Gambling and Betting Strategies

Flat Betting: Set a percentage of your bankroll that you wish to gamble.

Up As You Lose Systems

Martingale: Every time that you loose a hand double your bet, until you win. If you win you continue to flat bet, at the unit you have chosen (e.g.$5). So if you lose one hand you increase you bet to $10, lose again and increase your bet to $20 and so on until you win a hand in the series. The problem with this system is that if you where to encounter a 10 hand losing steak (which will occur if you play for long enough) you would of lost $5,115 on a $5 original bet. This method is a guaranteed way to lose all your money in the long run. It will work for short periods, but eventually you will encounter a losing streak that you cannot afford.
D'Alembert: Ever time you win you decrease your bet by one unit; ever time you loose you increase by one unit. Starting with a $10 unit, if you loose go to $20, loose again then go to $40, win then go back down to $20. Offers more security then the Martingale system however, does not solve the problem of encounter large looses if you hit a loosing streak.

Up As You Win Systems

Dahl's Progressive: A progression system where the wager is increased after each win. A $5 progression is 5-5-7-7-10-10-15-15-25-25-35-35-50. Win two bets and go to the next level. A blackjack entitles you to skip a step and a double down lets you skip two steps. If you ever get to the top bet, which might be expected to happen once every 10,000 hands approx, you stay there until you lose. Any loss in the series and you start at the beginning of the system.
Reverse Martingale: Opposite of the Martingale system. Instead of doubling your bets after a loss, you double after each win.