Money Management Systems

A good start to money management when you play blackjack is to set out what you can afford to play or, more importantly, afford to lose. Do not risk the wrath of the wife by losing the rent money.
There are systems that are in use by people to help themselves manage their money in the event of a losing streak. This is an unfortunate part of the game but will be faced by everyone at some stage.
People use different systems including the progressive betting systems like the Fibonacci. The Fibonacci sequence of numbers are the sum of the last two numbers and goes like this 1-1-2-3-5-8-13-21-34-55-89-144 etc.
With this system, say you bet $5 and lose, then you bet $5 again. Lose and then you bet $10. Lose and then you bet $15. Lose and then you bet $25 until you win then you fall back one on the series. Win that and it goes back to the start.
An example of a popular up as you win system is called the Dahl Progression and is said to give the player an edge. To use this system a player starts at $5 and wins two bets, he then ups his bet and wins two bets then ups again and so forth. The sequence would play like this $5-5-7-7-10-10-15-15 etc. If you double down on a bet then you move up two and if you pull up a blackjack then you move one along the sequence. A loss and it’s back to the start you go.
The vast majority of systems in place take their place behind the Martingale system which is certainly the best known throughout the world. When using this system the player doubles his bet after a loss until he wins.
There exists a Reverse Martingale which means you double your bets after each win instead of each loss. Although if you lose at this you have lost all your wins plus one. Not a great idea.
A technique called the Kelly Criterion is used the most frequently to help players keep an eye on their money and is very easy to use. If the advantage you have over the house is one percent then you multiply this by your bankroll. Therefore if you enter the game with a bankroll of $500 then your first bet is $5. Should you win another $500 then it is up to $1000 meaning you bet $10. The major advantage in this is if you lose then you adjust downwards. If your bankroll becomes $250 then you bet $2 until you win. A lot of players become even more cautious when playing and play a half Kelly which is the same as the normal Kelly but halved.
The systems mentioned are not infallible so don’t swear by them but they are useful to know and can help you set up your own system to try to beat the dealer. Just remember that it is not good to lose, especially if you cannot afford it.