Online blackjack games have become very popular over the years. They offer players from around the globe the chance to enjoy playing against each other. The game itself has evolved quite a bit since its inception, however, and today offers unique twists that give rise to some interesting strategies. In addition to offering real cash prizes, these games also offer free spins, bonuses, reload bonuses, etc., which makes them even more enticing.
Strategy and Odds Summary
So, whether you prefer to wager using chips or credit cards online, you’ll want to consider some of the basic strategies you can apply to improve your odds of winning. In this video, we’ll explain how to play online blackjack, and talk about how to calculate the expected value (EV), table limits, and house edge;
The Expected Value
In order for a strategy to be effective, it must beat the EV of any given hand played in the long run. This is simply the average amount won per bet divided by the number of rounds required to break – even on a single wager. For example, if you’re betting $1 per round, then a good strategy would win an average of $2.50/round ($1 x 2 rounds) before breaking even. Conversely, a bad strategy would only win $0.40/round ($1 x 1 round). Therefore, while a casino might offer a $10 no-limit blackjack table with a $3 minimum bet, it’s unlikely you’d see much action at the same time, so the average payout will be far below the theoretical maximum for that table.
Table Limits
You may not realize it, but you actually have two different options when choosing a table limit for online blackjack:
Maximum buy-in
This refers to the highest amount you’ll ever be allowed to risk in one sit. In essence, this means that if you happen to get dealt a hand that pays out less than the maximum buy-in, you won’t be able to make another bet until the first part of your bet clears. If you’re not careful here, you could lose all your money and have nothing left to show for it.
Minimum bet
When referring to the minimum bet, this term is used to describe the smallest amount you can wager on a means of how small the minimum bet is set to be. It doesn’t refer to a max buy-in, as mentioned above, but instead indicates the smallest possible wager you can place without having to wait for the rest of your bet to clear. While this may seem like a minor detail, it can actually mean the difference between making a profit and losing everything.
Obviously, there are no restrictions on how much you can bet, as long as it’s within the table limits, but if you do hit a low-paying hand, you won’t be afforded the opportunity to double down again unless you’ve already cleared the minimum bet.
Overall Benefit-Cost Ratio
That said, there are several advantages to having a higher table limit, including:
More hands
As mentioned above, if you hit a hand that does well enough to cover the maximum bet, you won’t be allowed to place another bet until it clears. You can use this advantage to take advantage of larger bets by playing multiple hands at once.
Less likely to bust
With a lower limit, you’re more likely to bust if you hit a poor hand. When you bust, you lose whatever was in your account as well as any future bets you had placed. However, when you exceed the table limit, you only lose what you had on the line.
More favorable rules
Certain casinos offer bonus features when you reach certain levels of play. These include VIP programs or comp points, which allow you to redeem rewards such as cash back, free tickets to events, and more.
House Edge
Obviously, every player’s goal is to maximize their winnings, and maximizing your profit is ultimately the most important factor in determining whether or not a particular game is worth playing. The house edge is a measure of how likely you are to come up short compared to other players. When you consider that the house edge in blackjack is currently 0.5 percent (plus vig), you can begin to understand why many people find it a little bit difficult to stomach losing even a few dollars a day. That said, it’s still a lot better than some games we’ll discuss later where you can easily lose over 40% of your initial investment!
The Bottom Line
Table limits vary greatly from casino to casino, so it’s important to familiarize yourself with them before beginning a new adventure. This will help you determine whether or not you want to continue playing. For example, if you know you’d rather go home empty-handed than lose $500, then you might want to look into a different strategy. On the flip side, if you enjoy playing blackjack because of the adrenaline rush associated with winning big, then a high table limit is probably right up your alley.