Blackjack
Not many casino games give players the chance to influence the outcome of each round.
Who is the Kelly Criterion Strategy for?
Using the Kelly strategy, you will know exactly how much to stake on that bet.
It does not guarantee you will win every time.
There are two ways to use the Kelly Criterion when playing blackjack.
Either, you calculate one value before playing and then use it throughout your gaming session.
It is best to start simple and try playing without adjusting your stake.
The Kelly Criterion itself.
This is a number between 0 and 1 that represents how aggressive you want to play.
If you set it at 1, then you are playing full Kelly.
But you don’t have to.
you might also play Half Kelly that is setting the criterion value at 0.5.
Why is this important?
it’s possible for you to simply calculate the Half Kelly stake and start with that amount.
Now you will spot an inconsistency here.
When you start a game of blackjack, the house will always have an edge over you.
you could bring it down to 0.5%, but the odds are still stacked against you.
If ever so slightly.
But you will need to create that bankroll.
You must only play with amounts that it’s possible for you to afford to lose.
It is also useful to set win and loss markers.
This immediately reduces the house edge from 2% to around 0.5%.
If you play online blackjack with computerized dealers, you cannot really count cards.
The games use powerful algorithms and randomize every round.
This means the decks are reshuffled after every single round.
Therefore, it is better to hit live tables with real dealers and decks of cards.
Start small, and once you are confident, then you could start refining your plan.
It will mitigate your losses and maximize your stake when you have a higher chance of winning.
It is not infallible, and you could still lose money when using the strategy.
But over longer periods of time, it is designed to take you into the green.
This strategy only works on the condition that you don’t break away or make any impulsive decisions.
Have patience, keep a realistic outlook, and stick to the plan at all times.
Daniel has been writing about casinos and sports betting since 2021.
