How to Learn the Kelly Method of Betting

Use the Kelly method of betting to lessen the chance of going broke when playing blackjack and counting cards.

Instructions

Difficulty: Moderately challenging

Things You’ll Need:

• Pencils
• Notebook Papers

1. Learn to count cards. (See "How to Count Cards.")
2. Learn how to play break-even blackjack. (See "How to Play Break-even Blackjack.")
3. Figure out your advantage in percent when you have a true count of +2 at the blackjack table. Note that the rules and number of decks will give the casino the advantage until the count reaches a certain point, generally +2.
4. Figure out that same percentage of your bankroll and what it comes out to in dollars. This is Kelly betting.
5. Recognize that performing complicated mathematical equations is impossible at the table with the dealer demanding a decision and the cocktail waitress asking you if you want a drink.
6. Quarter or halve that percentage of your bankroll.
7. Bet that quartered or halved amount when you have a true count of +2 at the blackjack table.
8. Raise your bet when the count goes up. When the count goes up by true +1, the advantage goes up by 1/2 of a percent.