Question

Consider a game of blackjack. If you have the transition matrix for the dealer and the players hand what can you do with this information. Is there some kind of formula where you can calculate when to hit or not to hit?

Answer 1

Blackjack is the American version of a popular global banking game known as Twenty-One. It is a comparing card game between one or more players and a dealer, where each player in turn competes against the dealer. Players do not compete against each other. It is played with one or more decks of 52 cards.

Transition matrix only gives the probability that event happened in next step.

By the transition matrix with probability player can hit.

There is no special formula where can calculate to hit or not.