|Blackjack Articles And News: The Parlay, Blackjack Strategy, Pyramid, Betting System|
September 17, 2010.
The Parlay Roulette And Blackjack Betting System Review And Tips.
The Parlay betting system is one of the progressive betting systems that generally used in roulette but can also be used when you play blackjack. The Parlay system is similar to the Paroli betting system in that it is a positive progression system for which the goal is to "pyramid" your profits.
Positive Blackjack Betting System
A positive betting system is one in which players try to win big by increasing their bets and reduces their bet after a loss. "Positive" system dictates you to increase your bet when you win. That looks like a relatively rational system of money management. In the case of the Parlay system, when a player wins he bets his winnings plus the original bet and continues to do so on each successive winning hand/spin. When the player loses he goes back to his original bet size.
Webster's definition of "parlay" is to "use one's money, talent, or other assets to achieve a desired objective, such as
spectacular wealth or success." In gambling terms to parlay is to gamble an original amount and its winning on a subsequent race or hand. So the Parlay is
a logical name for this betting system.
Parlay in Real World
The Parlay is also called the "Let it Ride" system since when you win you leave your winnings on the table and let them ride to the next hand. A type of
parlay betting system is also commonly used in horse racing. It's also based on the same idea that banks use when they compound interest on your deposit, giving interest on the account balance for one quarter and then giving interest on that sum plus the interest the following quarter, and so on.
Parlay Blackjack Betting in Practice
Let us use real game examples to better understand how the Parlay betting system works on blackjack tables. Suppose a sample blackjack player is playing at a table with a minimum real money bet of $5 and he is a conservative gambler so his initial blackjack bet is $5 min bet. Suppose player's "blackjack" is paid 3:2, which means the player is
paid $7.5 on his $5 bet plus he gets his original $5 bet returned to him. Player is using the Parlay system, which instructs him to use his profit of $7.5 plus his original $5 bet as a bet on the next hand, so he places the $12.5 on the next hand.
If he continues to win at blackjack table, he sticks to the same pattern of betting thus leaving all the money on the table for the subsequent bet. If he loses, he goes back to his original bet. It is also a good
idea when using the Parlay or any other betting system (especially Martingale) - to set a maximum bet in his mind before starting to play. The overall idea is to quit on time. The down side of the Parlay blackjack betting system is that even a hot winning streak can end sooner or later and a huge bet can be lost unless the player decides beforehand to quit while he's ahead at some predetermined point.
Things to Consider
Like most betting systems the Parlay should be used in conjunction with the blackjack basic strategy or optimal strategy for the game to optimize your playing potential. Optimal strategy and card counting can actually change the house edge, and that's about the only system that works as no other "system" (as opposed to a mathematically-based playing strategy) will hurt the house edge in any serious way. Although you could not substancially take advantage of the card counting in online casinos (because the cards are re-shaffled after each hand), you do can decrease a house edge a little bit. Special thanks to the Wild Jack online casino.
No blackjack betting system will work consistently for you because it relies on and takes advantage of winning (or loosing) streaks and short-term changes in probability. Even though you can quit at any time when you are satisfired with your current winnings but most players do not. Most of the players stay at the blackjack table and keep going until they end up losing whatever profits they may have made. So, always set limits, at least on losses.
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