Monday, July 2, 2007

Blackjack Payout

I was reading about this three 7 of spades Blackjack bonus put out by some casinos...
...Here's the deal. If you get three 7 of spades, they give you $5,000. I know that Blackjack usually has pretty good odds. My question is this... Does this three 7 of spades push the payout into the promised land (over 100%)?

Odds of getting three 7 of spades: 1/(52 x 52 x 52) = 7e-6 (yup, pretty small)
Payout: $5,000

Payout per hand: = payout x chance of getting payout = $5,000 x 7e-6 = 0.035 dollars = 3.5 cents.

This doesn't sound like much, but if you play 25 cent hands, it increases the payout by 14%! This means that the payout becomes over 100% and if you play long enough, you'll come out ahead.

Am I right?

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