D'Alembert System
The parlay system is a progressive betting system that is generally used in the casino game blackjack. Unlike many other betting systems such as the D’Alembert system, it is a positive progression system with the goal of building on your profits. A positive betting system is when a player adopts the system of increasing the bet size after a win and decreasing it after a loss. A negative betting system implements the opposite strategy of reducing the bet after a win, and increasing it after a loss. This method is more designed to safeguard any money won and at the same time minimize the losses. It is believed to have derived from the banks compound interest system and has been in existence for a very long time indeed, since gambling and banks came into existence.
The parlay system uses the strategy that when a player bets and wins, the next bet would be the same amount again plus the amount that has just been won. This continues with every successful bet until a loss sees the player return to the original bet and begin the process again. In essence it attempts to pyramid profit. Another name that is sometimes used for this system is the ‘Let It Ride’ system so called because you leave the winnings on the table and allow them to ride into the next hand or bet. It is also quiet frequently used in horse racing, or certainly a similar idea.
Here is an example of the parlay system in action. A player bets an initial $10 at the blackjack table and wins. With a standard payout of 3:2, the player receives a net profit of $15 plus of course the original amount wagered, in this case $10. Therefore in total the player receives $25. In accordance with the parlay system, the next bet made must now be the full $25 on the next hand. If the next hand is won, the same pattern would be adopted. If the player were to lose the next hand however, the bet would go back to the original $10 and begin the process and system again.
It is important to note however that this system is not designed to be used instead of blackjack basic strategy, but instead used in conjunction with it in order to maximise your profits and playing potential.
The parlay system attempts to address the problems thrown up by the Martingale system, however it too has a downside. It is possible that when a hot streak comes to an end, all profits that have been accumulated can be immediately lost. Although the player does not need a large amount of money to start, any winnings that are made are by no means secure and a player can potentially lose a large amount of money instantly.
While betting the winnings plus the initial stake will see profits rise rapidly for a player if a winning streak occurs, it does not provide any guarantee of long term success. If a player adopts this strategy and sees success in the short time, it would be most advisable to quit while ahead and walk away from the table. In this instance, it can work rather effectively, as the initial stake a player needs can only be small so a player is not gambling and putting at risk large sums of hard earned money, it is merely the winnings that are put at risk. For this reason it is an attractive betting system to many and is often adopted in blackjack , Baccarat and other casino games. This method is also quite often used in horse racing to maximize profits made on winning wagers.
