WHY PLAYING MULTIPLE SPOTS IS
DIFFERENT THAN PLAYING ONE SPOT
By Alan Krigman
Alan Krigman, and his poetic sidekick Sumner A. Ingmark, have been illuminating the dark recesses of casino gambling for more than a dozen years. Mr. Krigman is especially well known for sharing his insights into the mathematics underlying the various games (including blackjack), the influence of volatility and skewness as well as edge on bankroll during the course of a session, and the impact of betting as well as decision strategies on expected performance. An archive of Mr. Krigman's prose and Mr. Ingmark's muse is online athttp://krigman.casinocitytimes.com/archives/.
Blackjack buffs who wager on multiple spots experience the game differently from players who bet on single hands. With the same total exposure, the erosive effect of the edge on each round does not change; rather it is the volatility that varies. Technically, volatility is measured by a statistical quantity called "standard deviation." Picture this intuitively as a kind of average by which a bankroll goes up or down as the result of every decision.
Pretend you are flipping coins, heads wins $2, and tails loses $2. With this rule neither you nor your opponent have an edge and your fortune grows or shrinks by $2 per flip. (The standard deviation is $2.) Instead, say you and a partner play separately in the same round, betting $1 each. The same $2 total is up for grabs on every round. One out of the four possible combined outcomes wins $2, one loses $2, and two break even. The average bankroll jump and the standard deviation are now $1. Over time, you will, therefore, normally be ahead or behind by less than you would with the same number of single $2 flips.
The plot thickens when multiple bets are not independent. For example...
...enter your member login information below to read this article/newsletter...
Paid Members-Only Article
You have clicked on a link to a Blackjack Insider web page or article for paid subscribers. You must have a paid membership to the Blackjack Insider newsletter to view this content. About 1/2 of the articles in each issue of the Blackjack Insider are for paid members only, while the rest are viewable by everyone. Your purchased membership will allow you to read all Blackjack Insider articles for 12 months.
Enter your user name and password below (they were listed and e-mailed to you after you purchased your Blackjack Insider membership):
Forgot your membership id or password? Click here.
How do I get a membership?
A membership can be purchased online at our secure store with your credit card for only $19.95 per year. You will receive a user name and password immediately by e-mail which you can use to read the all past and future members-only articles for 12 months, as well as the regular free articles.
Do I have to buy a membership?
No. Blackjack Insider will continue to be published as a free monthly e-newsletter. But about 1/2 of the articles each month will be for paid members only. Subscribers without a membership can still view and read the non-members articles for free.
What happens after I buy a membership?
Immediately after you complete your purchase, you will receive a unique login user name and password. These are displayed on the final purchase page, and are e-mailed to you. When you click on a members-only article in our web site, you will be prompted for this user name and password (as shown above). Simply enter them, and enjoy the article! Note: make sure you turn on the checkbox above when you login, to save the user name and password so that you don't have to re-enter them every time you view members-only articles.
Why did you switch to paid memberships?
Blackjack Insider is a professional monthly publication with top-notch articles by world-reknown gaming experts. In addition, we have regular reporters that monitor game conditions and tournament schedules throughout North America. We use a partially paid subscriber model to enable us to continue getting the best content for our readers from leading authors on blackjack and gaming.
©2015, DeepNet Technologies. No material to be copied without express permission of DeepNet Technologies.