Blackjack Money Management Strategy

Once you have your basic strategy charts and your winning blackjack formula, the next step is to have a sound blackjack money management strategy in place.

Bankroll management is key to becoming a successful blackjack player, and the same principle also applies to all other casino games such a roulette, poker, Sic-Bo, and baccarat.

It does not matter whether you a whale, highroller, or low-ball player betting super high to super low stakes games, we all need a ‘casino money management strategy‘.

Sometimes we need it because we are on a budget and simply cannot afford to play 20 sessions a month betting 1 mBTC per hand ‘or’ maybe you have a stack of crypto or cash stashed away but you want to make sure you keep your budget in check so you can lay claim to being a winning blackjack player!

For whatever reason you need to manage your bankroll while playing blackjack, you will find that taking a strategic approach will help you become an established blackjack player – that is opposed to being a player that throws money away for the sake of it.

Let’s face it, we all want to beat the house, so why not do it like a pro? Whether you are flush or on a budget, having a money management strategy Vs just playing with no betting strategy in place can make the difference between becoming an effective blackjack player or a leaky one!

Here are just some of the benefits of having a sound Blackjack Money Management Strategy:

  • You can avoid chasing your losses
  • Learn when to quit while you are ahead
  • Play for longer and gain experience at the tables
  • Run through downswings and into upswings more often
  • Reduce your losses and increase your winning sessions

Dedicated a Weekly or Monthly Budget and Stick to It

Before you hit the blackjack tables, you need to decide how much you can afford to lose. For some casino players, going into the casino with the kind of mindset thinking that they could lose is against their basic principles because confidence means success.

While this mindset may work in the world of business, making friend, or when chasing the opposite sex, it is one that can get you into hot water when playing Blackjack.

On every blackjack game in a land-based casino or online, the house edge is always in favour of the house. What’s more is casinos make no secret of this fact. If the casino tells us the house edge is 0.5%, then it is also saying “hey look, I have the advantage here” but you still have a chance to win.

To beat that house edge, you need a strategy. Firstly, you should always play ‘basic strategy’, but this is not always enough to guarantee that you will win or reduce the house edge. Even seasoned blackjack players that play perfect blackjack strategy during every session over a week or month still hit downswings occasionally.

Therefore, make sure you prepare yourself for the same scenario. You always need to go into a blackjack game with a mindset fully aware that things may not go your way no matter how well you play. Stick to a weekly or monthly budget that you can afford. Once you reach that budget, stop playing until the next week or month.

  • Set a monthly budget and remain disciplined
  • Divide the budget up into a weekly budget
  • If you lose your weekly budget, wait until the next week

Plan Your Bet Sizing According to Your Budget

Once you know how much money you can afford to play with each month, the next step is understanding your bet sizing limits. Pinpointing or fine-tuning your bet sizing strategy can take months to master, so we are going to tell you what bet sizing is and where to begin.

Bet sizing is as the name implies. It dictates the size of each bet you can afford to make. It is an important Blackjack money management strategy that will help you avoid steamroll through your budget too quickly.

It also helps you choose the correct ‘table limit‘ according to the way you play blackjack. You can decide which table limits are correct if you use progressive strategies to play blackjack or whether you choose to stick to a fixed or slightly variable stakes.

Let’s look at an example…

Jack Bannon’s Live Dealer Blackjack Sessions

Jack Bannon sets himself a budget of 100 mBTC for the month. He breaks this down into 25 mBTC per week which is very sensible indeed.

Now over the course of a week Jack wants to play at least 1 hour of Blackjack every day and maybe 4 or 5 hours over the weekend. He plays on the Evolution Blackjack tables so he is playing live dealer games that can take around 1 minute per hand in peak hours.

Jack’s Weekly Scenario

  • Budget of 25 mBTC per week
  • 10 Hours per Week
  • 60 Hands Per Hour
  • 10 hours x 60 hands = 600 hands
  • 25 mBTC ÷ 600 hands = 0.042 mBTC per bet

A close estimate is that Jack will play roughly 600 hands per week. If he lost every hand betting 0.42 mBTC, Jack would be at zero.

