I wonder if anyone can help me better understand the concept of "volatility" in games of chance.
For example: in the recent Caribbean 21 debacle, several news reports described the game as being "highly volatile", making it possible for someone to win (albeit at odds unlikely to be repeated too often) a million big ones.
Knowing the optimum strategy for standard Blackjack, and having studied the rules for Caribbean 21, I can't see that there is a great difference between them. One is slightly more favourable to the casion than the other, but why is Carib21 more "volatile"?
Biography: I have never played in a casino. I'm more interested in games of chance in general.
For example: in the recent Caribbean 21 debacle, several news reports described the game as being "highly volatile", making it possible for someone to win (albeit at odds unlikely to be repeated too often) a million big ones.
Knowing the optimum strategy for standard Blackjack, and having studied the rules for Caribbean 21, I can't see that there is a great difference between them. One is slightly more favourable to the casion than the other, but why is Carib21 more "volatile"?
Biography: I have never played in a casino. I'm more interested in games of chance in general.