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, DAlembert but dont 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.

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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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