To set the stage for good money management it is important to clarify streaks. All table games are nothing more than mathematics and streaks and the best way to explain streaks is with this example. If you flip a coin 500 times theoretically it will land on heads 250 times and tails 250 times, but in the process it may land on heads 7 times in a row, than tails 5. Heads 10, tails 8, etc. The same is true in blackjack, seldom do you win one then lose one throughout the night. Rather you win 5 in a row, lose 3 in a row, lose 4 in a row, win 6 in a row, etc. Now, how does this process relate to good money management? Your objective at the tables is to maximize your betting when the streaks are your way and minimize them when the streaks are with the house. The only solution is a consistent progressive betting strategy.
Let me give you an example of the simplest form of a progressive bet and the advantage of using it. Two players at the same table bet $25. Player 1 wins, pulls back his winning each time and bets another $25. Player 2 wins and each time he adds another $25 to his bet each time he wins. Both players win 5 hands in a row and lose the 6th hand. Player 1 nets $100, player 2 nets $250. Player 1 fails to realize that after the second bet (or win) player 2 is risking no more money than player 1 by raising his bet $25 dollars at a time. Player 1 loses $25 on he sixth bet and player 2 loses $50 on the sixth bet even though he has progressed to a bet of $150. Obviously you can see the financial pay off of this simple strategy.
Let's take it another step. Player 1 and player 2 have doubles on their 4th bet and both make them. Player 1 wins $50, player 2 wins $200, again with no more risk after the second bet. Remember player 2 is progressing but also is pulling back more money in winnings each time he wins. So when it is time to double or split his hand the money is there from his winnings, without going to his pocket. Now we are talking a huge financial advantage.
The key to any progressive strategy is not to be so aggressive that you risk too much too early of your own money in finding a winning streak. Also in a progressive betting system, when you lose a hand you go back to the original bet, and add no chips until you win. Here is another example: let's go back to player 2. He loses 5 in a row betting $25, net loss $125, then wins 5 in a row, $250, or a profit of $125. Simply the strategy is to bet the minimum when it is the houses streak and keep adding to the bet when the streak is in your favor. Players who bet only a single unit fail to realize that when they hit a cold streak, without a progressive strategy, it is almost impossible to get even or leave the casino a winner.
Here are a couple of things to keep in mind when playing a progressive betting system.
1. Always keep adding chips as long as our streak runs. I see players progress for awhile than pull their bet back and bet the minimum even though their still winning. They are scared or out of their comfort zone. Starting with $25 they may get to $125, $150, or $175 and they panic. Actually, after the second bet you are risking no more then betting one unit at a time.
2. If you lose 3 or 4 in a row at any table, move to another table. Your objective is to find the streaks going your way. My 25 years of blackjack experience has proven that you will get a great advantage over the house and other players by using this technique.
Progressive strategies will vary, I feel mine is second to none and you can find it in my book or video.
Find a progressive strategy that you are comfortable with and play it consistently. You'll enhance your play and win more money.
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