Doubling previous bet - My Experience

[XxGuardiaNxX]

I'm new here, but have been reading threads lately (mainly betting strategies). I myself would like to just share an experience to give a warning to other new blackjack followers like myself. It seems like when people first learn about the progressive/martingale strategy they go nuts. Just like myself, I thought, "wow this is amazing. I'm basically guarenteed to make money. As long as I don't lost a bunch in a row I'm safe; because that would be like flipping a coin and landing on heads 8-10 times in a row."

But as most of you could probably guess, that theory is wrong haha. I know I've seen the math somewhere, and the chances of you losing around, say 8 in a row, are maybe .5-1%

While this may seem you have an amazing shot it's not. It took me losing my money to look again at the number and say to myself: this means if I play 100 hands this will probably happen once.


So anyways... here's my story:

I started with $50 of my own money. Things were going very well and I was using $1 bets. Eventually after making my way to about $2-300, I increased bets to $5. Money then was coming in even faster. It seemed like my cards and money were just rolling on in. I was so happy. Before you know it, here I was at about $1300. I thought to myself, I'm going to settle down and cash the cheque at $1500. Shortly after, the unthinkable happened. Of course, I lost over and over again until I maxed out he big bet. This happened yet again shortly after.

So, take it from me please. QUIT WHILE YOU ARE AHEAD. Don't get selfish. I wish I didn't.



Anyways, I just have a question. Is it unheard of for casino's to have a maximum bet above $1-2,000?

 

[avs21]

I'm new here, but have been reading threads lately (mainly betting strategies). I myself would like to just share an experience to give a warning to other new blackjack followers like myself. It seems like when people first learn about the progressive/martingale strategy they go nuts. Just like myself, I thought, "wow this is amazing. I'm basically guarenteed to make money. As long as I don't lost a bunch in a row I'm safe; because that would be like flipping a coin and landing on heads 8-10 times in a row."

But as most of you could probably guess, that theory is wrong haha. I know I've seen the math somewhere, and the chances of you losing around, say 8 in a row, are maybe .5-1%

While this may seem you have an amazing shot it's not. It took me losing my money to look again at the number and say to myself: this means if I play 100 hands this will probably happen once.


So anyways... here's my story:

I started with $50 of my own money. Things were going very well and I was using $1 bets. Eventually after making my way to about $2-300, I increased bets to $5. Money then was coming in even faster. It seemed like my cards and money were just rolling on in. I was so happy. Before you know it, here I was at about $1300. I thought to myself, I'm going to settle down and cash the cheque at $1500. Shortly after, the unthinkable happened. Of course, I lost over and over again until I maxed out he big bet. This happened yet again shortly after.

So, take it from me please. QUIT WHILE YOU ARE AHEAD. Don't get selfish. I wish I didn't.



Anyways, I just have a question. Is it unheard of for casino's to have a maximum bet above $1-2,000?

Their are a lot of places that have max bets $1-2000 some up to 10,000. The min bets will not be 1$ though. It is hard to find a place that has 1$ min bet.

 

[Mikeaber]

$1

I "KNOW" of only one place in Vegas that still has $1 minimums on Blackjack...Slots-O-Fun. There could be others of course. I do not know what the maximum is on that table...I never played it. People were two and three deep trying to get a seat at it.

 

[hopson77]

Being the beginning counter that I am, currently working on a bankroll, I could play a $1 game with a 1:20 spread...

Counting down a deck is still taking me longer than I like, about 32 seconds. I've never really had a problem keeping the count in a casino setting, unless I had a few too many and stopped caring.

Note to self, no more alcohol at casinos...

 

[XxGuardiaNxX]

If there was an online casion that had something like minimum $1, maximum $5,000, then maybe you'd be in business. Has anybody ever had a losing spree of 12-13 hands? lol

 

[supercoolmancool]

If there was an online casion that had something like minimum $1, maximum $5,000, then maybe you'd be in business. Has anybody ever had a losing spree of 12-13 hands? lol

Yes...and the funny thing is that whenever I martingale I never get very far. I usually lose my 6-10 straight right away.

 

[XxGuardiaNxX]

So I know mathimatically you could lose 100 hands in a row, but really that wouldn't happen. Would do you think would be a safe number?

 

[ihate17]

Perhaps over 100 of them easily!!!!!!!!!

If there was an online casion that had something like minimum $1, maximum $5,000, then maybe you'd be in business. Has anybody ever had a losing spree of 12-13 hands? lol

You really have to be kidding here. Every simulation done on the subject will prove out that in an approximate 24 hour period of blackjack you should have one 10 or more hand losing streak. I have had at least 3 streaks of over 20 hands with the most being 22 or 23 and if you want to count doubles and splits as more than a single hand it would be higher. Now I have played for many years and I do play quite a few hours per year, but the numbers are there and everyone will eventually run into them. 12-13 hands hurt, but it can be much worse.

ihate17

 

[ScottH]

So I know mathimatically you could lose 100 hands in a row, but really that wouldn't happen. Would do you think would be a safe number?

There is no safe number. A martingale of any size will eventually lose money in the long run. The longer the martingale the more likely you will make money in the short run, but your one big loss will be even bigger, and will still wipe you out.

 

[Mikeaber]

Another game enjoyed by Martingale players is Russian Roulette.