Blackjack and Popular Casino Game Essay examples

Submitted By Fayefaye3
Words: 583
Pages: 3
Open Document
Dealer’s Absorbing State Probabilities in Blackjack

The game of blackjack (sometimes called “21”) is a popular casino game. The goal is to have a hand with a value of 21 or as close to 21 as possible without exceeding 21. The player and the dealer are each dealt two cards initially. Both the player and the dealer may draw additional cards (called “taking a hit”) in order to improve their hand. If either the player or the dealer takes a hit and the value of the hand exceeds 21, the player or dealer is said to have gone broke and loses. Face cards and tens count 10 points, aces can be counted as 1 or 11, and all other cards count at their face value. The dealer’s advantage is that the player must decide on whether to take a hit first. The player who takes a hit and goes over 21 goes broke and loses, even if the dealer later goes broke. For instance, if the player has 16 and draws any card with a value higher than a 5, the player goes broke and loses. For this reason, players will often decide not to take a hit when the value of their hand is 12 or greater.

The dealer’s hand is dealt with one card up and one card down. So, the player’s decision of whether to take a hit is based on knowledge of the dealer’s up card. A gambling professional asks you to help determine the probability of the ending value of the dealer’s hand given different starting hands. House rules at casinos require that the dealer continues to take a hit until the dealer’s hand reaches a value of 17 or higher. Having just studied Markov processes, you suggest that the dealer’s process of taking hits can be modeled as a Markov process with absorbing states.

Managerial Report

Prepare a report for the professional gambler that summarizes your findings. Include the following:

1. At some casinos, the dealer is required to stay (stop taking hits) when the dealer hand reaches soft or hard 17. A hand of soft 17 is one including an
Show More

Related Documents: Blackjack and Popular Casino Game Essay examples

Ruby Fortune Casino Research

and two types of accounts – the Real Play account and the free Guest Play account – The Ruby Fortune Online Casino, launched in 2003, is one of six casinos to comprise The Palace Group brand. The clean, easy-to-navigate appearance of the site is emphasized with the ruby color scheme and minimalist décor. “A casino gem”, the Ruby Fortune Casino places an emphasize on their four ruby rules of game-play: fair, safe, easy, and fun. Ruby Fortune's four rules are accomplished by boasting some of the best…

Words 669 - Pages 3

The Land of Labor and Luck Essay

good causes and they must not over stimulate demand. (15) Commercial casinos that were first permitted, while heavily regulated to protect citizens, only allowed the wealthy to be patrons. Erving Goffman was a comparitivist, who tried to discover what is general to the human condition and a sociologist that worked behind the tables in casinos. In his…

Words 3005 - Pages 13

Essay about Zynga - the Road Ahead..

Investment Group. Why should you Buy.. The social media game developer will now begin real-money gambling through poker and casino games, months after announcing its partnership with U.K based Bwin Party Digital Entertainment (BPTY.L) The ZyngaPlusPoker and ZyngaPlusCasino applications, launched recently, offer popular games such as Blackjack, Slots and Roulette, which will be made available in the form of Web and Desktop applications. With game stakes as low as £0.01 which will attract volume and…

Words 438 - Pages 2

Essay on Gambling and Following Characteristics

history of the industry, type of product, and stages of production. Gambling in Australia is a common recreational pursuit for many looking for an outlet of stress and the boredom caused by everyday life. An industry once considered synonymous with blackjack and poker has now shifted to meet the consumer demand for easier ways to access the wager market. Because of this, gambling in Australia has seen large increase of consumer expenditure resulting in a large amount interest for those looking to enter…

Words 2832 - Pages 12

The Gambler's Fallacy, the Fallacy of the Maturity of Chances Essay

Gambler's fallacy 1 Gambler's fallacy The Gambler's fallacy, also known as the Monte Carlo fallacy (because its most famous example happened in a Monte Carlo Casino in 1913)[1] . Also referred to as the fallacy of the maturity of chances, which is the belief that if deviations from expected behaviour are observed in repeated independent trials of some random process, future deviations in the opposite direction are then more likely. For example, if a fair coin is tossed repeatedly and tails…

Words 3159 - Pages 13