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Blackjack Betting Systems: The Parlay |
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The Parlay Progressive Blackjack Betting SystemThe Parlay betting system is a progressive betting system that can be used when you play blackjack. The Parlay system is similar to the Paroli progressive betting system in that it is a positive progression system for which the goal is to build — or pyramid — your profits.
Like all progressive betting systems the Parlay should be used in conjunction with the blackjack basic strategy to optimize your playing potential.
Parlay Is a Positive Blackjack Betting SystemA positive betting system is one in which the player rewards a win by increasing his bet and reduces his bet after a loss. In the case of the Parlay system, when a player wins he bets his winnings plus his original bet and continues to do so on each successive winning hand. When he loses he goes back to his original bet.
In non-gambling terms, Webster's definition of "parlay" is to "use one's money, talent, or other assets to achieve a desired objective, such as spectacular wealth or success." In gambling terms to parlay is to gamble an original amount and its winning on a subsequent race or hand. So the Parlay is a logical name for this system.
The Parlay is also called the "Let it Ride" system since when you win you leave your winnings on the table and let them ride to the next hand. A type of parlay system is also commonly used in horseracing. It is also based on the same idea that banks use when they compound interest, giving interest on the balance for one quarter and then giving interest on that sum plus the interest the following quarter and so on.
Parlay Blackjack Betting in Practice
| To better understand how the Parlay betting system works, let's use real numbers. Our sample blackjack player is playing at a table with a minimum real money bet of $10 and he is a conservative gambler so his initial blackjack bet is $10. Let's say he gets a blackjack — he is paid 3:2, which means he is paid $15 on his $10 bet plus he gets his original bet returned to him. Since he is using the Parlay system, which instructs him to use his profit ($15) plus his original bet ($10) as a bet on the next hand, he places the $25 bet on the next hand. |
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If he continues to win at blackjack, the player sticks to the same pattern of betting. If he loses, he goes back to his original bet. It is also a good idea when using the Parlay — or any progressive betting system, for that matter — for the player to set a maximum bet in his mind before starting to play. The down side of the Parlay blackjack betting system is that even a hot winning streak can end and a huge bet can be lost unless the player decides beforehand to quit while he's ahead at some predetermined point.
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