What you need to do first is decide on your stake amount. For instance, you are going to stay in Las Vegas for 4 days and you have “play money” of $1,000. The wise thing to do is divide this amount into 4 parts and only play with one part i.e. $250 each day. If on the first day you lose the $250, do not go ahead. Wait until the next. This is going to tests your level of self-discipline because you need it a lot.
What you need to do next is avoid putting your entire daily wad at once. Out of the $250, take out $100 and get your chips and begin to place your stake conservatively. You need to stretch out your playing experience and play through the ups and downs. Ensure you look out for the minimum amount for the table.
Assuming you take your first $100 and bet with $5, and you lose the bet, what are you going to do next? A lot of players will double their bet amount with the hope to recover the lost amount by winning. This is commonly known as throwing good money after bad. What you need to do is keep on betting with the $5 and if you lose 3 or 4 bets in a row, change tables or take a break.
Do not throw good money after bad.
Now, assuming you win that first $5 bet. On the next bet, you should increase your bet amount and make it $10. If you lose, go back to your original $5 bet. If you win, keep on increasing your bet amount. Do not double the bet amount each time; only make it a bit bigger.
So, this time your wager is now $15. Again, if you lose, go back to the initial $5 bet. If you win, increase it again to $20. In this way, you will be increasing your bet while still retaining some of your winnings. Once the winning streak is over, always go back to your initial bet. Don’t walk away from the table saying “I wish I had bet more”.
Each time you play blackjack, you will notice that there are up and down streaks. You need to minimize your losses when you lose and increase your bets when you win.
One time when I played in Canada, there were five of us on the table. Prior to that time, I had a bad day and just sat at the table and immediately started winning. This was a $5 minimum and that is what I started the bet with. I kept increasing my bet as I was winning and in about an hour, I won more than $3,000. All my tablemates were betting the same $5 per hand whether they won or lost. Though they all won, it was not much. They could have won so much more if they knew the correct strategy.
So, make sure you plan your money strategy as wisely as you plan your playing strategy. Self-control, smart betting, and riding the winning streaks, will win you much more money. Good luck.