Re: Expected cost of a Pink Chip
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You get blackjack about 1/21 of the time. You win with blackjack about 1/22 of the time.
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What am I missing in my calculation then? Let's assume a single deck. To get blackjack you must get exactly an ace and a "ten" card. There are 4 aces and 4 each of tens, jacks, queens, and kings. There are, therefore, 4*(4 + 4 + 4 + 4)/2 = 32 combinations that give you blackjack. There are 52 choose 2 = 1326 combinations of starting cards that you can get. The probability of getting blackjack is then 32/1326 = 2.41%. The odds against this happening are (1/0.0241 - 1):1 = 40.44:1. Thus you will get blackjack once every 41.5 hands, on average.
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Why are you dividing by 2? There are 64 black jack hands, not 32.
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