How much will 100,000$ win you at Blackjack?

 How much can 100,000$ win you at Blackjack

Aren't casinos magical? You walk into a casino and see bright lights, there's a soothing, sensual smell and you hear people celebrating wins. Now you are ecstatic. You can't wait for the chips to fall into your hands. You start to play Blackjack. You make big wins and feel like you're in heaven. And then, the boom! How long have you had a winning streak? This is not a common scenario. (Or is this just me?

After my last visit to a casino, I thought there must be a strategy and I needed to figure out how likely I was to win this game. I did a quick Google search for Blackjack strategies. Nearly all of the websites I found pointed me towards the Basic Blackjack Chart of Betting. Now it was time to test it.

This is exactly what I did. Let's suppose we have 100,000$ to stake (I do so wish!) We play 10,000 hands and each bet costs 10$. We can think of all the questions we can ask through this simulation.

How much can I win after playing 10,000 hand?

What are the win and loss percentages?

How many Blackjack's can I hit? (At least, 1,000)

How much does the Dealer earn?

Which hands are the luckiest ones?

We can create a matrix where the player cards win percentages against the dealer cards. (I'll use it in my next visit to a casino and make the moolah!)

Simulation Setup

Let's play a simulation of a casino game. 6 players each have a pot worth 100,000$. There will be a dealer. Each bet will cost 10$. A blackjack winning bet will earn a return if 3 : 2. This means that a 10$ wager will return 25$. (inclusive of the 10$ stake). A normal high win or dealer bust bet will earn a 1 :1 return, which is that a $10 bet will return $20. Let's not mention insurance, splits or double down. Since all casinos now deal with 6 cards per deck, we will use the same. That is, there will be 312 cards per round. We will shuffle all cards every round to imitate continuous shuffling machines. The dealer will deal cards with players 1 through 6 before ending the deal with him. The dealer also has his face-up card. The sum of the two cards they have dealt so far and the face-up cards of the dealer will determine whether the players decide to stand or hit for more cards. This is based on Basic Blackjack Strategy (refer below). Okay, let's do the simulation. Let us see the results.

Games Results

Let's start with the Total Statistics of all hands played together, then let's move on to the individual player stats. Players combined win only 586 625$ which is a drop by 2%. The $Amt won/Bet ratio of 0.98 is the highest, and betting more than 1 will never give you a profit. Let's examine the winning probability. From multiple runs, it is always between 42 and 43 percent. The losing probability is always between 47 to 49 percent. This means that the casino will always make more than anyone else if they play a large number of hands. Let's take a look at our blackjack hit ratio. Our original goal was to hit 1,000 Blackjacks from 10,000 hands. That is 1 in 10 or 10%. However, we have hit 2845 of the 60,000 total hands. This is only 5% of our hit percent. Which hand has been the luckiest? These are the pair of 10 (10J,K and Q) -- all have the same value when it comes to Blackjack. Let's look at the individual stats of each player. Blackjack - Win Money, and More