This is sort of funny becuase I never fully accepted the progressive betting blacjack system. The only system that I'm aware of to beat blackjack is cardcounting, and I realize that card counting may be difficult to do due to the rules in most casinos.
Back to the progressive blackjack scenario. The idea of this is that one progressively increases his bets during a win streak of hands.
Example: Min bet is 10. Every time you win a 2 consecutive bets at a certain limit, you increase your bet by a predetermined amount. The following is an example schedule:
10 10
20 20
30 30
50 50
As soon as you lose a hand, you go back to the minimum bet of 10.
The name of the book that I read on this is Progressive BlackJack by Donald Dahl (in case anyone is interested). I've been suspicious all along of this idea, but intuitively it seemed like the system might have some merit. Assume that the house has a 49/50 advantage or that it's 50/50. The progressive betting system is suppose to somehow make up for the overall disadantage of being an uderdog on your bets.
Now someone please give a math formula to disprove progressive betting
Commentary and questions also welcome.