Scary math problem help

S

Splittingten's

Banned
#1
#1
A friend of mine offered to let me use his room floor thanks giving. He said he could set up a blackjack table for me to play and he said he could bring me customers. He said he could get 800 to 1500 dollars in the door. He estimated that I could get 6 hours of gambling in. The game I would be hosting is blackjack, a bad game, single or double deck that pays even money on BJ and on top of that the room will be filled with gamble like players who will splitt tens and make BS errors. My edge against the average player is probably about 5%. My fIrend wants a % of my profits. What % would be too much? We were thinking about 20% of the profits. What would be the optimal percentage of profits I should be willing to share?
Some details : Min 1 dollar, max ? Maybe 50
Bank roll :400 (possible repleneshable)
I have experience running these types of games so the actual execution outside of game theory shouldn't be a problem.
 
M

Meistro

Well-Known Member
#2
#2
make him put up part of the bankroll as well. with only 5% edge and $400 bankroll you can't afford to take $50 bets. You should set the max bet at $20. Get him to put up $500 and give him 30%.
 
D

DSchles

Well-Known Member
#5
#5
First of all, of course it is illegal. Second of all, taking $50 bets with a bankroll of $400 is the definition of insanity. It's a bad idea from every conceivable angle I can think of.

Don
 
M

Meistro

Well-Known Member
#7
#7
I think 5% edge even with blackjack pays even money is optimistic, although I guess with some preferential shuffling it might be possible.
 
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