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Blackjack strategy is a world made up of two halves. One half is comprised of those who believe that 'basic strategy' is all you need to know, while the other half believe it leaves something to be desired. Basic strategy is the standard name for the strategies that were discovered with a little computer help in the 1980's. Computer programmers realized that once you know all of the variables governing game-play, the specific rules for a table, and the number of decks in a shoe, you could program a computer to play blackjack for you.
Having the computer play for them allowed the researchers to assess every possible situation a player could be presented with (two card total vs. a specific dealer's up-card) and determine which would be more statistically profitable for the player in the long run. This information is usually provided in the form of a table or chart that allows you to look up your two-card hand against the dealer's up-card. The chart indicates whether you should hit, stand, double, or split.
It's rather difficult to dispute the reliability of a blackjack strategy that was built on pure mathematics. Playing perfect strategy, depending on the game you're up against, helps bring the house edge into check, possibly lowering it to the point where the house has less than half a percentage point edge on the player. Advocates of basic strategy know their best chance at the table is to follow the laws of basic strategy to the letter. While people play with the best of intentions, they often fail to follow the strategy suggestions exactly. The reason for this is rather simple, but deceptively destructive.
Imagine yourself at the table, with your basic blackjack strategy firmly in mind, and you are dealt two fives against a dealer up-card of 7. Imagine also, that you're near the end of your session and your bankroll isn't as high as it once was. A common mistake often takes place under these circumstances. Many players see that basic strategy in this situation recommends that you double down and hope your next card is a ten, for a nice strong total of 20. A player who is on a downswing for their bankroll though, is not as willing to bet big, unless they are chasing their losses, which is never a good idea. This is where a very common blackjack strategy mistake is made. When basic strategy suggests one should double down, it's a mistake to think "that means I'll likely win anyway, so I don't truly need to double my bet, I'd rather risk less right now and be happy with my smaller winnings". While there is some inherent logic in this approach, because it's true that if basic strategy is suggesting you double down you have a better chance of winning than normal, actually holding back from doubling your bet limits the advantage that playing with basic strategy provides. You've probably heard that playing perfect basic blackjack strategy may help lower the house edge to less than 1%, but this simply is not the case if you don't take full advantage of every instance where it is advantageous to double down.
Consider this logically. The approximate house edge for a session of play can be worked out by watching your bankroll, seeing how much you have left, and seeing how much the house has taken. Not maximizing your wins on a double down situation will leave you winning just as often, but not winning as much. This has a direct effect on the house edge: it increases it. To keep the house edge at it's lowest you always need to double down when it is suggested by basic blackjack strategy.
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