Managing Your Blackjack Money

The first thing you need to​ do is​ decide what your stake is. Maybe you are going to​ Las Vegas for 4 days and your “play money” is​ $1,​000. if​ you are smart,​ you will divide this up equally and only play with $250 per day. if​ you lose your $250 the​ first day,​ stop. Wait until the​ next. This is​ probably one of​ he biggest tests of​ self-discipline.

The next thing you want to​ do is​ avoid blowing your daily wad in​ one sitting. With your $250,​ take out $100 and get your chips and start to​ bet conservatively. You want to​ stretch out the​ playing experience and play the​ ups and downs. Make sure you check out the​ minimum amount for the​ table.

Let’s say you take your starting $100 and bet $5. You lose the​ first hand. What do you do next? Many players will double their bet hoping to​ break even by winning. This is​ commonly called throwing good money after bad. What you should do is​ continue to​ bet the​ $5 and if​ you lose 3 or​ 4 hands in​ a​ row,​ change tables or​ take a​ break.

Never send good money after bad.

Now,​ let’s say you win that first $5 bet. the​ next hand you should increase your bet and make it​ $10. if​ you lose,​ go back to​ your original $5 bet. if​ you win,​ continue to​ increase your bet. Don’t double it​ each time; just make it​ a​ bit bigger. So,​ this time you wager $15. Again,​ if​ you lose,​ go back to​ the​ initial $5 bet. if​ you win,​ bump it​ up to​ $20. This way you are increasing your bet and still retaining some of​ your winnings. Always go back to​ your initial bet once the​ streak is​ over. Don’t walk away from table saying “I wish I had bet more”.

When you play blackjack,​ you will find that there are up and down streaks. You want to​ minimize your losses during the​ losing and increase your bets when you are winning.

I can remember playing in​ Canada,​ and there were five of​ us on​ the​ table. I had been having a​ bad day and just sat at​ this table and immediately started winning. This was a​ $5 minimum and that is​ what I started with. I kept increasing my bet as​ I was winning and in​ about an​ hour,​ I won over $3,​000. My tablemates were all buddies and were betting $5 per hand whether they won or​ lost. They all won,​ but not much. They could have won so much more but didn’t know the​ correct strategy.

So,​ plan your money strategy as​ wisely as​ you plan your playing strategy. Smart betting,​ self control,​ and riding the​ winning streaks,​ will net you much more money. Good luck.

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