Let’s say he is playing an Evolution Gaming blackjack table with a house edge of 0.72%. The theoretical RTP is 99.28%. If Jack bets 1 betting unit per hand, it will mean Jack bets 600 betting units per week. In theory, he should win 595.68 units back, but the world of Blackjack and theoretical odds does not work as smoothly as this because the RTP explains the long term expected return.

We will work on the basis that Jack will win 200 hands (33.33%) which is a safe and sensible prediction:

  • ‘200’ betting units ‘out’ & ‘400’ betting units ‘in’ on winning hands
  • ‘400’ betting units ‘out’ & ‘0’ betting unit ‘in’ on his losing hands
  • ‘600’ betting units ‘bet total’ & 400 betting units ‘returned’
  • His ‘predicted loss’ for the week is ‘200’ betting units

Now the question is, how do we figure what 1 betting unit is worth?

Jack needs to make sure he can lose 400 hands in this calculation. Now although this is not rocket science, it is a way to figure out your minimum bet.

  • 25 mBTC ÷ 400 hands = 0.0625 mBTC per bet
  • Rounded up to 0.1 mBTC per hand
  • Round it down to 0.05 mBTC per hand

The option now is to round up the betting units or round them down. It is entirely up to you how you want to bet your money. At least by using a formula similar to this, you get to limit the chances of burning through your bankroll too quickly.

Are there less complex bet sizing systems?

If you are not someone that wants to go through the mathematical rigmarole of figuring out your idea bet sizing system or you are using negative progression and positive progression betting strategies that may interrupt the above system, then there are system out there.

The 10% Bet Sizing Strategy: This system was born in poker. The idea is to only enter onto a poker table with 10% of your entire bankroll. This way if you plan on playing for an hour but lose within 30 minutes, you can just leave the table. On the other hand, if you win and your hour is up, then great. You will have more money for your next session.

For example, if you go in with 10 mBTC and come out with a 20 mBTC profit, your next Blackjack table session will begin with 2 mBTC which is 10% of your 20 mBTC profit. You will still need to set yourself a sensible minimum bet, so you do not burn through your 10% in just a few unlucky hands.

Now a good reason to use this strategy is because it is more liberal than the mathematical one explained above. Using the 10% rules is useful if you need flexibility to grind out session playing strategies with positive or negative progressive betting systems.

  • Enter each session with 10% of your entire monthly bankroll
  • You still need to set yourself a minimum bet
  • Great for trying out new blackjack systems

Build Up a Blackjack Bankroll as Your Game Matures

One way to become a profitable or more consistent blackjack player is to build up a bankroll. You can build up a bankroll by winning often and/or topping it up from your monthly earnings when you need to.

A common mistake that many blackjack players make is to increase their minimum bet limit too quickly when their bankroll increases. To efficiently build a blackjack bankroll, you should see this as a new Blackjack money management challenge. Rather than treating it as a race, try to have the time and patients to build your bankroll.

Some months when you win big, you will not need to add any additional money to your bankroll. Alternatively, if your bankroll is improving and your ‘basic strategy’ and ‘card counting’ technique is now in advance stage, you can try higher limits.

How big does your bankroll need to be?

To determine how large your bankroll should be, use one of the formulas in the above section covering bet sizing.

The size of your blackjack bankroll will entirely depend on:

  • How often you play
  • Your weekly or month sessions
  • The number of hands you play
  • The betting strategy you use
  • The blackjack table’s bet limits

It takes time and experience to manage your bankroll correctly and along the way you will enlighten yourself. Think of it in the same way as you manage your day to day finances. You know your income and your outgoings, you know surprise costs arise, and these numbers can change according to your habits, new hobbies, and changes in your life circumstances.

The same twists and turns can apply to managing your blackjack bankroll except you can add a little more consistency as life tends to have many more variables to consider compared to blackjack!

If you want to take the route of building a blackjack bankroll, then set up an account dedicated for this purpose, and only top it up when you need to and if you can afford to do so.

  • Try not to raise your minimum bet/bet sizing too quickly
  • Take your time building a blackjack bankroll
  • Top up your bankroll only when you need to
  • Have a dedicate account or wallet for your blackjack bankroll

Learn How To Avoid Leaking Cash or Crypto

In this section, we are going to cover some tips that affect and influence the way you bet. Learning how to control each of these situations will help you improve your blackjack money management strategy.

