10% refund question
 

Cross posted in the internet bonuses forum...

but I trust the zoo more

[ QUOTE ]
Does getting a 10% refund on Black Jack losses at totalbet, make BJ a +EV game?

simple question...


simple answers please

[/ QUOTE ]

Re: 10% refund question
 

hmmm. i am lazy, but interested in the answer as well.....

Re: 10% refund question
 

[ QUOTE ]
Cross posted in the internet bonuses forum...

but I trust the zoo more

[ QUOTE ]
Does getting a 10% refund on Black Jack losses at totalbet, make BJ a +EV game?

simple question...


simple answers please

[/ QUOTE ]

[/ QUOTE ]

Simple answer: No

Less simple answer. Suppose you lost $100 and they gave you back 10% ($10), you still lost $90. Plus EV? I don't think so.

Complex answer: If you get 10% of your total action then YES, you should gamble 24/7 before the site goes broke.

Jimbo

Re: 10% refund question
 

Since it's 10% of what the house makes from you, or the house advantage, wouldn't it only lower the house advantage by 10%?

I can't see them making the game +EV.

Re: 10% refund question
 

It would help if you linked the details about this.

I'm going to assume no, because then the site would lose lots of money. I would think that the 10% back on losses is only for a session/month or something like that and not every hand.

Re: 10% refund question
 

[ QUOTE ]
[ QUOTE ]
Cross posted in the internet bonuses forum...

but I trust the zoo more

[ QUOTE ]
Does getting a 10% refund on Black Jack losses at totalbet, make BJ a +EV game?

simple question...


simple answers please

[/ QUOTE ]

[/ QUOTE ]

Simple answer: No

Less simple answer. Suppose you lost $100 and they gave you back 10% ($10), you still lost $90. Plus EV? I don't think so.

Complex answer: If you get 10% of your total action then YES, you should gamble 24/7 before the site goes broke.

Jimbo

[/ QUOTE ]

Before giving it an absolute no, consider if you deposit $100 and bet it all on one hand. You either win $100 ($150 on a BJ) or lose $90. What % of the time would you have to lose to make this -EV? Someone who knows the % for losing/winning/getting a BJ could give a pretty simple answer for this.

Re: 10% refund question
 

From the email Total bet sent me

10% Cashback on Blackjack
The Progressive Blackjack Jackpot is over £153, 227!

Whether you are aiming to win the progressive, beat the dealer or simply have some fun, play Blackjack at totalbetcasino from Fri 25 Nov - Tue 29 Nov and if you don't walk away with a profit, we will credit your account with 10% cashback on Wed 30 Nov!

Terms and Conditions:
Only play on Blackjack or progressive Blackjack at the totalbetcasino will qualify for the 10% cashback promotion in the promotional period and the minimum refund issued will be £0.10 Only players with an overall loss in their account for play from Fri 25 Nov until midnight Tue 29 Nov (GMT) will be credited - example: a player plays Blackjack on Sat 26 Nov and at the end of the session has won £10, on Mon 28 Nov the player returns and plays Progressive Blackjack and loses £15. The player does not play again and on Wed 30 Nov their account is credited with £0.50 for the overall loss of £5 they had during the promotional period. All qualifying accounts will be credited by 18h00 GMT on Wed 30 Nov 2005.


couldn't find anything on the site

Total bet Casino

Re: 10% refund question
 

what is a progressive blackjack pot

Re: 10% refund question
 

My quick math tells me this is a marginally winning. Assume a 1% house edge in BJ playing perfect strategy. X is your EV.

.49X - .51X + (.1)(.51X) = .031X or a 3% advantage.

Anyone read this any differently?

Re: 10% refund question
 

[ QUOTE ]
My quick math tells me this is a marginally winning. Assume a 1% house edge in BJ playing perfect strategy. X is your EV.

.49X - .51X + (.1)(.51X) = .031X or a 3% advantage.

Anyone read this any differently?

[/ QUOTE ]

Aside from the fact that you gave the house a 2% advantage, I believe your method is ok IF you are going to play a single bet...and either double your money or get a 10% rebate on your loss...

In reality, the house advantage accounts for the 1.5 payoff of a blackajack and the times you double/split. So the real calculation is more complex, but the idea is generally the same...

Acme