
Probability and Statistics Basic Probability and Statistics Math Forum 
 LinkBack  Thread Tools  Display Modes 
April 9th, 2018, 05:13 AM  #1 
Newbie Joined: Apr 2018 From: Connecticut Posts: 1 Thanks: 0  $40,000 vs $50,000 at casino problem
Okay so let's see who can figure this one out. Hypothetically, let's say you are going to a casino with a goal to walk out with your original money plus \$30,000. You can either bring \$40,000 or \$50,000 to the blackjack table, where you are a novice card counter, and the chance of winning a hand is exactly 48% of the two different amounts of money to bring, being 40k or 50k which option is seen as less risky and also quicker to get to a \$30k profit. I first thought \$50,000 because you would have an extra \$10,000 that would act as "extra ammo" in a way, but you would also have an extra \$10,000 to make up in case you were down, so I'm not sure. Anyway, it's for a story I am writing, so any and all help is most appreciated. Thank you for reading! Last edited by skipjack; April 9th, 2018 at 06:31 AM. 
April 9th, 2018, 06:34 AM  #2 
Global Moderator Joined: Dec 2006 Posts: 20,386 Thanks: 2012 
How much (in relation to your stake) is paid out when you win a hand?

April 9th, 2018, 04:38 PM  #3 
Senior Member Joined: Oct 2013 From: New York, USA Posts: 637 Thanks: 85 
I assume 2/1 odds, meaning your profit equals your bet. With a 48% chance at winning, 2/1 odds would make the expected payout 96% of what is bet. Having an expected payout a little less than 100% is common.

April 10th, 2018, 02:51 AM  #4 
Global Moderator Joined: Dec 2006 Posts: 20,386 Thanks: 2012 
Yes, but making a \$30,000 profit is then unlikely. Is there a house limit on the amount of each stake?

April 10th, 2018, 03:51 AM  #5  
Math Team Joined: Jan 2015 From: Alabama Posts: 3,264 Thanks: 902  Quote:
 

Tags 
$40, $50, 000, casino, chance, probability, problem 
Thread Tools  
Display Modes  

Similar Threads  
Thread  Thread Starter  Forum  Replies  Last Post 
The casino problem  shunya  Elementary Math  2  December 10th, 2015 03:45 PM 