Below we provide you with some tips that will help you reduce your losses, increase your chances of winning, and maintain your blackjack bankroll.

Know When To Quit & When To Avoid Playing

There are times when it is difficult to stop playing which is a common trait with problem gambling. To manage your blackjack bankroll more efficiently, you also need discipline and that means avoiding the common traits that go with chasing your losses.

  • Avoid adding more money if your budget runs out
  • Avoid increasing your bet sizes to chase losses
  • Stop playing if you are feeling agitated
  • Do not play when you are tired or intoxicated
  • Avoid playing for longer than you planned (Win or Lose)

Avoid Placing Money On Side Bets

Another money guzzler at the blackjack tables is the side bet options. These bets often have a far higher house edge than any other bets in the casino. As you can see below, 2 of the most common blackjack side bets you will find in land-based and online casinos come with a far higher house edge than the regular blackjack play.

21-3 Side Bet

  • 4 decks: 4.24% House Edge
  • 6 decks: 3.24% House Edge
  • 8 decks: 2.74% House Edge

Perfect Pairs Side Bet

  • 4 decks: 8.2% House Edge
  • 6 decks: 4.2% House Edge
  • 8 decks: 2.2% House Edge

Play Basic Strategy

If you use the correct basic strategy charts, then you will play mathematically correct blackjack. Most blackjack tables come with a house of edge of roughly 0.5% although variations to the rules change this percentage slightly. However, if you play blackjack without using basic strategy, then the house edge rises to around 2%.

  • Basic strategy helps you to play mathematically correct blackjack
  • Using basic strategy will help you avoid losing 1% to 2% of your bankroll

Understand The Rules of the Table

To make sure you use the correct basic strategy, check that you know and understand the rules of the particular table your playing at. Playing with the wrong basic strategy charts can defeat the object of using this proven mathamatical approach and result in handing back a percentage of the house edge to the casino.

Check out our ’10 Strategies on How to Play Blackjack and Win at Casino Tables’ guide.

One way to play for longer at the blackjack tables is by taking advantage of bonus deals and promotions. If the wagering requirements are fair, and the rules of the bonus deal allow you to play blackjack tables using bonus money, then a bonus deal may work for you.

Most online casinos will offer you a bonus deal that gives you ‘bonus money’ or ‘bonus cryptocurrency’. For example, a 50% reload bonus will match your deposit by 50% up to a certain limit. You could deposit 1 ETH and the casino gives you 0.5 ETH in bonus crypto.

That bonus crypto could then have 30x wagering requirements attached to it. To convert it into crypto you can withdraw, you will need to bet meet the wagering requirement bonus terms.

If you are an established blackjack player, you have every chance of metting the casino’s wagering requirements or at least a portion of them which can go a long way to helping you build up your blackjack bankroll.

For more information about casino bonuses, take a look at our ‘Good Bonuses vs Bad Bonuses at Online Casinos’ guide. You will find numerous ways to identify what a good bonus is and how to choose the right bonus for you.

Important points to look out for when choosing a bonus:

  • Check the (%) that blackjack bets contribute to the wagering requirement
  • Check the min-max bet rules and table limits you can use the bonus on
  • Check which blackjack tables accept bonus bets

Practice your Blackjack Money Management Strategy at mBitcasino

At mBitcasino all of the blackjack tables accept cryptocurrency. You can play using BTC, BCH, LTC, ETH, XRP, USDT, or DOGE. That means storing your bankroll and practising Blackjack money management strategy is much easier using crypto compared to fiat currencies.

Opening a new bank account can be a headache but opening a crypto wallet is easy these days. You can check out the different accepted mBitcasino payment methods here. Once deicide which wallet you want to use, you can top it up monthly using the accepted payment methods from your bank or you via another crypto wallet.

Meanwhile, mBitcasino has no shortage of amazing blackjack games available. For live dealer blackjack click here. You can play Blackjack on some of the best live dealer tables online today.

Tables from Evolution, Ezugi, and Pragmatic Play Live give you luxury live tables, friendly live dealers with builtin chat functions so you can converse with them, and most importantly of all, you get a real to life blackjack gaming experience played from your PC, laptop, Apple, Max, Tablet, or Smartphone!

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