Know Your Blackjack Odds
To win at blackjack, you have to know the odds. People who are successful at blackjack are able to manipulate the odds in their favor by basing bet sizes and actions on their expectations of what will follow. They base those expectations on the only information available -- the cards they have seen and the composition of the deck.
Basic Odds
When using correct basic strategy, you can get the blackjack odds on a multiple deck blackjack game down to about a .45 percent edge. In other words, you can expect to lose on average 45 cents for every $100 you wager. This does not mean you will lose 45 cents out of every $100 exactly, but over the long term, this is how well you can expect to do.
Failing to use basic blackjack strategy (playing hunches) can result in House edges of five percent or more. Insurance is about a seven percent House edge and you should always avoid it.
Blackjack Odds Variations
Some casinos have changed from a "dealer stands on soft 17" to a "dealer hits soft 17" rule. This change boosts the House edge to about .66 percent. The surrender options, which allow you to give up half your bet and forfeit a hand, provide a considerable advantage when used correctly. They knock the House edge down to around .35 percent for the favorable soft 17 rules and about .55 percent for the less favorable rules.
Things to Know about Blackjack Odds
Blackjack variations that seem to offer more favorable odds may not always be as beneficial as they look. Many blackjack games that offer better odds payouts on things like blackjack and insurance use Spanish decks. These are decks that have the tens (but not the face cards) removed. Since a deck rich in ten-point cards favors the player, this very effectively counters any more favorable odds offered in the game.