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Money Management
Okay, I hope you’re ready to get right into the blackjack action. In the last installment of our blackjack series we talked a little bit about blackjack tables and the overall setup of the game, including playing with multiple decks. For this installment we’re going to talk about the action of blackjack. I’ll talk about what happens when you sit down to play a hand whether it’s online or in the real world.
The first thing needed when you sit down to play a great game of blackjack is a decision of how much you’re going to bet. In fact, we’ll talk more about betting, betting strategies, and money management deeper in this blackjack series. To play a hand of blackjack you must make a bet.
Once you’ve made a bet it’s now time to play. If you’re playing in the real world or online with multiple players, you need to wait until everyone has placed their bets. Once this happens it’s now time to deal the cards and this is where the anticipation starts.
As I’ve mentioned before, the action starts immediately to the dealers laughed and proceed in a clockwise fashion to the dealer’s right. The dealer will deal one card to everybody and then deal a second card to everybody. One of the dealer’s cards will be placed face up, called the up card. It is this card that you look at and base much of your strategy around.
If you’ve been dealt an Ace and either a face card or a 10, you have blackjack and win automatically. However, if the dealer is showing and an Ace you will get the option of taking even money. We’ll talk a little bit more about this and insurance later. But I just wanted you to know that to get a real blackjack it has to be on the first two cards that were dealt to you.
So it’s your turn and you will have a series of options. First, if you like your first two cards, you can stand. When you stand, you are saying that you want to end your turn. Another option is to hit. Basically, when you hit you get one card. During your turn you are allowed to hit as many times as you want as long as you are still at 21 or under. If you go over 21, its called a bust and you lose your hand instantly.
There are many more actions you can take, such as splitting, doubling down and so forth. In our next installment I will continue the blackjack action by talking about these options.
Tags: Ace, Bet, Bets, Blackjack, Blackjack Action, Blackjack Tables, Cards, Decks, Face Card, Insurance, Money Management, Play Blackjack
Categories: Blackjack, Card Games, Strategies, Systems
Money management is a “buzz word” that’s thrown around the gaming industry, but many people don’t know exactly what it means or how to do it. In fact, there’s so much content on money management, most complete garbage, that you could spend a lifetime reading it all—and be as confused as ever in the end. Also, much of the content is far too technical to be of use to the average player. So, today I’ll give you some simple info.
Here’s the bottom line on money management. The purpose is to help you control the flow of money in the casino. It’s like a financial plan of sorts. Casinos are fun, but it’s extremely easy to get very “loose” with your money in them. Money management, if used and followed, can help you never lose more than you want and ensure that you walk away a winner.
First up is the task of not losing more than you want. It’s fairly easy to implement, but harder to follow. Basically, you want to set a spending amount before entering a casino or logging on. For instance, let’s say you’re willing to lose $100. That would be your spending limit. When you’ve lost $100 you’d leave the casino no matter what’s happening. Part of this step is also realizing that the odds of you winning millions are small.
So, we now have a “bankroll” of $100 and we’re ready to have some fun at the casino. By establishing this bankroll, you know how to play. For instance, if you’re a Blackjack player with a bankroll of $100, you wouldn’t start playing $25 hands. Perhaps $5 hands are more appropriate.
And this is part of the second task of money management—wagering. After establishing a bankroll, you need to establish a general wager amount. For instance, in Blackjack, you want to divide your bankroll by 20, which is 20 hands of play. For poker, you might divide by 40. And for Craps, you might divide by 50—so a $100 bankroll means you should play at the $1 Craps table.
Another benefit of watching your money is winning more. As you’re playing, pay attention to your current bankroll. For instance, if you’re playing Blackjack and your bankroll is now $200, you might change those $5 hands into $10 hands. It’s a ladder system. Likewise, if your bankroll declines to $40, you might play $1 Blackjack to try and get it up again.
You see, money management doesn’t need to be extremely technical. You don’t need amazing math skills either. By following these simple steps, you’ll get more out of your casino experience. The last step is to set a win amount and leave when you hit that amount—unless you’re willing to just play your bankroll out.
Tags: Blackjack, Blackjack Player, Casino Money, Casinos, Craps Table, Fun Casino, Gaming Industry, Managing Money, Money Management, Odds, Poker, Wager, Wagering
Categories: Casinos, Online Casinos, Strategies
Ever play in a Blackjack tournament? They are really fun. Over recent years, Blackjack tournaments have been offered at more and more gambling establishments-even online. While rare, some Blackjack tournaments have even been on TV. I like Blackjack tournaments, because they add a new dimension to the game-player verses player.
Money management becomes far more important (more so than it already is). As with anything in the world of Blackjack, there are loads of Blackjack tournament strategies. And once you’ve participated in a few, you’ll most likely develop your own Blackjack tournament strategies.
Blackjack strategies for tournament play are so diverse. I really don’t think there’s a right and wrong way to do things-as far as “all the time” strategy is concerned. Of course, if you win, it’s the “right” way and if you lose, it’s not.
For instance, let’s say you’re an all or nothing kind of player. The strategy you end up using for Blackjack tournaments will be large bets and highly aggressive play. This can work for or against you. On one hand, you can be out quickly. On the other, if you get a nice run of cards, you’ll be the chip king soon enough. It’s much better than being a player that always bets the minimum. Those players can hit huge runs of cards and still be just a little ahead.
In fact, if there’s one strategy I know doesn’t work too well, it’s the “hoarder.” This player will almost always bet the minimum and hope everyone else runs out of chips. This type of player rarely, very rarely wins anything. I’m not saying to be ultra loose, but if you play this tight, you’re just begging to lose. And who wants to do that? Plus, it’s not that much fun.
