Blackjack strategy - Parlay Betting System
The Parlay is a progressive betting system similar to the Paroli system, it is a positive progression system, the aim of which is to build or "pyramid" your profits.
Similar to all progressive systems the Parlay has to be used in combination with the basic strategy to take the full advantage of your playing potential.
According to the Parlay, the player doubles his initial bet after every win. If he loses he returns to his initial bet.
The Parlay system is usually called the "Let it Ride" system because when the player wins he leaves his winnings and let them ride to the following hand.
To understand better how the Parlay system works, let's take an example. The player playing at the blackjack table puts an initial bet of $10. He wins, which means he is paid $10 on his $10 bet plus his original bet. As he uses the Parlay that tells him to use his win ($10) and his original bet ($10), so he makes the bet of $20 on the next hand.
If the player continues winning, he sticks to the same betting pattern. After a loss, he returns to the original bet. Using the Parlay system the player had better set a maximum bet limit before beginning to play.
1 win 1 + 1 win 2 + 2 lose 1
The drawback of the Parlay system is that a streak of luck can end and a large bet can be lost if only the player quits beforehand while he is ahead.