Money or chip management strategies are just as important in blackjack tournaments as they are in poker tournaments. Blackjack contests usually have a set amount of hands played in each around. We will use 20 for our example here. When playing in a blackjack tournament, the most important thing to remember is that you are playing against the other people at the table as well as the dealer. So, if the dealer is winning and seems to have a great luck, it might be wise to bet small so you outlast your other opponents.
Just like in live blackjack games, you are betting against the dealer. However, you need to be aware of how many chips and what kinds of hands the other players at the table have. With 20 rounds of play, betting small may be beneficial to you since your number one goal is to have money at the end to move on to the next round. For example, if you have $500 worth of chips and bet just $20.00 for each blackjack hand, there is no chance of you running out of all your money by the end of the 20 hands. Of course, betting more will increase your chances of building a larger stack, but it also greatly increases your chance of losing everything and being eliminated.
The safest strategy includes betting small so you reach the last five hands with most of your chips stack intact. Of course, if you have a particularly good deal somewhere along the way, you can take more of a risk to tried to boost the size of your stack earlier in the game. Many people raise their bet by about 50% after they win in hopes that their luck will hold out. This helps you build the amount of your chips more quickly. When you begin to lose again, reduce your bets until your luck changes.
In a blackjack tournament however, you must play according to the piles of chips in front of the other people at the table. If you have $500 but the guy next you already has over $1000, playing it safe may not be an option. You’re gambling on the chance that he continues to bet aggressively and has a serious string of bad luck. If you are this far behind with a smaller chip stack, you need to start betting more to tried to catch up or pass him. If two players advance to the next round, watch the lowest player’s chips and just tried to beat him. Once you are considerably behind the leaders, trying to hold onto your stack with conservative bets makes little sense because you will be eliminated anyway.
If your opponents at the table maintain a stack of chips similar to your own, the proper blackjack tournament strategy is to relax and wait. Once there are a few hands left to play in that round, begin to bet more aggressively in order to increase your stack of chips. This gives the other players more of a chance to go bust before you do. If they are also playing intelligently, reassess your strategy as you go on. By the 14th hand, if you are behind everyone else, it is time to get aggressive. If you are equal or only slightly ahead of them, bet only enough to push yourself into the leader position without risking everything.
Blackjack Tournament (part 1)
Blackjack Tournament (part 2) – Structure of a Blackjack Tournament
Blackjack Tournament (part 3) – Questions to Ask
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