Blackjack money management: You Need Money to Make Money
Thursday, November 29th, 2007
Isn’t always the way? With blackjack your bankroll needs to be sufficient to bear up under the normal fluctuations that happen during blackjack. You need to understand that you will not always win, even if you stick to the Basic Strategy charts. I’ll say it again, you will not always win. Sticking to the Strategy only increases the likelihood of you winning.
Only Play with Money that you don’t need
Never gamble with money you can not afford to lose. Gambling with rent, bills or food money is bad. If you are doing that, you might want to consider taking a break from gambling for a while. If money in your bankroll has an emotional attachment you will make bad decisions. Bad decisions lead to losing play. You need to think of you gambling bankroll as units to play with, not as the amount of stuff it can buy you.
You need to have enough
You need a bankroll large enough to sustain the short swings of bad luck that you will encounter at the blackjack tables. You still need money to keep playing and ride out the short swings. You need to have at least 30 times the amount you bet at the table and the same again in your bankroll for reloading. So if you bet in $1 bets then you need at least $30 at the table, if you bet in $20 bets than you need $600 at the table.
Don’t Bet Too Much
Don’t double up or triple up to try an regain your losses. You will lose more money and then you will be grumpy. Stick to your betting system. Have a fixed amount that you will lose in a session and when you reach it WALK AWAY. Write yourself out some little guidelines and stick to them. Many players will accept 20 times the amount they bet at as a loss but no more. Set up reloading limits if you play online. Many sites will help you restrict the amount you can reload in 24 hours.
If you are winning, put aside some of your spoils to use another day. Have guidelines about what to do with your winnings and stick to them. Don’t use a winning streak as an excuse to increase your betting: you will regret it.