Parlay betting system in blackjack
Progressive betting system, called “Parlay” or “Let It Ride” is one of those systems which were optimized for playing blackjack online. It uses the same techniques as many other systems: minimize possible losses and obtain maximum profit when players are on winning streak. It also has one special feature: the best results it will bring when used with basic strategy.
“Parlay” betting strategy could be also called “positive”, because if player wins – they should increase their bet size, and when they lost – it should decreased. To describe the system in two words, it could be said that in case of winning, next hand player should bet their winnings + initial bet.
Let’s describe the system using a simple example. In most online casinos the minimum bet size is about $2-$5, and the min. bet is called “unit” for more convenience. The first bet will bet 2 units ($10). Player won the first hand by getting the highest combination – Blackjack. In this case the payout will be 3 units, and player gets back 5 units (3 units win + 2 units bet).
According to the system player should make the next bet of 5 units, and if they won the second hand too – the third hand should be of 10 units. Player could continue betting in this manner until they decide to make a break, collect the net profit, or until they bust. In both cases player should start the next betting round with the original 2 units bet size.
Bit it’s also important to remember that in any case winning streak cannot be endless and players have to stop at the point they feel it’s possible and start making lower bets if they don’t want to lose all their money.