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How Long Can You Enjoy Blackjack With 100 Chips?

Author

Listed:
  • 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)

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.

Suggested Citation

  • Tao Yang & Qianqian Li & Xingang Xia & Erbo Zhao & Guo Liu & Zhangang Han, 2011. "How Long Can You Enjoy Blackjack With 100 Chips?," International Journal of Modern Physics C (IJMPC), World Scientific Publishing Co. Pte. Ltd., vol. 22(10), pages 1161-1171.
    • Handle: RePEc:wsi:ijmpcx:v:22:y:2011:i:10:n:s0129183111016804
    DOI: 10.1142/S0129183111016804
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    References listed on IDEAS

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    1. Marcel Ausloos, 2006. "Econophysics of Stock and Foreign Currency Exchange Markets," Papers physics/0606012, arXiv.org.
    2. Abhijit Kar Gupta, 2005. "Role of Selective Interaction in Wealth Distribution," Papers physics/0509172, arXiv.org.
    Full references (including those not matched with items on IDEAS)

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