Blackjack is a popular casino card game in which players compete against the dealer. The goal is to get a hand value closer to 21 than the dealer’s without going over. If you beat the dealer’s hand, you win and are paid out your original wager. If the dealer’s hand goes over 21, you lose your bet. If your hand is equal to the dealer’s, you win a “push” and the dealer returns your bet.
The game of blackjack is a good choice for novices because it is more engaging than a slot machine but less complex than poker. However, there are many nuances to this game that novices should be aware of before playing. Some of these nuances include the rules of the game, proper table etiquette, and advanced strategy.
Before the cards are dealt, each player places a bet in their designated area on the table. Once the bets are placed, the dealer deals each player and himself two cards. The players then decide whether to hit or stand. If a player’s first two cards are a pair of 10s or a ten and an ace, they have a blackjack and automatically win the hand. Blackjacks pay 3:2 while all other winning hands pay 1:1.
If the dealer has an ace showing, players may also place a side bet called insurance. This bet is half the size of the player’s initial bet and pays 2-1 if the dealer has blackjack. Taking insurance is not recommended because it gives the dealer an edge over the players.
Once all of the players have made their decisions, the dealer will reveal his hole card and play out his hand. The dealer must continue hitting until he has at least 16 or is forced to stand on a total of 17 or more. If the dealer busts, all players who have not busted also win their bets.
In two experiments, we manipulated participants’ confidence in their knowledge of blackjack strategy and found that unjustified confidence was associated with the psychological variables outcome expectations, anxiety, and risk taking. These effects were strengthened when the unjustified confidence was paired with larger bets (a measure of risk taking) and reduced use of hints designed to improve play (a measure of information search and consideration). These results are consistent with predictions from theory and have implications for educational interventions. The research was conducted with approval from the Wake Forest Institutional Review Board and the researchers received written informed consent from all study participants. The raw data from these experiments will be made available upon request. The authors acknowledge support from the National Science Foundation and the Department of Health and Human Services. This research is part of the NSF-funded Research on Learning in Informal Settings (RLEIS) program.