3 Valuable Money Management Strategies You Can Use In Blackjack

3 Valuable Money Management Strategies You Can Use In Blackjack

By Adam Smith | Finance Contributor on November 20, 2020
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Blackjack is one of the most popular games in the world of gambling. Millions of people from all walks of life play online blackjack for money. It’s a game that blends luck and skill, and this is what keeps gamblers coming. That being said, if your goal is to thrive while playing the game of blackjack, you will need to implement some money management strategies. Below you will find the most popular ones that can serve to greatly improve your blackjack gaming experience.

  • Create and sustain a bankroll. This means that you need to be careful not to spend all the money you have won by playing blackjack. It is much smarter for you to invest some money in your bankroll. This will make sure that you have some money on the side that you can use to cover the inevitable drops in your blackjack experience. You won’t need to take some of your hard-earned money to cover it. As such, this is one of the most important tenets of a sound blackjack money management strategies that you should implement no matter who you are.
    1. Choose a reliable casino. There are few casinos that provide a fair gameplay. But we can claim that any RTG casino is in this list. Great experience and high winnings are possible, but enhance your hances by picking up the trusted casino with a fair gaming provider.
  • Set aside a sum of money that you can spend on gambling and don’t go a penny overboard. This will require discipline from you– as it may not be easy for some people just abruptly to stop playing once they go over the limits. But this is also an indispensable part of a sound blackjack money management strategy. You can set daily, weekly, or monthly limits. If you happen to have a bad day in terms of your blackjack luck, and if you draw ever nearer towards your gambling limit – then maybe it’s time to stop. The worst thing you can do is bend over and use your money to chase after a series of losses.
  • Try and implement the Martingale strategy. A word of caution – this strategy works for some people and doesn’t work for others. A degree of luck is involved in its successful implementation. It’s a system of progressive bets that you can implement to get the win. You start out with a base bet of, say, $5. If you win, then you re-bet the exact same sum of money. If you lose, then you start chasing after the money you’ve lost by doubling your bet to $10. If you win, then you reset your bet to $5. If you lose, then you double up once again and bet $20. And so on. As you can see, this system has its benefits and drawbacks. The positive thing is that you have multiple chances to win – and it’s likely that you will break a string of losses soon enough. However, on the flip side, every once in a while you will hit a big string of losses – it’s the law of probability. Every time you win with this strategy, you will win a small sum of money. But every time you lose – you will lose a vast sum of money compared to your initial bet – all due to the progressive nature of this betting system. Implement it wisely and with caution.

So, there you have it; we have outlined some basic money management strategies that you can use and implement as you play blackjack. Aside from the Martingale betting system, there are also other systems that you can implement – but again, anyone telling you that they sell a 100% foolproof blackjack betting system will likely turn out to be a fraud. So, it’s always smarter to play it safe and choose the best paying method. Create and maintain your bankroll and follow your preset budgetary guidelines – and you will do well in the long run when playing blackjack.

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