Blackjack Odds

This page will offer you a good general indication of what the odds really stand in gambling, how they are described and what blackjack odds mean. Its true and we wont deny that the house edge in blackjack is against you like in all the other casino games, but what sets blackjack apart from its companions though, is the player-controlled variability of that expectation.

In roulette for example, the odds against you are pretty standard for every bet on the board, with a 5.26% house edge. Say you bet on two columns on the same spin at the roulette table, the odds are you'll win 24-14. Than how come that the casinos don't go broke? There is another factor that has to be considered, and it's called the payoff.

Basically, if you bet on two columns in roulette for 12 bucks each (24 bucks total) and win, you get paid $12. But on odds of 24 to 14 the casino should pay back 14 dollars, on an even playing field. The casino knows it can profit properly even against the odds if it matches its payouts appropriately, so it profits by taking $24 when you lose, but only paying $12 when you win.

In here we should discuss the blackjack odds and not talking about roulette, but... math is math and things apply all across the board in gambling. The house edge is the theoretical number of the total amount bet that the casinos would keep if every set of decisions were to fall exactly into a statistical row. This is where the roulette example may become clear.

As per our two-column roulette table example, in 38 spins the house expects to win 14 rounds at $24 profit each for $336 profit in all; at the same time they expect to lose 24 rounds at $12 a pop, totaling $288 dollars of loss. The total bet is 38 multiplied by $24: $912, while the take is $48 (the difference between the $336 profit and $288 loss).

The edge is $48 divided by $912, which equals 5.26%. Keeping in mind that I used the qualifier "expected" for the house, and although 38 rounds may not land 24 wins for the casino, 38 million rounds will net a number that is statistically insignificantly different from 24 million. And of course, there are millions of spins, so the house does indeed rake in its 5.26% edge.

The 'return percentage' or 'pay out percentage' is another theoretical number. This is the percentage of the money bet that would be returned to the gamblers, offcourse if everything goes into a perfect statistical. A 95% payout rate means 100 minus 95, or a 5% house edge.

The Vigorish is a fee the casinos charge on certain bets. There are situations where the casino applies a vig as a bet is being placed, so it is collected no matter if you win or loose, and other instances like in Baccarat, where a Vig is only charged on the winning banker hand.

House hold, or hold percentage, is the non-theoretical equivalent of the house edge. In blackjack the game play is a little more varied, which affects the amount of the edge the casinos are actually pulling at any one point in time.

The hold is the amount of cash the casino actually keeps out of the total dropped on the table. It is a counted real number, not a theoretical one such as the house edge, but it is directly analogous to the house edge. The variance is caused by variables such as how long players continue to bet from original buy-ins and how big their wagers are relative to bankrolls, etc.

The house edge or the odds against you are dependent on how you play the game, so the odds vary. If you don't know the basic strategy and are just playing on impulse, you're looking at a house edge of anywhere from 2-5%. Every decision you make while playing blackjack will change your winning odds. In the long run this is very important. Over time, if you bend on your game more then offten, you will most likely have won more, or perhaps lost less. The catch here is this: the basic strategy can really affect the house's hold only if you take advantage of double-down situations to extend your profit.

As I already said, the odds when playing blackjack are not constant. They are influenced by a great deal of factors. Some factors have a positive influence on your odds, while others decrease your chances of winning and that is pointed in the chart below.