Progressive betting Blackjack
Progressive betting in blackjack, or any other casino game, is one of the most sure ways to lose all of your money. The betting strategy is simple, and that’s what often attracts people to it. You just keep doubling your bet every time you lose until you finally win a hand. After all, even on a terrible losing streak you’ll win a hand eventually, right? Well, in theory this sounds logical, but in reality progressive betting systems will lead to huge losses over time.
Progressive Betting | Optimal Card Counting
Progressive Betting Systems – Why Don’t They Work?
There are several pitfalls that you will eventually hit if you’re using a strategy based on progressive betting. First of all, at some point you might run out of money and not be able to afford doubling your bet after a loss. Here’s how things will look if you lose 7 hands in a row starting at $25…
Bet #1: $25 (total loss = $25)
Bet #2: $50 (total loss = $75)
Bet #3: $100 (total loss = $175)
Bet #4: $200 (total loss = $375)
Bet #5: $400 (total loss = $775)
Bet #6: $800 (total loss = $1, 575)
Bet #7: $1, 600 (total loss = $3, 175)
At this point you’re down $3, 175 and you now need to bet $3, 200. Can you afford that? How about if you lose an 8th hand in a row… Can you afford to be down $6, 375 and then bet another $6, 400? Even if you think you can afford it, when you finally win a hand you will be up a whopping $25 for all your work and emotional stress. Will you lose 7 or 8 hands in a row? Maybe not in the first hour of play, but there is no question that at some point you will lose more than 8 hands in a row no matter how good of a player you are.
Looking at the above example, you can probably guess what the next problem with progressive betting is. Even if you have an unlimited bankroll, at some point you will hit the table maximum bet and will not be allowed to raise your bet further. Most Indian casinos will usually have a $500 or $1, 000 table maximum. Many high limit rooms in Las Vegas only go up to $5, 000. Even the high end properties in Vegas such as Wynn, Bellagio and Aria will only go up to $10, 000 on their blackjack tables.
Advantage gambling, or advantage play, refers to a practice of using legal ways to gain a mathematical advantage while gambling. The term usually refers to house-banked games, but can also refer to games played against other players, such as poker. Someone who practices advantage gambling is often referred to as an advantage player, or AP.
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