table that aggregates to 00.

x 100 hands/hour x 3 hours = 00.

Now even if you only came to the casino with 0 bucks in your pocket, you still made 00 worth of bets in the time that you were there. The casino can expect to make 2% of that in the long run, which is 0 bucks. The casino is actually expecting to take most of the money you brought with you in the long run. So to answer your original question, you're right. Casinos win way more often than 2% of the time because they take a bite out of every bet.

In the short run you'll either felt-out or make a windfall, but the casino makes their money no matter what. They have several tables with other people playing the game so if they don't make their money off you, they will make it off the other patrons as long as they keep taking bets.

1.8k Views · View Upvoters · Answer requested by Tim White

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Tom McNamara , PhD EECS, MIT Updated 128w ago · Author has 693 answers and 680.1k answer views

As David Shi and Alan Bustany say, a small percentage per bet adds up fast. Two percent, or 0.2%, isn't a lot per year. But it's a lot per minute.

Alan also brings up a key point that a lot of people who gamble haven't thought through carefully. When do you walk away? The only time you must walk away is when you've lost too much. Even if each game is perfectly fair, that puts the player at a disadvantage.

Let's try it. Flip a coin for each game and add or subtract from your finite stake. We'll ignore the house's edge. The only time you must leave is when your stake is gone. Even if we sometimes terminate early for another reason, sometimes we'll terminate because we're out of money. Those occasions bring down the average winnings.

Using a higher limit doesn't help, unless the limit is so high that the other player is forced to walk away equally often.

In principle players could eliminate that problem by playing exactly 7 times or something, then walking away no matter what. But people who are there for fun are more likely not to be so disciplined.

You can use a system where you quit when you win 10% of your stake ... but unfortunately if you use *that* system repeatedly, without some condition for stopping, you're back to playing until you're broke. Each gambler can only use a terminating condition once in his or her career! (Walking away and coming back the next day is no help.)

Semi-off-topic PUZZLE on terminating conditions:

There was a little bitty kerfuffle about terminating conditions on the net a few years ago. Supposedly there was a Google interview puzzle*:

'A whole country tries to have more female babies, using the following system. Each family keeps having kids until they have a girl, at which point they stop.

Q1.Will this alter the boy/girl balance in one family? By how much?

Q2. Will this strategy alter the boy/girl balance in that country? By how much?

(Assume each birth is equally likely to be a girl or a boy, and the births are statistically independent. )'

Warning, answer ahead!

Answer ...

Make

The answer is: in either case, only if they go extinct due to this rule. And even then we only expect only 1 more girl than boy whether it's one family or an entire country. (The very last child will be a girl. The rest are unknown and distributed 50/50.) If the whole country stops having babies, they stop on a girl. Otherwise the rule has no effect. The next birth is always random.

How Much Does A Blackjack Dealer Make In Las Vegas

But it's tricky. Let me lead you to a wrong answer.

One family does have a strategy the produces (on average) an extra half girl and a missing half boy. But it doesn't scale. ANY NUMBER of people can use the strategy ... to generate an expectation of one extra half girl and one missing half boy.

Because they were led to calculate per family, then add up families, a lot of people who knew better didn't look at the whole sample space and got the puzzle wrong.

*at the time apparently Google used puzzles, or anyway the story could be apocryphal.

1.2k Views · View Upvoters Alan Bustany , Western Classic Player of the Championships Answered 129w ago · Author has 5.4k answers and 15.2m answer views

Yes the 2% (or less) edge is based on correct basic strategy and most people do not play correctly, but the reason the casino wins better than 51:49 is that you stake your money far more than once.

If you bet your 0 just once your expected return losing a 2% edge would be on, say ten bets of . What will happen in practice however is that you will make fifty to two hundred bets of with your 'bankroll' going up and down until it hits zero or, for some other reason, you quit. As a result you will have subjected upwards of 0 to that 2%+ edge resulting in an expected loss of at least .

Quitting for some other reason is the rarity. Especially quitting while you are ahead. For most people getting ahead is an opportunity to 'get lucky' and gamble some more. They will risk far more money in a longer session before they 'get unlucky' and go bust. Their total bet can exceed ,000 for an expected loss of at least 0. Such people would likely never bet ,000 on one bet, but the effect of their Blackjack session is exactly that, except the variance is much smaller. The smaller variance means the Casino can be far more certain of collecting their 2%, otherwise known as your entire 0.

How492 Views · View Upvoters · Answer requested by Tim White Mike Ramsay , former Professional Poker for 2 months Answered 35w ago · Author has 134 answers and 46.2k answer views

quite simply it does not mean that they will “win” 52% of encounters with a punter. it means that they will “win” 52% of any transaction. therefore the player who plays with 100 usd and expects to walk away with 98% is mistaken. in an hour the player will play multiple times his stack i,e, maybe 5000 USD and 2% of those transactions is 100USD so he will be broke!

also there is some logic around a probability of ruin type calc. when he is 100 USD down he is out and has to reload and that happens , but far more likely is if he ever gets 100 USD up to 200 USD he is readily capable of losing the lot.

the way to look at the casinos edge is that if there are 50 tables with 6 players on each table betting 10 usd that is 3000 USD per hand. the house will make 2% or 60 USD per hand. the only place that comes from is the punter so therefore each hand the house wins 60USD and the collective punters lose 60 USD

1.6k Views David Shi , Former card counter, banned from many casinos Answered 129w ago · Author has 117 answers and 349k answer views

Casinos actually have less than 1% edge, usually 0.2% - 0.7% depending on rules (0.2 is 2D, S17, DAS, LS, RSA, 0.7 6 deck H17 No RSA No LS).

