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Blackjack Money Management

Blackjack Money Management
by Jason Green of Predictem.com

If you use the right Blackjack money management you can still ride out a streak of bad luck. You have to know that even when using good Blackjack money management you will not win every Blackjack hand. By following the proper Blackjack money management you will not win all the time but you will be decreasing the house edge and put yourself in a better situation to win.

The first thing you have to know with proper Blackjack money management is that your bankroll has to be big enough to withstand the streaks that inevitably happen when playing Blackjack. A couple of the bigger mistakes that Blackjack players make is not having enough money to make best and over-betting. There will be times when you hit a streak of bad luck when you play Blackjack, and you will lose money sometimes. But you need to have a big enough bankroll to ride out these streaks of bad luck.

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If you over-bet, in terms of how much money you have in your bankroll, you will win more if you are winning but you will also lose more when you are losing. If you hit a streak of bad luck you can lose all of your money. To keep from over-betting and having a big enough bankroll, it is a good idea to have 30 bets every time you sit down to play. For example, if you are playing on a $5 table you should have $150. You should also bet within your means. If you have a bankroll of $100 you should not start playing on $20 tables.

You should not gamble with money that you cannot lose. Many gamblers that gamble with money they cannot lose end up chasing their losses, which can lead to losing money quicker. Gamblers like these end up risking more money to try to hedge their bets and win back their original money. However this is the worst way to bet, as you can lose much more money than you are able to afford.

Many times what separates a winning gambler from a losing gambler is that when a gambler is winning they leave the table with more money then they sat down with and when they are losing they will cut their losses an walk away. A gambler that is smart will not allow themselves to lose all their money when playing Blackjack. To be a winning Blackjack player you have to know how to maximize the money you win and minimize the money you lose. If you do this you will win more often than you will lose, and when you do lose it will be manageable amounts.

When you are winning you should pocket some of your winnings. For example if you are up $40 take $20 and pocket it. If you keep winning keep pocketing some money. Keep riding your winning streak and keep putting some winnings aside. If your good luck streak stops you can still leave the table a winner, as you have pocketed your money. Many people do not do this and end up betting all the money they have won.

If you are winning and want to bet more to increase your profits do it in smaller increments, as you should not go from $10 bets to $50 dollar bets right off the bat. For example, if you are on a winning streak and are betting $10 a hand go up to $15 or $20 dollars a hand but you should not increase your betting amounts over 100%.

To minimize your losses when playing Blackjack you should never lose more than 20 bets in any one session. If you are near that limit just get up and walk away from the table. Never try to hedge your bets and win your money back, because by doing this you have more of a chance to lose a significant amount of money. Basically, do not chase your losses.

There are also a few times when you should get up and walk away from the game.

- Other players at the table are playing very bad Blackjack. If other players are not aware of the rules they can throw your strategy off.
- You lose a few hands and start to lose your cool. Getting mad and getting too emotional will only lead you to make irrational decisions, which can end up costing you money.
- You deviate from the basic Blackjack strategy because you are losing. Stick with the strategy, as it will pay off in the long run.

If you follow these simple tips you can effectively use money management to your advantage.

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Interesting Facts

Did you know... that the chances (probability) of being dealt a blackjack is .024%, which equates to one BJ approximately every 42 hands dealt?