Blackjack Betting Systems and Strategies: The Mathematics Behind the Game

Abstract

The game of Blackjack, also called Twenty-One, has changed significantly since Edward Thorp wrote his famous book Beat the Dealer in the 1960’s. Prior to the publication of this book, Blackjack players gave a huge advantage to the casino. Thorp’s book allowed even the casual gambler to employ a method which did not require advanced mathematical knowledge. This method, known as Basic Strategy, formalized a decision-making routine by which the house advantage was significantly reduced, if not turned to the player’s advantage [1]. Ever since Blackjack has been offered at casinos, players have attempted to employ strategies to gain an advantage, but Thorp’s system actually works because of its strong mathematical foundation. Thorp developed his method by running computer simulations and determining the optimal decision based on the current known information.