The reason is as you said, most people don't play perfectly. They mess up on certain moves like for H17 Soft 19v6, 12v2, Splitting 9's, Double Soft hands. On Double Deck they might not split 7,7 against 8 and 6,6 against 7. Maybe they surrender too much or don't surrender enough.

Still, I'd say most people play between -2-4% EV so it's not even that bad. 2% edge is actually a lot for the casino though. It certainly adds up over time.

1.7k Views · View Upvoters · Answer requested by Tim White Benjamin Black Perley , I've spent a decade in casinos. Answered 16w ago · Author has 5.1k answers and 2.6m answer views

Repeat bets. A gambler rarely enters a casino, places a single 0 bet, and either walks with 0 or

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Know when to hold'em and when to fold'em. Learn tips for dealing hit cards in this free video clip about becoming a blackjack dealer.Expert: Melissa PowellBio: Melissa Powell works with the Dealer Dolls located in Los Angeles CA, and she has been dealing Blackjack and delighting her clientelle for for over two years.Filmmaker: Louis Nathan

Advantage players

What casinos don’t like are “advantage players” – people seeking to have an edge over the house. Sometimes this involves cheating and/or illegal activities ranging from past posting (making a bet after the time when no more bets are to be taken) to collaborating at the poker table and using a computer to help make decisions .

Card counting, however, is legal. In Blackjack, the aim of the player is to achieve a hand of cards whose points add up nearer to 21 than the dealer’s hand, but without exceeding 21. Many hands are played from the same deck of cards, so what happens in one hand will influence what happens in future hands. As an example, if a ten has been played from the pack then it cannot appear in the next hand. This is different from other games, such as roulette, where the outcome of one spin has no effect on the next spin.

Professor Thorp and his contribution to card counting.

Card counting is based on the fact that a large proportion of high cards (such as tens, jacks, queens and kings, which are all worth ten points) left in the unplayed deck statistically improves the player’s chances. This is because a player can decide not to draw a new card to a hand such as 16, but the casino is forced to, as it follows strict rules. If there are a high proportion of high cards left in the unplayed deck of cards, the dealer has more chance of busting (going over 21). This can be combined with “basic strategy” – developed from computer simulations of millions of blackjack hands – which tells the player the best action to take for each possible card combination.

Combining card counting and basic strategy can help a player convert the (long term) house edge from 2.7%, in favour of the casino, to about a 1% advantage to the player. Of course, once you have this advantage you can increase your bet.

To give a simple example, if you were playing basic strategy and were dealt a ten and a six, and the dealer had a three showing (one of the dealers cards is visible to the player), you would stand (not take another card) as you hope that the dealer would draw a ten and bust. If you were card counting, and you knew that more low cards had been played, you might decide to increase your stake at this point.

, having given the casino –2 in theoretical. Most will continue to play until they’ve won a significant amount or lost everything.

Also, most players play much worse than the optimal strategy, which is where the theoretical house edge comes from. The hold, or the casino’s actual average edge over some period of time, is closer to 5%.

234 Views · View Upvoters George Sawyer , one of the founders of the original MIT Blackjack team Answered 129w ago · Author has 10.1k answers and 17.1m answer viewsHow much does a blackjack dealer in vegas make

First, I'd be suspicious that they only have a 2% edge. They might have a 2% edge against people who play the correct basic strategy, but most people don't. So I's assume that 2% number is a piece of propaganda.

I haven't gone through the numbers in decades, but a really big factor for the player is the huge payout for getting blackjack, which helps compensate for all the hands you lose.

453 Views · View Upvoters · Answer requested by Tim White View More

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What are a blackjack dealer's options?

up vote 12 down vote favorite 1

Everywhere I read manuals it focuses my options as a player. I can't figure out if the dealer knows his hidden card or not? Of course, when dealer has 10 or Ace showing, he checks if he's got a blackjack, right?

What are the dealer's options?

blackjack share improve this question edited May 21 '13 at 17:21 Gregor 6,51232966 asked May 21 '13 at 16:43 sren 61113 add a comment

Luke doesn't like it when you leave. Or go to the bathroom. Or have a PERFECT Blackjack hand. Cheers.

GAMING NEWS INTERVIEW

Man Bets Weed at Blackjack Table

Hat tip to Kid Dynamite for finding this gem. I fully expect this moron to be appearing on an upcoming episode of World's Stupidest Criminals.

Posted by change100 at 9:49 AM

5 comments:

StB said...

Sheesh! He deserved to get arrested. Everyone knows you can only bet pot in poker!

10:30 AM OhCaptain said...

Very funny! Thanks!

2:21 PM ogiers said...

The really sad thing is that this is what the police spend their time on. Someone is rather wasted and gets a silly idea. Rather than laugh and tell the guy to get serious, it becomes fodder for local TV news and the cops spend their time on 'a bad guy' rather than going after the real criminals.This guy was just criminally wasted. OH MY, an Ounce! Run for the Hills...Thanks for the link,Ogiers

5:25 AM Drizztdj said...

I wonder if the grade was good enough to bet the minimum at that table.

10:37 AM Nuveen said...

wow...it must be tough to remember basic strategy when you're high

How Much Does A Blackjack Dealer In Vegas Make6:37 PM

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Why Does the House Always Win? A Look at Casino Profitability ..If the value of the cards totals less than 17, then they must draw another card. You will see this rule imprinted on the actual blackjack table. It is usually expressed as “Dealer must stand on all 17s”. As soon as the dealer has 17 or more, they will stand. Blackjack Starter KitPlay Blackjack at Planet 7 Join/login to comment

How Much Does A Blackjack Dealer In Vegas Maker

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