Quote:
Originally Posted by mixgameADDict
Huh? Isn't that running over EV or does "[putting] 6k in action" mean something different than I think it does?
Btw, I recently started counting. I've played 3 times and I know I made a few smallish mistakes but should have still been +EV overall but find myself down over $2k. I've been wonging in with true counts of 3+ at $100-200 and then usually playing another shoe or two so as to not look suspicious with a $25-200 spread (most bets $25x2 - $100x2).
I'm pretty sure my experience is just bad variance but would be interested in hearing your thoughts.
I will give the short answer first. Yes it is just variance. Your short term results are indistinguishable from luck.
Also, in 21 you cannot make any mistakes. I think you can afford to make one basic strategy mistake like once every 20 shoes or something.
Here is how you can calculate the range of variance. For this example I will use the following assumptions. 1. Your expectation or edge is 1%. 2. Your avg bet is $100. 3. You are playing a Vegas style 6 deck game with good rules. Given this, the following is how you calculate your range over a set number of hands. In this example we will calculate the range over 10k hands.
Your expectation after 10k hands is $10k or $1/hand. The range is caluculated by taking the sq rt of the number of hands, in this case 10k. So it's 100 * the std dev for the game type which is about 1.15 * the avg bet of $100.
So we get $11,500. So 1 std dev given the above criteria is $11,500.
What this means is that after 10k hands of play you should expect to be up
$10k + or - $11,500. So you could be down $1,500 or up $21,500 and anything in between would be considered within the normal range of variance.
Now the further you go outside of this range, the less likely it is that it is variance, though it is possible. I would say you start hitting the "long run" at around 40k-50k hands. If you are down money after that many hands, you are likely either playing in a bad game, or you are making too many mistakes.
It takes awhile to get that many hands if you are wonging though. To give you an idea, you get about 27 hands/ 6 deck shoe. And you get about 3 shoes/hr.
Out of 100 hands you play about 20 with an advantage. So if you are wonging you are only playing about 16 hands an hour. So it would take you about 3 months of full time play to reach that number.
So people always ask me why I never pursued blackjack exclusively. Well it's because it's very time consuming, you always have to worry about getting barred, and you have to play pretty high in order for it to be worth it. But the higher you play the higher the scrutiny so you can't really play for very long. But it's a really good thing to add to your overall gambling strategy.