Here is a question from the Wizard of Odds FAQ:
Why is the house edge for one deck different than for multiple decks? If I'm not counting cards why does the number of decks matter?
The answer has to do with the fact that once a card is played it has an impact on the distribution of the remaining cards. For example the single deck basic strategy calls for standing on two sevens against a ten, with two more decks the player should hit. In the situation with one deck the probability of drawing a third seven on the third card is only 2/49, or 4.08%. With two decks this probability rises to 6/101 or 5.94%. With the lower probability of catching a 3-card 21 in single deck (the only total that can beat a dealer 20) the best play is to stand. The effect of removing a single card increases as the number of decks decreases. The player has the option to hit or stand on a stiff but the dealer must hit once. In other words stiffs hurt the dealer more than the player. Also, with fewer decks more blackjacks are probable, which pays 3-2 to the player but only 1-1 to the dealer.