This was the last hand of the shoe (in the game from spain with no ten's, only faces), and the TC was +7. I had 2 hands of my max, and I got a 14 and a 13 vs a 10 upcard. I signaled to surrender my 14, but the dealer thought I had wanted to hit, so accidentally pulled a jack out of the shoe. I said that I had wanted to surrender, and she said sorry and let me surrender. So the jack would have gone to either my 13 or as her hit card.
This is what I thought, and what I did, and I don't actually know if it was correct. So obviously I couldn't hit, or I would have busted. Therefore, my options were to stand or surrender. If her hole card was a 2-6, I would have won (since she would take a hit and bust). If her hole card was 7, 8, 9, J, Q, K, I would have lost. Since the TC was +7, I figured there was a lower chance of her having a 2-6. In addition, the 0 variance of surrender appealed to me with a max bet out. So I surrendered. Now I don't know if it was correct.
****************************
Time to do some math.
Maximizing EV:
Surrendering
EV(surrender) = -0.50
Standing
X = P(win) = P(2) + P(3) + P(4) + P(5) + P(6)
P(lose) = P(7) + P(8) + P(9) + P(J) + P(Q) + P(K)
P(win) + P(lose) = 1
EV(stand) = P(win) - P(lose) = X - (1 - X) = 2X - 1
EV(stand) >? EV(surrender)
2X - 1 > -0.5
2X > 0.5
X > .25
So if P(win) > 0.25, I should have stood.
With a TC of +7 was P(2) + P(3) + P(4) + P(5) + P(6) greater than 0.25? Probably... I suppose I should have stood.
Using Variance:
Var(surrender) = 0.0
Var(stand) = P(win) * (1 - EV(stand))^2 + P(lose) * (-1 - EV(stand))^2
Var(stand) = P(win) * (1 - P(win) + P(lose))^2 + P(lose) * (-1 - P(win) + P(lose))^2
Var(stand) = X * (1 - X + (1-X) )^2 + (1-X) * (-1 - X + (1-X) )^2
Var(stand) = X * (1 - X + (1-X) )^2 + (1-X) * (-1 - X + (1-X) )^2
Var(stand) = 4X * (1 - X)
Var(stand) = 4 * P(win) * P(lose)
So we have:
Standing: EV = P(win) - P(lose), Var = 4 * P(win) * P(lose)
Surrendering: EV = -0.50, Var = 0.0
With a TC of +7, I suppose I need to calculate P(win) for a bunch of different TC +7 shoes, and see what the median P(win) is or something, right?
This is what I thought, and what I did, and I don't actually know if it was correct. So obviously I couldn't hit, or I would have busted. Therefore, my options were to stand or surrender. If her hole card was a 2-6, I would have won (since she would take a hit and bust). If her hole card was 7, 8, 9, J, Q, K, I would have lost. Since the TC was +7, I figured there was a lower chance of her having a 2-6. In addition, the 0 variance of surrender appealed to me with a max bet out. So I surrendered. Now I don't know if it was correct.
****************************
Time to do some math.
Maximizing EV:
Surrendering
EV(surrender) = -0.50
Standing
X = P(win) = P(2) + P(3) + P(4) + P(5) + P(6)
P(lose) = P(7) + P(8) + P(9) + P(J) + P(Q) + P(K)
P(win) + P(lose) = 1
EV(stand) = P(win) - P(lose) = X - (1 - X) = 2X - 1
EV(stand) >? EV(surrender)
2X - 1 > -0.5
2X > 0.5
X > .25
So if P(win) > 0.25, I should have stood.
With a TC of +7 was P(2) + P(3) + P(4) + P(5) + P(6) greater than 0.25? Probably... I suppose I should have stood.
Using Variance:
Var(surrender) = 0.0
Var(stand) = P(win) * (1 - EV(stand))^2 + P(lose) * (-1 - EV(stand))^2
Var(stand) = P(win) * (1 - P(win) + P(lose))^2 + P(lose) * (-1 - P(win) + P(lose))^2
Var(stand) = X * (1 - X + (1-X) )^2 + (1-X) * (-1 - X + (1-X) )^2
Var(stand) = X * (1 - X + (1-X) )^2 + (1-X) * (-1 - X + (1-X) )^2
Var(stand) = 4X * (1 - X)
Var(stand) = 4 * P(win) * P(lose)
So we have:
Standing: EV = P(win) - P(lose), Var = 4 * P(win) * P(lose)
Surrendering: EV = -0.50, Var = 0.0
With a TC of +7, I suppose I need to calculate P(win) for a bunch of different TC +7 shoes, and see what the median P(win) is or something, right?