Blackjack is one of the most popular games to be found in casinos both live and online along with poker at the big sites. If you take your gambling seriously then you will know that Blackjack is one of the very best games to play because of the reduced house edge.
You can play basic Blackjack strategy for a long period of time and come out of the game even.
But who wants to come out of the game even right?
Players are always searching for systems in order to try and maximise their profits and one of the very old, tried and tested gambling systems is known as the Kelly Criterion. Card counters mainly use the Kelly Criterion but alas do not worry; you do not need to be part of an ace MIT card counting gang to understand how it works.
The Kelly Criterion is all about the size of your bets, sometimes known as the Kelly Formula. In essence, the Kelly Criteria is a mathematical formula and it is used for long-term strategies and not short-term gain. The main premise is to bet a certain percentage of your bankroll that equates to your edge in the game. Getting back to card counting, when the deck is in your favour and you raise your betting amount you are in fact putting the Kelly Criterion into action.
While it isn’t certain that you will make a profit, it does maximise your profits when they come. Conversely it doesn’t guarantee loss-free sessions, but does minimise them. John Larry Kelly created the Kelly Criterion in the 1960s.
Remember that certain games are linked to mathematics very closely and blackjack is one such game. This is what makes blackjack and poker so closely linked and when one has expertise and knowledge in blackjack then the links with poker become apparent. I for one know the true value of position in both of these excellent casino games. The dealer acts last in blackjack and so often wins even after they have bust their hand.