Bet with your Head

Let's say that you are a $5 player at the blackjack tables. You are on a great streak and are winning hand after hand and hitting your double-downs. The blackjacks are coming with a regularity that you've never experienced before. You look down at your chips and you are up a couple of hundred dollars.

The question is, from this story there is good news and bad news, can you explain each? The good news is obvious. You are winning! Playing for $5 a hand and being up a couple hundred bucks is a great accomplishment. That's 40 units. So what could possibly be the bad news?

Veteran players know the answer. And now so will you. The bad news is that the player didn't take full advantage of the winning streak by increasing the amount of the bets. If you are on a legitimate winning streak and don't increase your wagers, you are in essence losing while you are winning.

Let me explain. Increasing your wagers should be a major part of your play when you are winning. There is an easy way to do this. The progression for a $5 bettor is: $5, $10, $15, $25, $35, $50.

IMPORTANT NOTE: When you lose a hand, go back to betting $5. Continue to bet $5 until you win a hand, then begin the progression again.

This betting progression allows you to take advantage of your winning streak and when you hit a losing hand it automatically brings you back to your minimum wager. NEVER chase your losses! Before you even consider chasing your losses do yourself a favor and get up and take a walk.

I've got magic powers. I'm scorching. I'm hot as a pistol. Axel Freed (Played by James Caan in "The Gambler")

If you win and you're not excited, then you haven't won at all. John Gollehon

What non-gamblers do not know is the feeling of virtue… when the dice roll as one commands. And that omniscient goodness when the card you need rises to the top of the deck to greet your delighted yet confident eyes. It is as close as I have ever come in my life to a religious feeling. Mario Puzo

Sometimes a race unfolds exactly as you've envisioned it, with the horses cleaving to a pattern in your brain. Bill Barich

To be a winner, you really have to want to be a winner. Avery Cardoza

Quotes courtesy of: Paul Lyons, "The Quotable Gambler"

As Always…Good Luck!