Parlay Betting System

Parlay Betting System Table of Contents

Blackjack is a skill-based game and as such, it gives you the opportunity to increase your chances of winning by applying a strategy. Nowadays, you can find a number of methods that have been especially designed to help players improve their game in one way or another. The basic strategy and card counting are some of the most popular methods that gamblers use in an attempt to make a positive impact on their hand.

However, there is also another type of strategies whose aim is to help you increase your winnings rather than decrease the house edge. The many available betting systems concentrate on doubling your profit and they don’t influence the outcome of your hand. One of the most well-known betting systems is the Parlay Betting System which is used by many blackjack players.

Brief History

A game of Basset, also known as barbacole and hoccaIt is believed that the origins of the Parlay Betting System can be traced back to the 16th century. The system was used for the first time in Italy, predominantly by the upper-class members of the society for a card game called basset. In this game, players completed against a banker and all of their winnings were kept on the table. Every time a player bet, the amount of their winnings was doubled in size and this type of wagering became known as ‘parlay’. Today, this betting system is also called ‘Let it Ride’ or ‘Pyramid Betting System’ and it is one of the most widespread strategies of this type.

Overview

The Parlay Betting System is classified as a positive progression system which is quite similar to another famous strategy – the Paroli Betting System. Its main concept is to help you increase the amount of your profit gradually and you are required to only wager the money that you’ve already won. This way, you don’t have to use your own bankroll in order to win a decent amount of money. The size of the bet that should be placed next, depends every time on the outcome of your hand.

Before you start playing, you are required to determine the initial amount of your first bet which should be in accordance with your bankroll for the day. The size of the original wager is strictly individual and it should correspond to your available funds and gaming style. Every time you win, you are required to increase your wager and when you lose, you should decrease the size of your next bet. Once you get the amount of your initial wager in winnings, you should use only these funds to place bets. Another important thing which you should take your time to determine beforehand is your win limit. It is essential to set a realistic amount which can be achieved as this will help you figure out when it is time to leave the table in order to retain your winnings.

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In general, the main idea behind this system is to help you accumulate money by using your winnings or in other words, the funds that once belonged to the casino.

How to Apply the Parlay Betting System in Blackjack

Blackjack Live DealerThe Parlay Betting System is used in many casino games, including blackjack. In general, it is considered to be a fairly moderate system due to the fact that your bet should be doubled in size every time you win. While it is true that you can influence the outcome of every hand by using a basic strategy, it is not possible to predict whether you will lose or win. You can only learn your odds of winning in certain situations and do your best to make the most beneficial move. Blackjack is a casino game and as such, it will always involve a certain dose of risk. This is the reason why you should proceed with caution and strictly adhere to your win limit.

Many blackjack experts advise that it is wise to use this betting system for a maximum of three sessions. The reason why is that if you win three consecutive times, you will most likely make up for all your previous losses and you will get a small profit on top. The key is to figure out when you should stop and start wagering your initial bet again in order to retain your winnings.

If you want to make a profit by using this system, you should know how to apply it correctly. In order to clarify how the Parlay Betting System works best, let’s have a look at the following situation. Let’s assume that you have set the amount of your initial bet to $10 which is one betting unit. You should start by placing a $10 bet and your next wager will be determined by the outcome of your hand. If you lose, then you are required to place the same amount of $10 and you should continue following this pattern until you win. When you win you will get $15 and you should place a bet which amounts to $25. You are required to stick to the same pattern and increase your bet as long as you continue winning. When you lose, you should start from the beginning by placing a $10 bet.

When it comes to the correct implementation of the Parlay Betting System, it is recommended to take your time to choose a blackjack table whose betting limits are suitable for your strategy. It is really important to join a game whose table minimums correspond to your bankroll as only then you have realistic chances of winning. Another thing that should be noted is the payout the game offers for a particular bet as it determines the amount of your potential winnings. You should bear in mind that in most cases the payout for blackjack is 3/2 and the rest of the bets usually pay even money.

Blackjack Parlay Betting System
Bet Number Bet Size Hand Outcome Net Winnings
#1 10 LOSS -10
#2 10 LOSS -20
#3 10 LOSS -30
#4 10 WIN -20
#5 20 BLACKJACK +10
#6 50 WIN +60

Pros & Cons of the Parlay Betting System

One of the best advantages the Parlay Betting System has is the fact that you are required to use your winnings for your next bets. This prevents you to some extent from spending more money than the amount you have initially decided to use. Furthermore, this way you can increase your bankroll by using the casino’s funds. Another beneficial aspect this betting system has is that you don’t have to make any tough decisions for the amount of your next bet any more. You can simply follow the pattern this system offers you and adjust your wagers according to it. However, you still have to figure out when you should withdraw from the game in order to retain your winnings.

Perhaps, one of the biggest disadvantages of this betting system is that you are required to increase your bets when you have no guarantee that your next hand will be a winning one. Moreover, in order to accumulate enough winnings to make a profit, you need to win quite a few consecutive hands. And if you are on a winning streak and you bust once, you will most likely lose the money you’ve won so far.

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It is highly advisable to set a win limit and strictly adhere to it during the game.

Conclusion

The Parlay Betting System is considered to be a fairly good betting system for disciplined blackjack players who can leave the table when they are ahead. This system is one of the oldest betting methods and it can be also applied in other casino games. It is not as extreme as some other betting systems used in blackjack which makes it more reliable and efficient. If combined with the basic strategy, it can significantly increase your chances of making a decent profit.