HOW LONG CAN YOU ENJOY BLACKJACK WITH 100 CHIPS?

Tao Yang, Qianqian Li, Xingang Xia, Erbo Zhao, Guo Liu and Zhangang Han ()
Additional contact information
Tao Yang: Department of Systems Science, Beijing Normal University, Beijing 100875, P. R. China
Qianqian Li: Department of Systems Science, Beijing Normal University, Beijing 100875, P. R. China
Xingang Xia: Department of Systems Science, Beijing Normal University, Beijing 100875, P. R. China
Erbo Zhao: Department of Systems Science, Beijing Normal University, Beijing 100875, P. R. China
Guo Liu: Department of Systems Science, Beijing Normal University, Beijing 100875, P. R. China
Zhangang Han: Department of Systems Science, Beijing Normal University, Beijing 100875, P. R. China

International Journal of Modern Physics C (IJMPC), 2011, vol. 22, issue 10, 1161-1171

Abstract: Gambling-related research has implications in financial area understandings and applications. Researches in this area usually focus on pathology, risk-taking, decision-making and addiction. Few works have been done to demonstrate the distribution of the playing time before players go bankrupt. One problem is that it is difficult to get statistics in real world gambling. In this paper, we do simulations in a Blackjack game with a selected strategy. We find the distribution of playing time before players lose a certain amount of money as a power law distribution, indicating the existence of very long playing time players. We also find that double is the most important factor that causes the fat tail. Comparison shows that when removing double, split and three to two payoff, Blackjack goes back to a random walk. The increase of the number of decks somewhat decreases the average playing time. Our results may have pathologic gambling intervention implications.

Keywords: Gambling; stop time; power law distribution; Blackjack; 89.70.Eg (search for similar items in EconPapers)
Date: 2011
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://www.worldscientific.com/doi/abs/10.1142/S0129183111016804
Access to full text is restricted to subscribers

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:wsi:ijmpcx:v:22:y:2011:i:10:n:s0129183111016804

Ordering information: This journal article can be ordered from

DOI: 10.1142/S0129183111016804

Access Statistics for this article

International Journal of Modern Physics C (IJMPC) is currently edited by H. J. Herrmann

More articles in International Journal of Modern Physics C (IJMPC) from World Scientific Publishing Co. Pte. Ltd.
Bibliographic data for series maintained by Tai Tone Lim ().