The “If win, press your bets. If you lose, bet less.” is basicly playing the Parlay system.

More info on these betting systems can be found in my post titled “Blackjack Betting Systems: a Method to my Madness“.

Good luck at the tables!

Lets start with the most well known; the Double-Up. It is actually known as the Martingale system. You start with a one unit bet ($1 if you are me or $1000000 if you are the Sultan of Brunei – you base your unit amount on your bankroll). If you win you make the same bet. If you lose you double the previous bet continuing to double until you win. When you win you start again with one unit. This betting system is madness and you have to have a huge bankroll to make it work. It is not uncommon to lose 8 hands in a row, by which time you will be betting with 128 units! In the long run you will not make money this way. Your bankroll will be broken in no time at all –unless of course you are the Sultan of Brunei.

The Paroli betting system is the opposite of the Martingale system. This time you double up when you win. To use this system you need to decide how many you times you double up before you start again. This system can be effective as it is simple to use and easy to remember. You also don’t need a large bankroll to play in this way and it can make a lot without risking too much.

The Parlay betting system is comparable to the Paroli system. It is simple and easy to remember. You base your bets on your profit, so you make a bet where your original bet plus your original winnings are used for your next bets. To use this system, you simply start by making a bet of any size. If you win with this initial bet, you use the original bet and part of the profit to place your next bet with. For example you bet £10 and win, for your next bet you use the original bet, $10 and part of the profit say $5 to make the next bet (Total $15). This way you are not always risking your profit. As with Paroli you need to decide how many times you will do this before you start again. Although you won’t make as much profit as with Paroli you will be risking less of your profit.

The Parlay betting system takes a little thought before you hit the tables but in the long run it can be a good option for beginners and seasoned players alike.