Repercussion of Monty Hall problem!!!
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Just wanted to start a NEW thread as this is important.
Remember when you go casino, when you play blackjack, and the BANKER has an ACE, you can buy insurance.
So using the results of the Monty Hall problem, is it always better to BUY insurance?
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Really? I didn't realise that.
How does the insurance work? -
i nvr play at casino before...can explain the how the system works?
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okok, when you play blackjack, and the banker got an ACE, the players can opt to buy insurance, in the event when the banker get blackjack.
Cuz when the banker gets blackjack, all players will lose by default. -
The blackjack table seats about 6 players. Either six or eight decks of cards are used and are shuffled together by the dealer and placed in a card dispensing box called 'Shoe'.
Before receiving any cards players must place a wager. Then the players are dealt two cards face up. The dealer gets one face up, one face down. Each player in turn either stays or takes more cards to try and get closer to 21 without busting. Players who do not bust wait for the dealer's turn. When all the players are done, the dealer turns up the down card. By rule, on counts of 17 or higher the dealer must stay; on counts of 16 or lower the dealer must draw.
If you make a total of 21 with the first two cards (a 10 or a face and an Ace), you win automatically. This is called 'Blackjack'. If you have Blackjack, you will win one and one-half times your bet unless the dealer also has Blackjack, in which case it is a Push or a Tie (or a Stand-off) and you get your bet back.
The remaining players with a higher count than the dealer win an amount equal to their bet. Players with a lower count than the dealer lose their bet. If the dealer busts, all the remaining players win. There are other betting options namely Insurance, Surrender, Double Down, Even Money and Split.
Insurance: side bet up to half the initial bet against the dealer having a natural 21 - allowed only when the dealer's showing card is an Ace. If the dealer has a 10 face down and makes a blackjack, insurance pays at 2-1 odds, but loses if the dealer does not. Surrender: giving up your hand and lose only half the bet.
Early Surrender: surrender allowed before the dealer checks for blackjack.
Late Surrender: the dealer first checks to see if he has blackjack. If he does, surrender is not permitted.
Double Down: double your initial bet following the initial two-card deal, but you can hit one card only. A good bet if the player is in a strong situation.
Even Money: cashing in your bet immediately at a 1:1 payout ratio when you are dealt a natural blackjack and the dealer's showing card is an Ace.
Split Hand: split the initial two-card hand into two and play them separately - allowed only when the two first cards are of equal value. Use each card as the start to a separate hand and place a second bet equal to the first.
Hard Hand: A hand without an Ace, or with an Ace valued at 1 is said to be Hard in that it can only be given one value, unlike a Soft Hand. (You can value an Ace 1 or 11 to suit you).
Soft Hand: A hand that contains an Ace counted as 11 is called a Soft Hand. -
The blackjack table seats about 6 players. Either six or eight decks of cards are used and are shuffled together by the dealer and placed in a card dispensing box called 'Shoe'.
Before receiving any cards players must place a wager. Then the players are dealt two cards face up. The dealer gets one face up, one face down. Each player in turn either stays or takes more cards to try and get closer to 21 without busting. Players who do not bust wait for the dealer's turn. When all the players are done, the dealer turns up the down card. By rule, on counts of 17 or higher the dealer must stay; on counts of 16 or lower the dealer must draw.
If you make a total of 21 with the first two cards (a 10 or a face and an Ace), you win automatically. This is called 'Blackjack'. If you have Blackjack, you will win one and one-half times your bet unless the dealer also has Blackjack, in which case it is a Push or a Tie (or a Stand-off) and you get your bet back.
The remaining players with a higher count than the dealer win an amount equal to their bet. Players with a lower count than the dealer lose their bet. If the dealer busts, all the remaining players win. There are other betting options namely Insurance, Surrender, Double Down, Even Money and Split.
Insurance: side bet up to half the initial bet against the dealer having a natural 21 - allowed only when the dealer's showing card is an Ace. If the dealer has a 10 face down and makes a blackjack, insurance pays at 2-1 odds, but loses if the dealer does not. Surrender: giving up your hand and lose only half the bet.
Early Surrender: surrender allowed before the dealer checks for blackjack.
Late Surrender: the dealer first checks to see if he has blackjack. If he does, surrender is not permitted.
Double Down: double your initial bet following the initial two-card deal, but you can hit one card only. A good bet if the player is in a strong situation.
Even Money: cashing in your bet immediately at a 1:1 payout ratio when you are dealt a natural blackjack and the dealer's showing card is an Ace.
Split Hand: split the initial two-card hand into two and play them separately - allowed only when the two first cards are of equal value. Use each card as the start to a separate hand and place a second bet equal to the first.
Hard Hand: A hand without an Ace, or with an Ace valued at 1 is said to be Hard in that it can only be given one value, unlike a Soft Hand. (You can value an Ace 1 or 11 to suit you).
Soft Hand: A hand that contains an Ace counted as 11 is called a Soft Hand.