Chicago Sun-Times: Blackjack players need to pick right progressive system

Q. Please explain what you mean by "winning progressive" betting. You mentioned it in a column without an explanation. Does it differ from doubling your bet after each loss? I generally play blackjack (I'm relatively new to the game) and $10 a hand (hard on weekends to find anything lower).

Keith B.

A. The latter part of your question, Keith, describes the "Martingale System," a historic name for doubling up after every loss. In essence, you, the gambler, double your previous bet (after a loss), leaning on the statistical certainty that sooner or later you're bound to win. Sounds great, right?

Well, no.

Why is it the worst money management system you can use?

Far too many players believe the Martingale System is foolproof because you have to win eventually. The three problems with this system are: 1) you do not have an inexhaustible bankroll; 2) the casino owns the bank and sets the rules -- like the table limit, and 3) your hourly wage if you win could be something like one cent.

Let me show you how fatal this form of wagering can be. You bet $10 and lose, then $20 to recoup that loss. Then $40, $80, $160, $320, $640, $1,280, $2,560 and finally $5,120. You have just invested $10,230 to get your $10 back. And let us not forget someone like Donald Trump might have his $10 games set with table limits of $500.

A string of six defeats and you're up against the table limit -- maxed out, as they say. On the bright side, they'll probably say; "Thanks, Keith, and have a beer on us."

Ever met a gambler who has not lost six, eight or even 10 hands in a row? I haven't.

The far superior "Winning Progressive" betting method goes like this: You set a predetermined percentage increase to follow any winning bet and pull in your horns after losses.

Example? I increase the bet that follows any winning bet except the first by 50 percent: first $10 bet wins, next bet also for $10 wins, and now we're off on the 50 percent gallop: $15, $22, $33, $50, $75, etc., then drop to the table minimum -- "flat betting" -- after every loss.

Many players increase their bets after a win by 50 percent after the first win. I just happen to be a little more conservative with my hard-earned money and wait out the second win before plunging.

Either way, a winning progressive method of betting will minimize your losses and usually protect your winnings.

Q. Concerning Texas Hold'em, what does the term "nut" mean?

Mayo L.

A. The "nuts" is an unbeatable hand, given the cards that have been dealt and played. Then there is the "nut player," one who plays only premium hands. And finally, there's the "nut," the minimum stake (money or overhead) needed to continue playing this nutty lifestyle.

Mark Pilarski is a syndicated gaming writer. Send e-mails to: pilarski@markpilarski.com.