It is true that Blackjack is a game of skill where some kind of luck is also a factor. This card game is quite random that it is hard to say if one will win or not. Losing streaks are bound to happen. On the other hand, winning streaks are bound to happen too. The best thing that a player can do when playing blackjack is to go with basic strategy. Be it a losing or winning streak, there is just no way how long such episode will last.
Greatest Losing Streaks
Remember Kerry Packer? During one of his losing streaks in Las Vegas, he lost on average $1 million a day. The Australian billionaire lost some $20 million at the Bellagio in 2000 during a 3-week losing streak.
Electronics executive and scammer Omar Sidduiqi lost a total of $167 million at various Las Vegas casinos from 1999 to 2009. He once won $8 million in one day at the blackjack table. What makes this person more memorable is that he used kickback money from clients to fund his gambling.
Controlling Losing Streak
Losing streaks happen to all blackjack players. When this happens, there is no telling when it will end. What to do? The only wise thing to do is to play or prod through it. Why? Well, blackjack do offer the best house odds so a player who plays through losing streaks will do quite well in the long run. And, all losing streaks are bound to stop so playing through it is a good idea more so if the player’s bankroll is sufficient.
By “in the long run” does not mean after a dozen or so hands, but more on thousands or even tens of thousands of hand. Therefore, patience is also a virtue when pertaining to playing blackjack. Nothing good will come out if one chases his losses. No one can rightly tell if he’ll come out the winner in the next few hands.
No to Martingale System
The Martingale System is one technique best avoided during a losing streak. This method is most commonly used in roulette, but can also be used at the blackjack table. How does it work? It’s doubling in the next hand a previous bet that one has lost. Let’s say a player bets and loses $20. His next bet is $10, and loses yet again. Now the player has lost a total of $30. To recoup that player bets another $20 and wins $40. Doubling the size of the last bet for the current game should bring some kind of money the player wins.
The Martingale System does not really work. A player will eventually hit a losing streak and won’t be able to cover the following bets. If a table has a $500 maximum bet, a 7-hand progression of the system will be 5, 20, 40, 80, 160, 320, and 640 dollars. A $5 profit for a $640 bet is unbelievable and a total waste of money and efforts.
Going About Losing Streaks
It is not good to let one’s emotions take part when playing poker. Raising one’s bet because he is upset is termed as “on tilt”. This phenomenon is a sure way to lose more money. The best thing to do is just walk away from the table if it seems that lady luck is smiling.
Another way to cut short losing streaks is to set a “stop limit” or “loss limit”. Once that figure is reached, the gambler stops playing and quit the session.