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Blackjack Tournament Rules
Blackjack Strategy

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The Incredible Loss-Discount:
Beating the Casino at Their Own Game

Strategy used in blackjack tournaments is a whole different ball game than the strategy used in regular table games at the casino. The main difference between the games is the fact that you are not only playing against the dealer to win chips, but also against other players and competitors in the tourney.

Suspicious transactions shall be investigated by Heads Up Blackjack Tournament Strategy the company and, if necessary, a suspicious Heads Up Blackjack Tournament Strategy transaction report will be made by Heads Up Blackjack Tournament Strategy the company to the competent Maltese or UK Authorities (or other appropriate authorities). I have played some Blackjack heads-up tournaments within Game Account software which is used in William Hill and Paddy Power for example. There are also bots you can play against, but they seem to play close to perfect strategy. You'll learn from their playing style what the best strategy is. The strategy to use at Head's up is completely different from other types of tournaments because there are only two players at the table, having a tremendous change in all probability Wizard of Odds has a complete table with all the odds in Tournament head's up if you look closely at this table that summer lows as A2 in this type of tournament to produce some results! Heads-Up Turbo Zoom Tournament Strategy Heads-up Zoom Strategy for +50 Big Blinds Small Blind/Button - Raise First In Chart (+50 Big Blinds)Big Blind.

by Dan Pronovost

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Editor's note:Click here part two of this article onDon Johnson's incredible win, by Dan Pronovost.

Introduction

Dan Pronovost is the owner and president of DeepNet Technologies, makers of a wide range of advantage gambling training products and software for Windows, iPhone and other platforms (blackjack, poker, craps). Their web site is: www.DeepnetTech.com, and most products are available for free trial download.Dan is also the creator of the popular and easy-to-use card counting system Speed Count.

For the last couple of months, the big news in the advantage-gambling world has been Don Johnson, and his amazing high-roller winning streak of over 10 million dollars against three US casinos. This, of course, is big news for the Blackjack Insider, as you can see from the four articles we have about it this month (including this one.)

While I was working with Henry to get this BJI issue ready and reading Alan Krigman’s excellent article about Mr. Johnson’s achievement, I became more curious about the 20% loss-discount that the casinos purportedly offered him. On the surface, it would seem that if you are playing any casino game where the house has an edge over you, then it doesn’t matter if they offer you some money back on your losses: you’re still losing money in the long run.

However, the amazing thing is… you can beat the casino in a game where they have an edge, simply by taking advantage of their loss-discount offer! This article explores this concept more closely; explaining it both in layman and in detailed technical terms, why this is true, and how to take advantage of it.

Why loss discounts are a winning method

To understand how this can be true, let’s begin with what a loss-discount means in practice.

Casinos love whales, which is what they call their players who bet massive amounts of money at the tables. These gamblers make $10,000 bets, or higher, on every wager, and often end up losing millions in the long run. Suppose a player is betting, on average, $50,000 per hand, and makes fifty wagers an hour at a game where the casino has a 0.5% edge over the player (which is typical of blackjack games played perfectly). In theory, the casino is earning 50 * $50,000 * .005 = $12,500 every hour that the player plays. Mr. Johnson claims his average bet size was $100,000, and he was playing heads-up blackjack where over 100 hands per hour is quite common.Therefore, the casino’s theoretical profit every hour that Mr. Johnson plays is $50,000.

To entice such whales to their casinos, it is not uncommon to offer them all kinds of high-roller perks. While room suites, food, and airfare reimbursement are common perks for high rollers, savvy high rollers can ask for, and often receive, an agreement to get back part of their losses. If, and when, they wind up losing money at the end of their trip or playing session, they will get some percentage of their losses credited back to them, so they owe the casino less money (but they keep all their winnings if they end up ahead). Mr. Johnson claims he managed to get a 20% loss-discount for his action. Our casino insiders say that this is extraordinarily high and rare, but not unheard of, given the size of his action at the tables. Furthermore, Mr. Johnson was probably not card counting, or was otherwise playing in a manner where the casino was certain they had a good and healthy base advantage over him at the tables.

So, how can a loss-discount possibly be used to get an edge over the casino? The trick comes from understanding that the casino applies the loss discount after a certain amount of time or wagers, not after every wager. When they choose to apply the loss-discount, and which casino games you play, make all the difference in the world for getting an edge. Generally, you want the casino to apply the loss discount after the fewest number of wagers possible.

To understand why this works, let’s review the example that Mr. Krigman usedin his article with roulette. Suppose you are playing double zero roulette and bet on a column (12/38 chance of winning, getting double your money back), and the casino offers you a 20% loss-discount. Normally, your edge in this game is the probability of winning times the amount you will win minus the probability of losing times the amount wagered. In the above roulette example, the math is 12/38 * 2 – 26/38 * 1 = -5.26%. In other words, the casino will make, on average, a 5.26% profit from every such wager you make.

Now, suppose you make one such bet, but you get th