Latest posts by MintDice (see all)
- 200 Financial Institutions Now Use Ripple XRP - April 16, 2019
- What Is An Initial Exchange Offering (IEO)? - April 10, 2019
- The Only Guide To Cryptocurreny Exchanges You Will Need - April 1, 2019
This article is originally posted at MintDice.com.
For a long time, people have sat around tables in casinos, betting on a game of blackjack. Now that sports betting games have made the crossover into cryptocurrency, it is no surprise that popular card game has become one of the most popular Bitcoin games.
Currently, Bitcoin blackjack accounts for a large portion of all blockchain gambling transactions. Most BTC casinos feature at least one Bitcoin blackjack game and there are numerous ways to play and win. Although blackjack is known as one of the most complex card games, people have been known to win it using specific strategies.
A BRIEF HISTORY OF BLACKJACK
The sole aim of gambling is to take home as much money or betted assets as possible. Blackjack seems to be one of the many ways to achieve this, but where did it come from?
Blackjack originated from an earlier game known as ‘twenty-one.’ When interest for twenty-one began to pick up in the United States, gambling houses started offering players bonuses as incentives to play. One of the most popular bonuses at the time consisted of a ten-to-one earning if a player had the ace of spades and a blackjack (either the jack of spades, or the jack of clubs) in his hand.
A hand consisting of these cards was known as a blackjack, and long after these bonuses ceased to exist gambling houses retained the name. In modern day gambling, a blackjack is a hand that consists of an ace and a ten or face card in any suit or color.
Since it had become a constant presence at gambling houses, blackjack became a subject of mathematical modelling. Mathematicians began asking how they could create models that increased a player’s chances of winning. In 1956, James McDermott, Wilbert Cantey, Herbert Maisel and Roger Baldwin published their research paper titled “The Optimum Strategy in Blackjack in the Journal of the American Statistical Association”. This formed the basis of organized research in the area of blackjack.
Since its creation, the game has evolved from the casino halls to playing with computers on several dedicated websites. Now that people can play such games online, there are no geographical limitations. Anyone can log onto a site and make a lot of money playing blackjack. Owing to the rise of cryptocurrency, betting games have been taken to the next level, excluding fiat payments completely and replacing them with virtual currencies such as Bitcoin.
WHAT IS BITCOIN BLACKJACK?
Bitcoin blackjack is a modern form of the game, one that allows players to place bets and receive earnings in BTC. Some popular Bitcoin casinos that offer this profitable game include BitCasino and MbitCasino. The rules of engagement are not so different from traditional blackjack, but it offers several advantages over it. They are:
- Sites that offer Bitcoin blackjack games are mostly decentralized. This means that the game itself is not controlled by a central authority, and the government cannot control the financial aspect of the game by imposing tariffs and taxes.
- Bitcoin payments can be made anonymously, without giving out any sensitive information. In traditional blackjack, players either take their winnings in cash or wire transfer it to an account controlled by a bank. During the process, the player’s information is exposed.
- The Bitcoin network takes approximately 10 minutes to confirm transactions, so withdrawals are quick and there are no bank delays.
- Players can bet and earn profit from the comfort of their houses, without their identities being revealed.
- Bitcoin blackjack gives players the opportunity to win massive amounts of money.
HOW TO PLAY BITCOIN BLACKJACK
Bitcoin blackjack is complicated, especially for a beginner. Just like anything else, it is possible to get better at it with practice. However, this depends on the player and how much practice is put into it. Almost every game has a strategy, which is basically a roadmap of steps, taken to beat opponents. In the case of Bitcoin blackjack, this basic strategy was formulated using a computer simulation of multiple blackjack hands.
Although these simulations are deeply rooted in mathematics, and may show a user how to better optimize their hand to beat the card dealer, there is no certainty that it will work for every player. Each action a player should take is shown to them in a simple way. For example, a basic strategy may tell a player when to double down or when to split, in order to win the hand.
The best argument for using a basic strategy is the mathematical component behind it. This component will always result in a predictable outcome that cannot be disputed in the long run. This allows players to be sure of their game and gives them a competitive advantage over the house. In fact, using a basic strategy could take the blackjack house edge down to 0.5%, leading to increased profitability.
RULES OF BITCOIN BLACKJACK
The main objective of blackjack is to form the hand closest to 21, without exceeding it. This means getting a closer figure to 21 than the dealer. A player can achieve this by beating the dealer to a 21-point hand using the first two cards in the deck, or simply make it a priority to stay ahead of the dealer while also staying below 21.
After placing a bet, the player is presented with options to choose from, including:
- Hit: This is when the dealer deals the player another card.
- Stand: This is when a dealer stops dealing the player any more cards, and they can play their current hand.
- Split: This is when a player splits each of their cards (which are worth the same number of points), into separate hands.
- Double down: This is when a player doubles the starting bet and is dealt another card.
- Surrender: A player is allowed to give up, and receive half of what they originally bet.
Before spending any money to play Blackjack, users must practise and memorize a strategy. Luckily for all aspiring players, there are free charts and resources online that map out the entire process. Some strategies include:
- Hit or Stand: The purpose of this strategy is to tell a player when it’s an appropriate time to hit or stand at various points throughout the game. Having to make a decision between the two is one of the most common occurrences in blackjack, so it helps to be fully prepared to make the right decision every time.
- Split: This lets a player know when splitting the cards in their hand is the right thing to do. It is common for beginners to do this when it is unnecessary, so it is essential to consult the strategy on this. This way, players may be able to minimize loss of funds.
Bitcoin betting games are continuously taking the brick-and-mortar casinos by storm. They give gambling a new meaning by allowing players to compete for huge profits anonymously. Bitcoin blackjack is no different, offering quick payouts, fair games and the opportunity to play from anywhere in the world. In addition to this, most Bitcoin casinos offer sports welcome bonuses to new players, allowing them to earn cryptocurrency.
Featured image: Pexels