The Economics of Everyday Things
30. Card Counting
Jan 1, 2024
Former professional card counter, Ben, and Bill Zender, co-founder of a casino consulting firm, discuss the concept of card counting in casinos. They explore the perception of card counting as a threat and the drastic measures taken by casinos. The podcast also delves into the strategies and countermeasures of card counting, as well as the challenges faced by card counters.
18:50
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Quick takeaways
- Blackjack has a lower House Edge of around 2%, making it possible for skilled players to gain an edge over the casino.
- Casinos have implemented measures to combat card counting, but these tactics not only deter card counters, but also slow down the game and impact the overall gambling experience.
Deep dives
The House Edge and Casino Games
In casinos, the house always has an advantage due to the house edge, which is the percentage of a bet that a player is expected to lose over time. The House Edge varies for different games, such as 5.26% for roulette and 5-15% for slot machines. However, Blackjack has a lower House Edge of around 2%. This slim margin means that if a player can find a small advantage, they can potentially come out ahead.
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