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Blackjack as an example doesn’t work for the card counters that have +EV which can be had in a half day of reading / memorizing and $5k bankroll. Technically,
by reducesuffering 4y ago
Blackjack as an example doesn’t work for the card counters that have +EV which can be had in a half day of reading / memorizing and $5k bankroll.
Technically, their investment EV is far higher than stocks and bonds. Could be on the order of 2% per day, if it wasn’t for those meddling back offs and limits.
- WalterBright 4y agoThe casinos know about card counters and throw them out. They also employ countermeasures: 1. limit the amount of bets 2. using multiple decks 3. reshuffling the decks long before the deck runs out making the return so miniscule as to be a waste of time.
- reducesuffering 4y agoCasinos know about card counters but are unable to deal with them effectively just like people dealing with social engineers. 1. Bet sizes can be up to around ~$10k with a 1% - 3% EV per hand. 2. Doesn't matter too much, standard 6 or 8 deck shoes still are 0.5% EV at true count 2 and +0.5% thereafter. 3. This matters more, but most counters eye dealers with 70%+ penetration of all the decks, which still averages to the +EV above. Returns are ~$50/hr at your average casino but the sky is the limit for having mid 6 figure bankroll and being a smooth social engineer with $5k bets at high roller tables. Some hands are +$50-$250 per.
- WalterBright 4y agoI thought blackjack bets were limited to $500. Seems my information is outdated. Nice to hear some better info!