question archive In a large? casino, the house wins on its blackjack tables with a probability of 51
In a large? casino, the house wins on its blackjack tables with a probability of 51
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In a large? casino, the house wins on its blackjack tables with a probability of 51.4?%. All bets at blackjack are 1 to? 1, which means that if you? win, you gain the amount you? bet, and if you?lose, you lose the amount you bet.
a. If you bet? $1 on each? hand, what is the expected value to you of a single? game? What is the house? edge?
b. If you played 300 games of blackjack in an? evening, betting?$1 on each? hand, how much should you expect to win or? lose?
c. If you played 300 games of blackjack in an? evening, betting?$5 on each? hand, how much should you expect to win or? lose?
d. If patrons bet ?$10,000,000 on blackjack in one? evening, how much should the casino expect to? earn?
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