Check out this latest gem by the screenwriter on that page:
"Re: A few Pages of....MONEY FOR NOTHING
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I wanna have a final word also. I think I've finally realized where the gap is in our conversation. You, Augie, says that the casino does not have that big of an advantage at the blackjack. And I disagree.
THE FOLLOWING IS FOR STATISTICS ONLY, NOT MEANT AS A REAL EXAMPLE:
The house has an edge of 1.5% on ever hand of blackjack. Yes. I agree. But nobody just plays one hand and leaves. They usually play for at least a half hour.
So, if you say that there are 50 hands of blackjack dealt in a half hour and the house has an edge of 1.5% on each, then the houses edge on that player through that half hour stretch is: (1.5) to the 50th power, which turns out to be 75%! Which means if you start with a 100 dollars, at the end of the half hour the Casino expects to have 75 dollars in the rack. Now, if that's not a big edge, I don't know what is.
Augie, you are not the know it all in gambling. It sounds like you don't even gamble or ever did. "
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Is this hilarious or what?? First of all, the casino's edge in BJ varies on the rules and the player's strategy. There is no 1 edge. Secondly, once an off the top edge is established, it is not stagnant for every hand. Thirdly, this guy has no concept of basic statistics. You cannot take an edge to the nth power! The edge should be applied to the total action (total hands * average wager) or to each wager and then sum the total wagers.
