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Blackjack odds refer to the statistical probabilities of various outcomes in the game, influencing players' strategies. The house edge typically hovers around 0.5% to 1%, depending on the rules and player decisions. Players aim to beat the dealer by achieving a hand value of 21 or closer without exceeding it. Basic strategy charts can help players make optimal decisions, such as when to hit, stand, double down, or split. Understanding these odds enhances gameplay, allowing players to minimize losses and maximize potential winnings.