In learning about Blackjack, many gamblers who have a strong desire to play the casino classic seem to cover the game’s strategy thoroughly and completely omit blackjack money management in their anticipation to play the game. Yet, the art of managing your bankroll plays an important role in determining how long you manage to stick in the game for as well as how big the amount you can stand to win is as a result of managing your bankroll. In fact, if you manage your bankroll poorly, all your understanding of the rules of blackjack and blackjack strategy will not serve you for anything and all your effort will be null.
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Your Blackjack Bankroll
Many gamblers often turn up at a casino and opt to use the money they have in their pockets to gamble away to their heart’s content. Yet, this is the worst thing you can do at a casino. Instead, we highly recommend that you designate a certain amount of money towards how much you’re willing to spend at the casino. This is known as your ‘bankroll’. In trying to decide upon how large your bankroll ought to be, you should consider a couple of factors; the amount you can afford to gamble with no matter if you win or lose, your rent money and whether the amount you’ve chosen will significantly have an impact on your lifestyle. Before you actually dive into gambling, you should always take some time to think about how big or small your bankroll is to actually be sure that you’re not making a huge mistake. If upon reflecting about your decided bankroll, you discover that you can’t actually afford to gamble using your chosen bankroll but wish to gamble any way you should make an effort to build up the necessary funds. An important thing to always remember when gambling online or any brick and mortar casino is that real money casino games should be played by using money which is actually expendable. Risking every dollar you have in your name to gamble is definitely not worth your dignity! So, be patient.
Building your Gambling Bankroll
Having a bankroll is crucial whilst playing any casino game. To have money to spend whilst playing blackjack, you should work on building one. This of course will take both time and patience. In building your bankroll, you must remember that it isn’t a race, so there’s no need to rush and put yourself in an uncomfortable position financially. Perhaps the easiest way to do this is to take about 10 to 15 per cent of your monthly salary and put it in an account which is separate from the one you use to fund your everyday needs, rent etc. Hence, the best thing to do is to set up an account which is primarily dedicated to your bankroll.
How Large Should Your Bankroll Be?
The amount of money you should dedicate to your bankroll can be determined by taking the table limit belonging to the particular blackjack game you wish to play. Generally speaking, you should always aim to buy-in using 50 times the minimum bet. Hence, your bankroll must be 50 times the minimum bet due to the fact that having a bankroll of this size will help you to pick up after you’ve encountered a ‘cold deck’ that has led you to a loss. So, in hindsight, if the minimum bet is $10, you should buy in with about $500.
How Much Should You Bet?
Your decision on how much to bet on a single hand in blackjack can be determined by several factors; how good or bad your hand is, how much you can afford to bet at one go, the amount you can potentially win/lose and so forth. The underlying message we are trying to give to you as a blackjack player is to only bet with whatever amount you’re comfortable betting with. If you’d like to implement a betting system whilst you’re playing blackjack, you should go ahead. Read about them below:
Blackjack Betting Systems
In truth, betting systems that are commonly used by gamblers to determine how much to bet and when to increase or decrease their bets do not always work.
Positive Progressive Betting Systems
This type of betting system would advise you to double your stakes each and every time you win and decrease stakes when you lose. The conceptual idea behind this is that using one of these will help you to maximize your profits provided that lady luck is on your side and you’re on a winning streak.
- The Paroli Betting Strategy (Reverse Martingale): As one of the simplest betting systems out there, and perhaps the most well-known amongst gamblers. The idea is that you first set yourself a base stake that will represent your initial wager. Each time you win with your blackjack hand, you must increase your bet if you’re following this betting system. For example, you place $10 as your initial bet and win $10. You then bet $20 and win again. After this, you bet $40 and win. If you’re following the Paroli Betting System, you then stop and proceed to your original bet.
- One Half Up: The One Half Up is a positive progression system that is also well-known amongst gamblers. When following this system, you’re not required to increase your bets until you win two bets in a row.
Other Positive Betting Systems include:
- Reverse Labouchere Betting System
- 1-3-2-6- System
- Contra D’Alambert
Negative Progression Betting System
Whilst positive progressive betting systems advise you to increase your bet only when you win, negative progressive betting systems advise you to do just the opposite.
