When the two decks of cards are exhausted, the player’s running total winnings/losses for all hands played with the two decks of cards are saved. Hands will be played until all cards from the two decks have been used. The game will start using two decks of cards.
If a hand results in a tie between the player and the dealer, no money is either won or lost. A loss of a hand will result in the player losing the entirety of their $2 bet. We are told that in addition to the basic rules of Blackjack, the simulation must adhere to the following requirements:īets of $2 will be placed on each hand by the “player”, with no limit on the number of $2 bets that can be placed.Ī win of a hand will earn the player $2 above and beyond their initial $2 bet. Project 1 in Chapter 5.3 asks us to construct a Monte Carlo simulation of the card game called Blackjack. NOTE: The R code used for Blackjack simulation can be found in the attached Appendix. The requirements for this Monte Carlo simulation are taken from Giordano, Fox, & Horton, “A First Course in Mathematical Modeling”, Fifth Edition, Cengage Learning, 2013: Chapter 5.3, page 199, Project 1.
Blackjack Simulation via Monte Carlo Methods James Topor December 16, 2016
