How Is EV Calculated in Blackjack?

In blackjack, the expected value (EV) is the average amount of money that a player can expect to win or lose per unit of time when making a particular play. The EV is calculated by taking all possible outcomes of a play and multiplying them by their respective probabilities.

The EV can be positive or negative, depending on whether the player has the advantage or disadvantage in the given situation.

For example, consider a player who is dealt a hand with a probability of winning of 40%. If the player bets $100 on this hand, their expected value would be $40 – they would expect to win $40 on average over the long run.

If the player bets $200 on this hand, their expected value would be -$60 – they would expect to lose $60 on average over the long run.

The EV is an important concept in blackjack because it can help players make decisions about how to play their hands. If a player knows that their EV for a particular play is positive, then they know that they have an advantage in the situation and should make the play.

If the EV is negative, then the player knows that they have a disadvantage and should avoid that play.

There are many factors that can affect a blackjack hand’s EV, including the number of decks in use, the dealer’s upcard, and whether the player has the option to double down or split. A skilled blackjack player will take all of these factors into account when making their decisions, as well as their own personal preferences, in order to choose plays with a positive EV.

The EV can also be used to calculate a blackjack hand’s house edge – this is simply the percentage of time that the house can expect to win based on the EV of all possible plays. For example, if a blackjack hand has an EV of -$5, then the house edge would be 5%.

This means that for every $100 bet on this hand, the casino can expect to make an average profit of $5.

In conclusion, calculating the expected value (EV) is an important tool for making decisions in blackjack. The EV can help players determine which plays are advantageous and which ones are not.

It can also be used to calculate a hand’s house edge.