--- In vpFREE@yahoogroups.com, "chev59el" <dje59@...> wrote:
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> --- In vpFREE@yahoogroups.com, "Mickey" <mickeycrimm@> wrote:
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> > You have $1000 and intend to play blackjack until you double the $1000 or go broke. This particular blackjack game has a theoretical return of 99.6% with basic strategy. You know basic strategy but don't know how to count cards. You will be the only one playing and the deck will be shuffled after every deal.
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> > What is the optimal bet sizing to give you the best chance to double the $1000?
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> Pretty easy (I think). Bet once - $1000. If U bet less every time U R playing @ 99.6%. I'm not taking into account chances 2 double & BJ, etc. so I cud B wrong.
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Winner! Chicken Dinner! By breaking your bets into increments of $1000, and betting over and over again, the compound effect of negative expectation gambling kicks in. Your best chance is to bet the whole thing at once. This speaks to the conflicting interests that gamblers have; they want to win, but they also want their money to last awhile.
My old buddy, Black Bart, the guy that taught me how to hustle credits about 1992, was a case study in compulsive gambling. He could never go to sleep with a dollar in his pocket.
His Margingale worked like this on the craps table. He'd bet 1 unit. If he lost that bet he'd double up and add one. So the next bet would be 3 units. If he lost that bet then the next bet was 15 units, etc.