Overall, the best strategies for Blackjack tournaments have one thing in common. They all feature mixed play. You don’t want to be ultra conservative or mega loose all the time. Mix it up. For instance, you may play somewhat conservative until you feel a run of cards and then you’ll crank it up.
Whatever you do, don’t consistently bet more after a loss. We call this “chasing a win.” It usually leads to a quick exit. My personal favorite strategy is to bet just above the minimum initially and then increase my bet after each win. I don’t double up though. I always pull a little back into the bank. With this method, I’m setting myself up to win big if I get a good run of cards and I’m set up to last a bit if I don’t.
Tags: Bets, Blackjack, Blackjack Strategies, Blackjack Strategy, Blackjack Tournament, Blackjack Tournaments, Cards, Chips, Game Player, Money Management, Play Blackjack, Strategies For Blackjack, Tournament Strategies
Categories: Blackjack, Card Games, Strategies, Systems
I’ve yet to pick up a good book on gambling that didn’t talk about bankroll creation and management. It’s that important. Even the lightest of books has a page or two devoted to it-regardless of the book’s game topic.
Unfortunately, the topic of creating and managing a bankroll can quickly become a complicated one. I’ve broken this article about money management down to two main segments-session money management and seasonal money management. I’ll go over some light information on each to give you a real head’s up. Let’s get into money management.
Managing your money by the session
This is the most popular method and best for those not betting on sports-Blackjack, Craps, Roulette, Poker, etc. Session management can get so detailed; you’ll need a PhD to follow it all. But, we’re not going that deep.
Basically, it’s like this. Before you go to play in the casino, you set limits. How much are you willing to lose? And you have to stick to it. So, let’s say Charlie is about to walk into the Win Here casino to play some Craps. He might set a loss limit of $100. His bankroll is now $100.
Ah, but wait. Charlie also needs to see a win cap. Yep, you’ve got to cap your wins and leave before it all goes bye-bye. Keep this realistic. For instance, if you set the win cap at $200, you’d leave when your bankroll equals $200, which would be a $100 gain-or a 100% increase. Anything more than 200% is highly unrealistic.
Most people fail at both ends of session management, but the win cap kills almost everyone. They are winning, so why love? Yes, why leave? Why not stay until you’ve lost it all back?
Managing your money by the season
No, I’m not referring to spring, summer, fall and winter. I’m talking about sports seasons-or anything else that lasts more than one session. Actually, a gambling marathon would apply too.
It works the same as session management, except that you’re setting a loss and win cap for the entire season-and thus, the amount is larger. In fact, you might not even have the money in your possession.
Let’s try an example. Charlie is a hard-working guy. He lives paycheck to paycheck, but loves betting football. He decides that he can afford to lose about $100 a week for the entire season. Figuring in playoffs and the Super Bowl, he sets a seasonal bankroll of $2,300.
He doesn’t have $2,300 right now, but he has the initial $100 to get going. So each week he now knows that he has $100 to spend. Additionally, he set a win cap at $3,500. If his bankroll ever hits $3,500, he’s out. Be smart with your money. You’ll have more fun and you could take more home in the process.
Tags: Betting On Sports, Blackjack, Craps, Managing Your Money, Money Management, Roulette Poker, Session Management
Categories: Casinos, Online Casinos, Strategies, Systems
In part one of the Caribbean Stud Poker Tip Sheet, I went over the all-important odds chart and gave you some insight into what to expect when you’re playing Caribbean Stud Poker. Next, let’s go over four fast tips to help you maximize your fun and potential profit when playing Caribbean Stud Poker.
Caribbean Stud Poker Tip One – Staying In
This one is pretty easy. If you are dealt two pairs or better, add to your wager and stay in the hand. The premise is simple. The dealer will only have a hand better than two pair once per 47 hands in theory. The probability of you winning is on your side.
I’d also expand this and say that with one pair you should strongly consider staying in the hand. The probability of getting two pair is 1:21 and if you win you’re being paid 1:1, so the value is in your favor. The dealer will fail to qualify very often and that’s what you want when you have one pair.
Caribbean Stud Poker Tip Two – Play that progressive
Some call it a sucker’s bet, but let’s be honest. Why are you playing this game? To have fun and win money!
If you get a straight, flush, full house, straight flush or royal flush and the dealer doesn’t quality-again, it happens a lot-you get paid nothing. I don’t know about you, but if I’m dealt a four of a kind and the dealer doesn’t qualify, I’ll look pretty stupid for not betting that $1.
And if you’re a money management and fiscal conservative, go play Craps or nothing at all.
Caribbean Stud Poker Tip Three – Nothing equals fold
Again, a super simple tip to live by. If you have nothing in your hand, fold. Why? Well, think about it. The only way you win is if the dealer doesn’t qualify and that might happen say 30% of the time. If that were the case, you’d have a 70% chance to lose and you’ll only be paid even money on your Ante wager. Your Bet wager gets nothing, but it can lose if you stay in.
Think about it again if you think I’m wrong. You’re wagering two times the amount to win half. For instance, you’re wagering $10 with nothing to win a maximum of $5 and you have a high probability of losing on top of all that. It’s a really stupid move.
Caribbean Stud Poker Tip Four – Play it cool
Caribbean Stud Poker is a great game, but it’s not the best game in the house. Have a blast, but never press up your bets thinking that you’re “due” to win.
Take it easy, have fun, remember these tips and win some money.
Tags: Caribbean Poker, Caribbean Stud Poker, Full House, Game, Money Management, Odds, Play Craps, Playing Poker, Poker Tip, Probability, Progressive, Royal Flush, Tip Sheet, Two Pairs, Wagering
Categories: Card Games, Poker
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