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PROGRESSIVE BETTING SYSTEMS
by Henry Tamburin
Henry Tamburin is an accomplished blackjack player, editor of the Blackjack Insider newsletter, and featured writer for a host of gambling publications. He also hosts smartgaming.com.
Note: About once per week I get a question from a blackjack player about a progressive betting at blackjack. Therefore, I have reprinted below an article that I wrote for Casino Player magazine on this subject.
One of the most controversial topics in blackjack is progressive betting systems. These systems have been around for 200 years, and even today, many recreational players use them when they play blackjack. If you fall into the category of a "progressive bettor," you may be surprised at what I have to say about them.
The intent of a progressive betting system is to vary the size of your bets in a predetermined manner, according to whether or not the previous bet won or lost. With some progressive betting systems, you increase your bet following a losing hand (so-called negative betting progressions), while in others you increase your bet following a winning hand (positive betting progressions). In this article, I’ll focus on one of the most famous and widely used progressive betting systems, the Martingale, or double-up, system.
The Martingale betting system is easy to understand and use: you just double your bet after every loss until you finally win, at which point you will be ahead by one betting unit. For example, suppose you wager $10 and the results of the next three hands are loss, loss, and win (L-L-W). Using the Martingale system, you lost $10 on the first hand, $20 on the second hand, and won $40 on the third hand. You wind up with a net win of $10, which is the goal of the progression, to win an amount equal to your starting wager.
How can there be anything wrong with the logic of the Martingale? Just leave the table after a win and you always walk away with a profit. Right? Well, yes and no...
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