1. What is Expected Value in Blackjack?

Expected Value (EV) in blackjack represents the average amount a player can expect to win or lose per bet over time. A positive EV indicates a favorable situation for the player, while negative EV favors the house.

2. How Does the Calculator Work?

The calculator uses the Expected Value formula:

Where:

• \( Probability\ of\ outcome \) — Chance of a particular outcome occurring (0 to 1)
• \( Payout\ for\ outcome \) — Amount won for that outcome ($)
• \( Bet \) — Original wager amount ($)

Explanation: The equation sums the probability-weighted payouts of all possible outcomes and subtracts the original bet to determine the expected value.

3. Importance of EV Calculation

Details: Calculating EV helps players make optimal decisions in blackjack by quantifying the long-term value of different plays (hit, stand, double, etc.).

4. Using the Calculator

Tips: Enter probabilities (as decimals between 0 and 1), corresponding payouts, and your bet amount. You can calculate for 1 or 2 outcomes (leave second outcome blank if not needed).

5. Frequently Asked Questions (FAQ)

Q1: What does a positive EV mean?
A: A positive EV indicates a play that will be profitable in the long run. In blackjack, this typically only occurs when counting cards.

Q2: How accurate is EV calculation?
A: EV calculations are mathematically precise but depend on accurate probability estimates. They represent long-term averages, not short-term results.

Q3: Can EV help with basic strategy?
A: Yes, basic strategy is derived from EV calculations that determine which play has the highest expected value for each hand.

Q4: What's the house edge in blackjack?
A: With perfect basic strategy, the house edge is typically 0.5% or less, meaning the EV for the player is -$0.50 per $100 bet.

Q5: How does card counting affect EV?
A: Card counting can shift the EV in the player's favor by identifying when the remaining deck is rich in high-value cards.