The Parlay betting system rewards blackjack players who hit a hot streak. We explore this interesting but risky staking plan.
The Parlay betting plan is a high-risk strategy for blackjack players. If the player hits a hot streak, it can make a difference to a bankroll.
The Parlay is a positive progression system. That means that stakes are increased after a winning hand and decreased after a losing one.
It’s almost the opposite to a system like the Martingale.
How the Parlay system works
In a progressive betting plan like the Parlay, stakes are increased after a winning hand. They keep on increasing until the player loses.
In this staking plan, the size of the stake is directly related to the size of the win.
For example, if you won a regular hand of blackjack betting £10 (paying 1/1, or £10), you would wager the whole £20 (£10 win plus £10 returned stake) on the next hand. Win again, and you would bet £40 on the following hand (£20 profit plus £20 returned stake).
If you hit a blackjack playing £10 a hand, and win 3/2, your entire £25 stake would go on the next hand.
Trying the Parlay staking plan at the table
For our example, we’ll use a standard classic blackjack table. You will find games in the Betway Casino blackjack lobby.
In our table below, after three even-money wins, our returns are already eight times our original base unit amount. We hit a blackjack on hand #4 and our bankroll is 20x the base unit stake. After a loss, we revert back to our original stake.
Note that we avoid the insurance bet, which carries a 2/1 payout but increases the house edge for the casino.
Advantages and disadvantages of the Parlay plan
The Parlay system is sometimes called the let it ride plan.
Any profits that are made are effectively treated as the casino’s until they are banked and withdrawn by the player. By letting it ride or parlaying every win into a new bet, the player is risking more cash but cash that is pure profit.
The downside to the Parlay is that it is an all-or-nothing strategy. The entire bankroll is risked on every hand.
A better plan would be to save a portion of each win and risk the rest. Alternatively, rather than drop down to the base unit stake after a losing hand, drop down one or two betting units instead. This ensures less risk but also leaves a decent stake on the next hand.
You can try a negative progression plan alongside the Parlay.
With a negative progression like the Martingale, the stakes are increased only if you lose a hand. Stakes are doubled after every loss. In the event of a winning hand, the stakes go back to their original base unit.
Try the Parlay system for free today
A Parlay staking plan can be risky. However, used wisely it can reward players who go on hot streaks.
The advantage with using the Parlay in blackjack is that the house edge is so low. When using optimal strategy, the blackjack house edge can be as low as 0.5%.
Use a cheat sheet to play blackjack and make the right move every time. As long as you hit, stand, split, and double down at the right times, a progression system can really work.
Give the Parlay system a try on Betway Casino’s blackjack games today. There is an exciting range of card games in the Betway lobby.