Parlay Betting System
Blackjack can also be played using the Parlay betting system. The Paroli system is actually a special case of this one, where you bet 100% of your winnings on every progressive bet. This bet management system is based on a positive progression strategy and Parlay is almost the exact opposite of the Martingale system. Another name for the Parlay is the let-it-ride betting system. This strategy can be used in any bankroll size as well. The best part about this betting system is the fact that it is very safe compared to some of the others and this is a huge benefit over other systems.
How the Parlay Betting System Works
The Parlay betting system concept works in positive progression. The more wagers that you win, the greater your next bet will be. This style uses features similar to compound interest betting in blackjack. This is another reason why the Parlay strategy is known as the pyramid betting system as well because with each win, your next bet will be the original wager plus some of the profit.
Here is an example of the Parlay betting system. Let's assume we are playing blackjack and make a $1 bet. If you win, then you would have $2 to play with. So the next bet would become $2 and a win would bring you to $4 and this would double for each bet. It's the opposite of the Martingale system as you are progressing your bet as your bankroll becomes more positive. There are other variations to the Parlay system such as not using all of your profit in progression, but maybe 50% of your profits on top of your original bet. For example, you could make a $1 wager and win $2. The next bet could be $1.50 (your original $1 bet plus 50% of your $1 profit or $0.50).
When should the Parlay Betting System be used in Blackjack?
The Parlay betting strategy is one of the safest ones to use because if you lose your original bet, then you just keep betting the same minimum wager. This strategy is almost exactly the same one used for the Paroli betting system as well. The question should be when to stop using the Parlay betting system when you reach a certain profit or winnings. Because this is nearly the exact opposite of the Martingale system, you need to keep winning so many hands in a row to get a huge profit. If you are using 100% of your profits in positive progression, then winning 10 hands in a row could make you $1000 richer on an original bet of $1.
The problem is knowing when to stop betting. The Parlay system works like a ladder betting system, each win starts you up the ladder (or winning streak). If you did make $1000, which is not that unheard of, you need to decide when to stop betting and restart your "pyramid" at the original dollar bet. Essentially, if you are 10 rungs up the ladder, you want to settle with these huge profits and then start at the bottom of the ladder again.
The trick is cashing in on your Parlay betting run to prevent losses. If you were to continue betting, then you are risking all of your $1000 profits in a single bet. If you lose, then you end up $1 less than when you started your winning streak.
Personally, this is one of my favorite betting systems because of how exciting blackjack becomes and how much realistic profit is generated. It is also the safest one to use and the one that can yield the best profits. Blackjack and the Parlay betting system gets spiced up when you use basic blackjack strategy and card counting. With card counting, you already have an edge over the house, so you will always keep winning in the long run. The Parlay system just makes your winnings that much better. As long as you know when to stop and not risk on a continuing winning streak as your odds of winning get lower with a larger winning streak.