Flip open any good gambling book on any game and you will come across one common element—Money Management. The game of Blackjack is no different than any other gambling game. If you want to win over the long term, you must manage your money well. It might sound like a simple idea, but probably 99% of all gamblers fail in this category. It’s easy to let your emotions get the best of you. Have you ever been losing and decided to bet more to try and recover your losses faster? Have you ever been winning and decided to lower your bets, because you know a loss is coming?
Proper Blackjack money management involves betting without emotion. This does not mean you need to be void of emotion while playing—go have a great time. Before you play, you need to decide what you main betting unit will be. For example, if you had $200 to spend for the evening, you might want to play $5 units. This will give you forty bets, which is enough to survive prolonged droughts. In general, try to go to the table with enough money for 30-40 bets. If you have $100, you would not want to play $10 hands. For $100, $3 bets are more appropriate.
The game of Blackjack is dynamic and so your bets should be also. If you win, don’t be shy about pressing up your action. If you lose, tone it done some, but never drop below your flat unit. If you were playing $5 units, never bet below $5. If you win, throw on a couple dollars onto the next bet if you feel like it. You should never be in a situation where you are risking more than 5-10% of your bankroll for the evening. Stick to these Blackjack money management guides and you will have more fun.