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In the end, do most people lose all their money in blackjack?
I mean all the money that they brought to gamble with?
For example, I started with $100 and won $400.
I left and made the mistake of coming back a couple days later to gamble with my "winnings".
I made another $100 in the first ten minutes, then quickly preceeded to lose $600 the rest o the night..while my neighbors were winning the "perfect pairs" which paid 25-to-1.
So they left with about $2000, while i lost my $500 winnings, plus my original investment of $100.
$600 is a boat-load of money to lose in a few hours of gambling!!!
Then I realized, if the Casino was a place to make money, all the locals who live near the casino would be inside the casino instead of going to their jobs!!
True or False, in the long run everyone loses more than they make at blackjack?
And the dealers were telling me never to double-down, because thats how the casino makes theitr money. If doubling-down was good, the casino wouldnt let you do it. The dealer said the best way to make your money is to increase your bet, and dont do anything else.
- Vegas MattLv 71 decade agoFavorite Answer
Like every game in the casino, blackjack is a game with a mathematical advantage over the player referred to as the "house edge." In blackjack, when playing proper basic strategy, that edge is about 1%, meaning for every $100 a player wagers, they should lose $1. It may seem like most people lose more than that, but that's because people play with limited bankrolls (i.e., they don't have enough money to wade through the downswings and end up losing everything) and playing habits (more people play until they run out of money than leave while even or with a small win or loss). The casino's average "take" from each player is about 30% of their bankroll.
There is a way to create a mathematical advantage by counting cards and altering your playing strategy and betting depending on the count, but this is not a thing the typical gambler can do and it is fair to say that 99% of the gambling public will lose money in the long run.
As far as what the dealer told you, it's complete crap. Dealers are not necessarily blackjack experts, and 99% of them don't understand the math of the game. I know people ask them for advice a lot, but in most borderline situations (like when to double or split) they are no more knowledgeable than the average player. The particular dealer that you had was especially dumb.
From a mathematical perspective, NOT doubling down when you should is probably the biggest mistake you could make at a blackjack table. Whenever doubling down is recommended by basic strategy, the player is actually in a position to win more often than lose. In the long run, a player is going to make more money than they lose on these hands, so it is in your best interest to get as much money on the table as possible, which in this case means to double down. If you do NOT double down in these situations, the house edge will actually increase dramatically, up to 3-5% (from 1%). That's a huge amount of money you're throwing away.
As far as your friends winning at the bonus game, that's just dumb luck. The side games at blackjack actually have a much larger house edge than just playing the regular game, and in the long run they will devastate your bankroll if you always play them.Source(s): Professional Gambler living in Las Vegas.
- ?Lv 45 years ago
I was a BJ dealer for 10 years and you have the odds right on the money. In every game, the house has an edge , more so on some games than others. Bacarat is the most even odds, next is BJ. Carnival games ( 3 Card Poker, Caribbean Stud, Pai Gow, etc. are the worst odds in the casino, along with Roulette. Never place a side bet on any game. They are definitely House bets. Always go with a positive attitude, but also know you will probably leave without the money you took to play with. It's entertainment and that's what one has to realize when one is gambling. Good luck and have fun!
- QW3RTYLv 51 decade ago
On the long run(if you keep the same bet) you will lose more than you make at blackjack.
If you are lucky and "know" when to increase the bet and when to leave the table you may win on long run.
If the table run good(busting a lot from every starting card) you should double and split a lot. If the dealer make 19, 20 and 21 very often you should hit/stay instead of splitting and/or doubling.You should never play perfect pairs because on the long run you will lose.
Hope this helps you.Source(s): played casino for living - 4 years
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- 1 decade ago
I think in the end, most people lose their money gambling. But, isn't that the whole...point?