About the game
Blackjack has been the study of statistical analysis for a long time. Casinos offer this form of gambling (and all other forms of gambling) because the odds are tipped in the house’s favor. But what if the odds could be tipped in the player’s favor? We all want to be able to swindle big casinos for a bit of extra cash. So, is it possible?
You have probably seen the game played in movies like 21, The Hangover and Rain Man, but you probably haven't stepped in the casino yourself. If so, we would like to give you a quick overview of the rules of the game. They are pretty simple: get cards that are closer to 21 than the dealer, without going over. The steps are as follows:
#1 Place your bet.
Tables generally have a minimum bet and a maximum bet. You can bet anything in between these two values. Once the cards are dealt, you cannot change your initial bet, so choose wisely.
#2 Cards are dealt.
The dealer deals two cards to everyone sitting at the table, including himself. Each of the players' cards are dealt facing upwards, while the dealer has one card facing up and the other facing down. Each card has a value. Generally, a card's value is its number. Face cards have a value of 10 and aces can have two values: either 1 or 11.
#3 Make your move.
Based on your two cards and the dealer's one upcard, make a decision about what you want to do. You can choose to do any of the following in the proper circumstance.
The dealer will deal you one more card. After you take a hit, you can then choose to take another hit or stand.
If you stand, you do not get any additional cards. The hand you currently have is the hand you keep.
You can choose to match your bet (so it is double what you started with) and you will receive a single card.
If you have two of the same card in your hand, you can match your bet. Your hand will be split into two separate hands, which you then play.
Continue to play until your hand is over. It can be over by you deciding to stand, not being able to make any more moves (if you decide to double), or if you bust by getting a total higher than 21.
#4 Dealer makes his move.
Once all players are finished playing their hand, the dealer can play his own hand. Dealers play by a set system of rules, so their play is rather predictable. For hands less than 17, a dealer takes a hit. For hands greater than or equal to 17, a dealer stays.
#5 Players are paid out.
Once play has completed, the dealer pays any winners and takes the bets of any losers. In the event that you bust, you lose your bet. In the event that you did not bust, but the dealer did, you win and the dealer pays you your bet. In the event that neither busted, the player wins if she has a higher total and loses if she has a lower total. When both player and dealer have the same total, the player pushes and neither wins nor loses her bet.
About our project
When we started out, we wanted to discovered the best way to play blackjack through (1) a basic strategy and (2) a card counting strategy. The basic strategy would inform what moves we make while playing a hand while the card counting strategy would inform how we bet. We decided to approach both of these questions by simulating our own data. While we largely stuck to this approach throughout the project, we did attempt other approaches to analyzing blackjack data. We quickly found that real-life blackjack data through casino play is not entirely readily available. The data is either not released by casinos or it is only available at a price. Therefore, we decided to move ahead with our own simulations.
In working on this project, we wanted to learn as much about blackjack strategy as possible. In doing so, we analyzed the widely-held beliefs about blackjack strategy as well as found out for ourselves the best way to approach the game. The benefits of tackling this project have real world consequences. We are able to determine a strategy that can be used in a casino. Furthermore, we can learn which card counting strategy is the best to use in combination with our basic playing strategy.