I decided to start a new thread since the old one is running off the page.
I worked out a formula for the loss rebate problem. You mentioned your "approximate simulation" to MONKEY's problem. Could you tell me what was simulated, exactly, so I can compare my results to yours? Did you:
A) Sim actual blackjack hands with the stipulated rules
B) Sim a coin toss with an even payoff, but biased to lose with p=0.497
C) Sim a fair coin toss, but with unequal payoffs resulting in EV = -0.006, or
D) Something else?
Thanks in advance,