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Betting In No Limit Tournaments
by Monkeysystem
Monkeysystem has been playing advantage blackjack recreationally for many years. Early in his career he used High-low and AOII, and then simplified things, switching to Knockout a few years ago and getting better results. He started playing tournaments in 2004 and has cashed in several. In this article he gives few ideas for simplifying the sometimes challenging task of calculating bets in blackjack tournaments with no maximum bet limit.
The explosion in popularity of no limit texas hold 'em tournaments in recent years has influenced some casinos to imitate the no-limit format in their blackjack tournaments. The Winstar World Championship Series of last year and the Meskwaki, Iowa tournament coming up in April are just two examples.
Blackjack tournament aficionados like myself generally don't like the no limit format because it tends to reduce our edge, leveling the playing field for the casual players. This is especially so when it's combined with 2:1 payments on blackjacks. Nevertheless it looks like it's here to stay awhile so we'd better examine it closely to optimize our edge, such as it is, over our casual opponents. Note that these techniques also apply to situations in max bet tournaments in which the dealer has been slaughtering everyone, and you’re all down to less than a max bet in your bankroll.
One important difference between the no-limit format and max bet format is that in a no limit format a chip leader doesn't have to worry about covering the double down on the last hand. A chip leader has enough chips to cover his opponents' all-in bets by just betting enough of his stack. This simplifies the task of calculating your bet (same for your opponents.)
How do we calculate a bet that covers the opponents (taking the high?) Should you just lead off with an all in bet if you're the chip leader?
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