Lucky Ladies UNDRESSED...part I
After looking over PR's essay once again, I *think* I figured out what the SD figures he gives are for, not the actual Standard Deviation of the hand, but the SD of the hand's Expectation. In my opinion (I very well could be wrong), Standard Error would've been the more appropriate term.
While digging around for some more info on the topic I came across this post by Coug Fan, at bj21:
Panama Rick posted this on the free (beginner) page on 5/14/02 in response to my question on the same subject:
"The expected values for the various payouts are (6 decks):
Any 20 = 0.4007
Suited 20 (same suit) = 0.2078
Matched 20 (e.g. 2 jacks of spades) = 0.0928
2 Queens of hearts = 0.0371
2 Queens of hearts with a dealer blackjack = 0.0146
Total = 0.7529
House Edge = 24.71% "
There really is no point in knowing the individual expected value for each payout, because its not as if we can pick and choose which jackpot we want to go for like with some other wagers (ie. craps). Also, I believe PR's use of the combined Expectation of payouts to deduce the house edge to be flawed. According to my calculations:
_Dealt__Payout__Frequency (in %)____Odds____Expectation_
2QH&BJ__1001____0.00146406_____1 in 68,303__.0146552406
_2QH_____125____0.03091763______1 in 3,234__.0386470437
Suit&Rank_19_____0.49468216_______1 in 809___.0939896115
Suited 20___9_____2.57234726________1 in 39___.2315112537
_Any 20____4____10.07000000*_______1 in 10___.4280000000
All Other___-1____86.83058888_______1 in 1.15__-.8683058888
*figure is taken from Wong's PBJ Table D3 due to discrepencies between calculated frequencies of two Ten card hands, and simulation results (see PBJ pages 292-3 for more info). All other frequencies and ev's calculated using basic probability equations.
Now we know the total Expectation is the sum of the Expectations of each and every payout, so we add the right-hand column which totals -.0615027392, so we can deduce that the House Edge on the Lucky Ladies sidebet is -6.15%. In PR's hypo above, he fails to include the negative payouts of non-twenty hands, which alters the outcome drastically (also many of my numbers vary slightly, perhaps someone knows if he calculated these or simmed them?)
So to calculate our total Expectation if wagering only in advantageous situations, with perfect play (no Standard Error), we would sum the right-hand column EXCEPT for the last entry (All Other), which totals to .80680314961, an Expectation of +80.68%. Now remember, we would only see this advantage 1.23% of the time, so we could calculate an overall Expectation of 80.68% * 1.23% = +.992364% with perfect play. This obviously represents the upper limits for this sidebet, and shows us it is impossible to reach a 1% overall advantage.
Now, again let's see what can be gained in real-world play (w/ a high Standard Error). From Panama Rick's essay (TC = true count, ev = expected value, n = # of hands, f = frequency, SE = standard error):
__TC_______ev________n_________f_____SE__
__6.5_____0.50%___797,833____0.38%___13%
__7.0_____2.72%___578,783____0.25%___13%
__7.5_____4.91%___417,682____0.18%___13%
__8.0_____7.08%___313,499____0.13%___14%
__8.5_____9.27%___221,484____0.09%___14%
__9.0____11.57%___170,614____0.07%___15%
__9.5____13.93%___105,475____0.05%___15%
_10.0____16.24%____84,955____0.04%___15%
_10.5____18.73%____60,349____0.03%___16%
_11.0____21.26%____41,676____0.02%___16%
_11.5____23.71%____26,872____0.01%___17%
_12.0____26.24%____19,184____0.01%___17%
_12.5____28.61%____13,330____0.01%___17%
Again, by summing the products of the ev and frequency of each favorable TC (multiply each TC's ev & frequency, then add all together) we get the overall Expectation (or ev) for the sidebet when a wager is placed only when favorable, +.074172%.
As we stated before, this figure would be substantially higher when wonging, only partly due to more frequent higher counts, but more noticably because the ratio of advantageous situations to hands played would be significantly reduced by only playing in positive counts (because of less hands played). Now as noted before, the increase would not be proportional to the decrease in hands played because of other factors involved. This +.074% edge is not really a "fair" figure, since these days, anybody-who's-anybody is Wonging out (?Schlesingering?) by at least a TC of -5.
First we'll examine the case of Wonging out at a TC of -1. We can see from PR's chart that we will be playing 68.34% of the time with this methodology (4.5/6 pen). Now to determine the percentage of advantageous hands (still speaking of the sidebet), out of played hands, we must divide each TC's frequency by 68.34%. The product of this frequency, and its TC's ev, will be our overall Expectation.
continued...
ANS