Several books teach blackjack players the basic strategy, which increases the probability of winning any hand to

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Several books teach blackjack players the “basic strategy,” which increases the probability of winning any hand to 50%. Repeat Exercise, assuming the player plays the basic strategy.

In Exercise, in the game of blackjack as played in casinos in Las Vegas, Atlantic City, and Niagara Falls, as well as in many other cities, the dealer has the advantage. Most players do not play very well. As a result, the probability that the average player wins a hand is about 45%. Find the probability that an average player wins.

a. Twice in 5 hands

b. Ten or more times in 25 hands


Dealer
A dealer in the securities market is an individual or firm who stands ready and willing to buy a security for its own account (at its bid price) or sell from its own account (at its ask price). A dealer seeks to profit from the spread between the...
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