The House Edge
The first set of blackjack odds that players should familiarize themselves with is the house edge. This figure states the percentage of the money that the house is likely to take from an individual player. Without any strategy whatsoever, the house edge associated with blackjack can climb to between 7% and 8%. With a great strategy, however, players can reduce this house edge to as little as 0.05%.
Odds of Busting
Many people choose to play blackjack conservatively because they are terrified of going bust, or creating a hand that has a total point value of more than 21. Players who hit on total value of 20 have a 92% chance of busting; players who hit on a point value of 12 have a 31% chance of busting. These percentages rise and fall based upon the hand's point value, so players should keep this in mind when they decide to hit or stand.
Many players forget to consider the dealer's up-card when they decide whether to hit or stand. The dealer has the highest probability of getting a total score of 16 at just over 28%, and many casinos force the dealer to stand on a 16. By comparing this figure to the odds of a dealer getting a blackjack, which rests at 7.36%, players who are very conservative may decide to take their gameplay up a notch.
The odds of winning at blackjack are of great importance, especially to players who are making every effort to develop an effective strategy. Remembering these odds is a great basis for any such strategy.