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Risk and reward : the science of casino blackjack

Author: N Richard Werthamer
Publisher: Cham, Switzerland : Springer, [2018]
Edition/Format:   eBook : Document : English : Second editionView all editions and formats
Summary:
For decades, casino gaming has been steadily increasing in popularity worldwide. Blackjack is among the most popular of the casino table games, one where astute choices of playing strategy can create an advantage for the player. RISK AND REWARD analyzes the game in depth, pinpointing not just its optimal strategies but also its financial performance, in terms of both expected cash flow and associated risk. The book  Read more...
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Genre/Form: Electronic books
Handbooks and manuals
Handbooks, manuals, etc
Additional Physical Format: (OCoLC)1031341990
Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: N Richard Werthamer
ISBN: 9783319913858 3319913859
OCLC Number: 1045629790
Description: 1 online resource.
Contents: Intro; Preface; Introduction; Accessing Interactivity; Contents; List of Figures; List of Tables; Part I Strategy; 1 The Game; 1.1 History of Casino Blackjack and Its Analysis; 1.2 Rules, Procedures, and Terminology; 2 Playing the Hand; 2.1 Basic Strategy; 2.1.1 Expected Return with Variant Rules and Procedures; 2.1.2 Expected Return vs. Return on Investment; 2.2 Composition-Dependent Play; 3 Tracking the Cards; 3.1 Linear Counts; 3.2 Choosing a Counting Vector; 3.3 Unbalanced Counting Vectors; 3.4 Relating the True Count to the Expected Return; 4 Betting 4.1 Yield, Risk, and Optimal Bet Strategies4.1.1 Factors Influencing Performance; 4.1.2 Bet Size in Relation to True Count; 4.1.3 Other Criteria; 4.2 Betting Proportional to Current Capital; 4.3 Multiple Hands; 4.4 Back-Counting and Table-Hopping; 5 Playing the Hand When the Count and Bet Vary; 5.1 Play Strategies That Vary with the Count; 5.1.1 Reconsidering the Counting Vector; 5.1.2 Count Dependence of the Play Parameters; 5.1.3 The Insurance Bet; 5.2 Counter Basic Strategy for the Variable Bettor; 6 Synthesis and Observations; 6.1 A Practical, Nearly Optimal Strategy 6.1.1 Recreational Player6.1.2 Competitive Player; 6.2 Blackjack as a Recreation vs. a Profession; Part II Analysis; 7 Play Strategies; 7.1 Basic Strategy, Large Number of Decks; 7.1.1 Analytical Framework; 7.1.2 Expected Player Return; 7.1.3 Frequency of Tied Hands; 7.1.4 Multiple Simultaneous Hands: Return, Variance, and Covariance; 7.1.5 Expected Number of Cards Used per Round; 7.2 Basic Strategy, Small Number of Decks; 7.2.1 Analytical Framework; Reordering Theorem; 7.2.2 Expected Return and Optimal Basic Strategy, vs. Number of Decks; 7.2.3 Surrender; Insurance 7.3 Play Parameters Dependent on Identities of Initial Cards7.3.1 Comparison with Previous Authorities; 8 Card Counting; 8.1 Analytical Framework; 8.1.1 Asymptotic Distribution; 8.1.2 Expected Return; Invariance Theorem; 8.1.3 Hermite Series; 8.2 Expected Return at Nonzero Depth; 8.3 Optimizing the Counting Vectors; 8.4 Optimizing the Counting Vectors: Many-Cards Limit; 8.5 Computation of the Derivatives of the Expected Return; 8.6 Unbalanced Counts; Appendix 1: Asymptotic Distribution of Card Likelihoods; Appendix 2: Eigenmodes; 9 Bet Strategies; 9.1 Risk and Capitalization 9.1.1 Risk in a Game with Fixed Return9.1.2 Optimal Betting When Return Fluctuates: Expected Capital and Risk; 9.1.3 Connections with Finance; 9.1.4 Distribution of Capital; 9.1.5 Properties of the Risk and Expected Capital Expressions; 9.1.6 Optimal Betting When Return Fluctuates: Bet Strategy; 9.1.7 Yield When the Bet Size Is Discrete; Wong Benchmark Betting; 9.2 Betting Proportional to Current Capital; 9.2.1 Mixed Additive and Multiplicative Betting; 9.3 Betting When Playing Multiple Simultaneous Hands; 9.4 Back-Counting and Table-Hopping; 9.4.1 Entry; 9.4.2 Entry and Exit
Responsibility: N. Richard Werthamer.

Abstract:

Blackjack is hugely popular in casinos worldwide. This book analyzes the game in depth, covering its optimal strategies and its financial performance in terms of expected cash flow and associated  Read more...

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