Money Management and Betting Strategy Pt 3
Of course, card counters will scoff at anything that goes against betting according to the count, but some well-planned strategies are meant for non-counting players. One such betting strategy has been used rather effectively by basic strategy players in Atlantic City. That is the Goodman sequence.
The Goodman sequence, like the others, starts off with one unit. After the first win, though, only the original bet and the winnings ride for the second hand, or second coup, as the case may be. That way if the second hand loses, the player is only down one unit, not two, as with the Allen and Barnett sequences. Should the second hand win, the player takes down one unit, which puts him at the breakeven point in the event of a loss on the next hand (which is wagered at three units).
If the next hand wins, the player takes down a one-unit profit and allows the remaining two units of the win to be added to the three that were going into the next hand. Should the next hand win, the full five units are taken by the player and the five-unit wager is left as the next bet.
At this point, the player continues to bet five units per hand, taking down all his winnings as profit, until the first loss. He then begins at one unit again, and remains at one unit until his next win, at which time he goes right back into 1-2-3-5-5-5, etc. The Goodman sequence is frequently recommended to novice players because it is easy to remember and to play.
For more adventurous players, the Pantano Double and Skim method can bring lots of excitement. Players who use this method should not be afraid of betting high stakes. (If you should use this method, you will be betting high stakes only at the end of a favorable run, and usually after you have amassed a healthy profit.)
The method is quite simple: Bet one unit and after a win, let your profits ride, thereby doubling your wager. During those hands that you don't double, take your winnings. This method may not be as effective as the other for a short run, but for those rare times when you do catch a long run, the strategy will make you a bundle. Since there are more consecutive winning hands over the short run than the long run, you may want to combine this with one of the other methods.
I recommend the Barnett sequence. You can do that by playing the sequence until you reach six units in the betting area, then switch into the Pantano Do'uble and Skim method. Consecutive wagers during winning sessions would be 1-3-2-6-6-12-12-24-24-48 etc., until you reach either the table limits or a loss. If you are fortunate enough to reach the table limits, by all means keep betting those high stakes as long as the run lasts. After a loss, at any time, begin with one unit again.
Let's compare the results of each of these systems at given stages during a run of consecutive wins. The chart shows the net total of units won after each hand during a 15-hand run. The units remaining in play for the next hand are not included.
From this chart it seems obvious that in a long-run situation, the Pantano method is by far superior to any of the others. Yet in short runs of six or less, it is not adequate. The Goodman method takes on significance when the runs are for more than five consecutive hands, but does not keep up with the Pantano method when the runs are very long. Both the Allen and Barriett sequences are more moderate. They are relatively similar, especially after the fifth consecutive win.
It is only when the Barnett and Pantano methods are combined that the player gets a relatively complete strategy for both short and long runs. Not only that, but it gives the player the highest wager on the table going into the next hand. True, a run of 16 is a rare bird indeed, but if you happen to be at a table when it comes in, you've made a killing.
Assuming that you are not over the table limits and are making wagers of $5, that rare 16th hand would yield you $3800. Not bad for a $5 player. If the run only lasted for 12 consecutive hands, your loss would amount to only 12 units, or $60.
You may select any method that best suits your style of playing, but it is vital that you use it constantly. Money management and betting strategies are the keys that can help you win.