Blackjack Money Management
Everyone in gambling talks about it but it remains an obscure muddled
subject. The topic is further muddled by those who confuse money management
with sure-fire betting systems almost all of which lead to a precarious
crossroad where more and more money is risked in the misguided hope of
recovering that which is already lost.
In the long history of gambling, from the earliest recorded history
to the modern era, there has yet to surface a single betting system that
is a proven winner. Like the medieval quest to turn lead into gold and
water to wine, all attempts have failed. These systems have exotic names
like Martingale, Grand Martingale, Fibonacci, D'Alembert but don't be
fooled.
The most logical money management system is simple but effective: bet
less when losing and more when you are winning. Casinos understand that
if you are losing, the chances increase you might "chase" your losses
with even larger bets to get even. The worst time to start throwing larger
bets out is when you are losing. You are probably not thinking clearly
and would do better to change tables, lower your bet, or stop altogether.
If you find that you are winning steadily, try betting a little more. Even better
advice is to leave when you have won. If your initial buy-in was for $100 and
you have doubled your money, you could do a lot worse than leave. You might think
you are giving up potential losses but the odds are with the casino that the
longer you stay and play, the better chance you have of losing it. In the gambling
world, there is nothing worse than winning some money, then losing it and more.
Blackjack Tales >>>
A dollar won is twice as sweet as a dollar earned." - Paul Newman, The
Color of Money
"You cannot beat a roulette table unless you steal money
from it."- Albert Einstein
"It is the mark of an inexperienced man not to believe
in luck." - Joseph Conrad
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