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  #1  
Old 11-25-2005, 10:03 PM
dink dink is offline
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Default 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 ]
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  #2  
Old 11-25-2005, 10:46 PM
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Default Re: 10% refund question

hmmm. i am lazy, but interested in the answer as well.....
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  #3  
Old 11-25-2005, 10:54 PM
Jimbo Jimbo is offline
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Default 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
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  #4  
Old 11-25-2005, 10:54 PM
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Default 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.
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  #5  
Old 11-25-2005, 10:56 PM
Recliner Recliner is offline
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Posts: 38
Default 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.
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  #6  
Old 11-25-2005, 11:00 PM
Benholio Benholio is offline
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Default 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.
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  #7  
Old 11-25-2005, 11:43 PM
dink dink is offline
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Location: Townsville, Australia
Posts: 183
Default 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
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  #8  
Old 11-25-2005, 11:47 PM
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Default Re: 10% refund question

what is a progressive blackjack pot
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  #9  
Old 11-26-2005, 12:11 AM
Bigdaddydvo Bigdaddydvo is offline
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Default 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?
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  #10  
Old 11-27-2005, 09:24 AM
AcmeSalesRep AcmeSalesRep is offline
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Join Date: Aug 2004
Posts: 25
Default 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
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