- Martingale Betting System: A well-known betting strategy that increases your chances of winning in the short term, however, definitely not in the long-term! Yet, you’ll find that this still emerges as the most used out of all the other betting strategies. To implement, you must place an initial bet of $5. Each time you manage to acquire a win through the hand that you’ve been dealt, you then make the same bet for the next hand. However, if you lose, the strategy tells you to double your bet on the next hand. Once you eventually win, you’ll be up by $5. The primary risk of this system is that multiple consecutive losses can lead you to go broke at the end of the game.
- D’Alembert Betting System: This is known as another negative betting strategy that is popularly used in games such as Blackjack as well as the casino classic Roulette. In the D’Alembert system, the latent concept is to decrease one’s bets when winning after acquiring a good blackjack hand. Keep in mind that if you start by placing a bet which is equal to the betting limit of the particular blackjack game that you’re playing, you won’t be able to reduce your bet.
Other Negative Betting Systems:
Blackjack Betting Rule of Thumb – Our Opinion
In the words of professional gambler Phil Hellmuth, “If there weren’t luck involved, {he} would win every time.” Our opinion of using betting systems pretty much draws on this quote, so as to say that progressive Betting Systems do not in any way increase your overall opportunity to guarantee a win as much of winning at blackjack comes down to luck. Nevertheless, if you feel better by having some sort of basic outline to use in regards to how to use your bankroll and when to increase your bets, we recommend that you use a positive progression betting strategy rather than a negative one. To learn more check out our Blackjack strategy chart.
Use Knowledge and Skill Against the Casino
Ultimately, your knowledge of the casino classic coupled with your money management skills is the greatest source of ammunition you as a player have against a casino. This remains true whether you play craps using the online craps strategy or blackjack. Hence, use the strategy well and you’ll leave the casino at your mercy! Have a look at our 5 Tips below that give you advice about Gambling online.
5 Tips for Blackjack Money Management
1.) Find the Best Casino that Suits your Personal iGaming Needs
Nowadays the net is astonishingly peppered with online casinos to choose from. However, not all are great, so do be careful which one you choose. Make sure that the casino is both licensed and regulated by a respectable gaming authority and offers the right environment for you to progress as a gambler.
2.) Know the Game You’re Playing and the Terms
To avoid going broke whilst playing casino games, you should make sure you know the game inside out. Whilst blackjack might appear to be a simple game to play, it is our knowledge of the rules, strategy together with great money management to will help you to potentially win a progressive jackpot. Once you’re an expert, you can even signup to play in blackjack tournaments.
3.) Be Aware of How to Place Your Bets
You should know which bets are best to place on the blackjack table. Sometimes it might be worth doubling your bet if you have a good opportunity to do so.
4.) Become Familiar With Your Bonuses & Wagering Requirements
Before you go ahead and register your details to an online casino, you should take bonuses and wagering requirements into consideration. Determine if the bonus is actually worth it and how high the wagering requirements are. Read more about Bonus Casinos on CasinoTop10’s Bonus Casino Guide to find out about the different types of bonuses that are available and how to make the most of them.
5.) Combine Your Money Management & Knowledge of the Game
Rather than choosing to implement blackjack’s basic strategy on its own, you should aim to incorporate it with an advanced blackjack strategy, a money management strategy and even use a betting strategy. This in effect could lead you to generate a huge win!
Manage Your Money Well and Become a Gambling Superstar!
Poker player V.P. Pappy once said, “Gambling is not about how well you play the games, it’s really about how well you handle your money.” This wise principal can be applied to the casino classic; blackjack. Of course, learning blackjack money management skills will fundamentally come with time. Nevertheless, you needn’t fret as CasinoTop10’s blackjack money management guidelines will have you well on your way on becoming an iGaming superstar! If you’d like to play Blackjack for real money, we suggest that you go ahead and find a fantastic casino to play at by browsing through our ranked and reviewed list of Best Blackjack Online Casinos or looking at our best blackjack apps page. Best of Luck!
