Blackjack Money Management
How much money should you wager in blackjack? How much are you willing to lose? What are your chances of hitting the top of your bankroll? In this post, we’re going to find out everything you need to know about blackjack money management.
What is Blackjack?
Every gamer needs to be well conversant with this by now. However, to ensure that we don’t leave anyone behind, we’re going to address even the finer nit grits of online blackjack games. In brief, blackjack is a card game of the form of the banking game “Twenty-One.” Ranking among the most popular games in America, Blackjack compares cards between players and dealers. Players do not compete against each other in blackjack, but instead, they work to beat the dealer.
Most people use money in their pockets to gamble. And, that should never happen especially when you are headed to a casino. Experts recommend that you should have a thought out bankroll- a designated among of money that you wish to spend at the betting house.
Setting a bankroll depends on some factors, especially those touching your lifestyle. Remember, gambling is a form of entertainment, and it’s not a career- so, use your money wisely — the only risk the dollar that you can comfortably afford, and not one that touches your lifestyle.
Recommended Size of your Bankroll
The maximum bankroll should be ideally between 10 to 15% of your salary. It’s advisable to put it in a separate account from what you need for your rent, food, mortgage and other lifestyle issues.
So, how large should the bankroll be? 50 times the minimum bet is the ideal bankroll. So, if the minimum unit is $20, then you’d need about $1000.
How Much Should You Bet?
You can bet as low as $10 depending on the house minimum unit or your tactics. Playing with the betting system will require specific amounts of money. Only bet what you are comfortable losing.
Blackjack Money Management Systems
These are methods used by dealers, and several blackjack money management systems exist. In general, we have two types of blackjack betting systems: positive progressive versus negative progressive systems.
The consistent wager system is popular around many online casinos. The players stake a fixed amount of money per hand regardless of the outcomes of the previous hands. By so doing, players do not lose more money than what the house advantage is.
If you are playing for a 90 hands period, which is equal to forty-five hands for every two hours, then, the players are only viable of losing one hand more than what he or she could win. A chance of losing more than one percent of the total played hands makes the mathematical probability, especially in the case where thousands of hands are involved.
One benefit of using the consistent wager system is that you do not have to use a large bankroll like the case of other systems. Noteworthy, the amount of betting only changes when the player decides to double or split the wager. The unfortunate long losing streaks are usually improbable when someone lasts the entire session.
The martingale system traces its roots in France around the 18th century. It is alleged to have started as a technique that would allow players to make more money at blackjack and roulette. The system is quite forthright; in fact, it might as well be the simplest systems that you can learn. The player starts with a single unit and places a double of the amount for the consequent loses. For instance, you start with 1, then 2, 4, 8, 16, etc. After a win, then you go back to the original amount of units that you wagered, in this case, 1.
No doubt, it is easy to see that this method requires a large bankroll- and this is its main disadvantage. For instance, if you continue wagering and losing, then, in the fifth round, you’ll need to put in 16 units! Long-term success requires you to buy in when the table is at the low limit and have a large bankroll.
However, the system has several advantages. It is so effective that the game had to change its rule to defeat it. Otherwise, the house would be at risk of losing its money! The table limits came in to curb this system, and to ensure people didn’t bring vast sums of money to the casino and perform the method. So, most table limits are about a thousand times the minimum limit. Thus, if you are using the Martingale system in such a game, you will not regain your losses after the tenth loss because you’ll need to have at least 1,028 units.
Despite these strict measures, you can upgrade to higher-limit tables. Plus, such a losing streak is 0.01% probable. But most players are probably exhausted after a tenth straight loss. This takes you to the other systems that have been inspired by the martingale. The Oscar’s Grind is one of them.
The Oscar’s Grind is not your typical one-game wager. Just like the martingale, it is a series of bets that aims at making money in the long run. You need a huge bankroll, but certainly not as much as in the Martingale formula.
If the player wins after the first wager, then the series ends. But, if he or she loses, then the unit remains the same for the next hand until a win is made. After the second win, the unit increases by one unit. The series continues until the player has recovered all the losses and made a one unit profit. The next hand usually marks the beginning of a new series.
As you can see, the Oscars grind is likely to lock a player into a long grind of games to try and recover. This is where the Martingale beats the Oscar’s. Plus, you have to bring your concentration hats on when playing the long series of hands.
In conclusion, managing your money is crucial, especially when gambling blackjacks (or any other game). The amount you need to take to the casino depends on your lifestyle and the blackjack money management system you are using.
4 Apr. 2019, by Ari Waknine