Betting system---what's it called?

[TeenerBall]

I returned yesterday from a jaunt with a friend to the casino. We played blackjack and I talked him into betting with this system I had heard of. It goes

1. Bet one unit ($5) if win, step 2, lose, repeat step 1
2. Bet 3 units ($15) if win, step 3, lose, go to step one
3. Bet 2 units ($10) if win, step 4, lose, go to step one
4. Bet 6 units ($30) if win, you have won 12 units, repeat as desired.

After 6 hours of play, between us we were up 250 bets ($1250) all at the same table and always with other players. I lost alot of the 6 unit bets, but it seemed like the only blackjacks I got were on those bets as well.

Not to brag, just seeing if anyone knows the name of this system we were using, I'd like to read more about it.

Thanks

[charlie_t_jr]

http://www.bj21.com/bj_reference/main.html

Read about the progressions, but I don't think you'll like what you'll see.

[Iceman]

A betting system doesn't change the odds, it just redistributes your wins and losses. For a non-card counter, the odds are always in favor of the house no matter what betting system you use. Betting a constant amount every time would give you a mix of small wins and small losses, while this system gives you a few huge wins and many tiny losses, but your long-term results will be similar.

[RocketManJames]

Can someone provide a progression where the distribution will be where you'd get a good number of small-medium wins and a very (I mean *very*) small number of large losses? I understand that the end result will be a net loss with a -EV game, but the reason I ask is this...

On average, I take 2 trips to Vegas each year. I usually play poker, but I usually throw some "entertainment" money at the other games, usually BJ. What would be nice is if 95-8% of the time I come out a small-medium winner, and 2-5% time I come out a significant loser (in terms of bets).

I think that would be a "fun" thing for me to try... I'll expect to come out winning from poker, and once in a while I'll lose all of what I won playing poker at BJ. I will force myself to play BJ for much smaller stakes than poker.

-RMJ

[Iceman]

"Can someone provide a progression where the distribution will be where you'd get a good number of small-medium wins and a very (I mean *very*) small number of large losses? I understand that the end result will be a net loss with a -EV game, but the reason I ask is this..."

The Martingale system - start at 1 unit, double your bet after each loss, and return to 1 unit after each win. You get loads of 1 unit wins, with a small but realistic chance of a very large loss.

[RocketManJames]

Thanks, Iceman. Was hoping to see something other than Martingale, but maybe that's the purest form of "win small amounts a lot, lose big once in a while."

-RMJ

[Cheeseweasel]

Initialize the betting at 0. After each win, loss, or tie, reduce the bet by 1.

[CORed]

There are several "negative" (increase bets if you lose) progressions that are less agressive than a Martingale. All will increase your chance of a small win at the expense of increasing your chance of a big loss. Oscar's Grind is the only one that I can think of off the top of my head. I don't remember the exact rules for it.

[CORed]

[ QUOTE ]
Initialize the betting at 0. After each win, loss, or tie, reduce the bet by 1.

[/ QUOTE ]

This only works for -EV games. Do you see why?

[KeyToTheMint]

It's a paroli.