Parlay / Let it Ride System

The Parlay system (also known as the ‘let it ride’ system) is a positive progression system that can be used in a variety of games, including blackjack, sports betting and others. In essence this is a pyramid system, whereby wins from any bet are added to the original bet for the next hand. This is where the name ‘let it ride’ comes from, since the winnings are left on the table to ride over to the next hand.

Start by making a bet of any size; if it wins you add these winnings to the original bet for the next hand. If the hand loses, you continue betting at your base bet level.

For example, if a player wagers $10 on their initial hand and luckily hit blackjack, they will be paid 3:2 ($15 winnings). Using parlay their next bet would be the winnings ($15) added to the initial bet ($10) meaning a $25 bet next hand. The system is simple to use and does not require any calculations since winnings are just left on the table for the next bet.

The parlay system relies on the player hitting a hot streak where they win several hands in succession. It is for the player to determine when to cash in on this streak and return to base bets. Hopefully they will do this before the streak turns cold and they lose a large hand.

This system is far less risky for your bankroll than utilising negative progression systems such as martingale since losing hands are played at the base bet size, and winning hands only utilise any previous winnings, rather than eating excessively into your bankroll.

The problem comes when the player places a large bet that loses. While their bankroll is effectively only down by the one initial bet unit, there is an opportunity cost to the lost money. If they had cut-off the play just one hand earlier they could be in sizable profit. This is why money management is absolutely essential combined with a mental attitude that is resilient to such events.

The parlay system can be adjusted slightly so that you are not risking all of your winnings. To do this, rather than using all of the winnings from a bet added to the initial bet, simply use a portion of the winnings. E.g. if you bet $10 and win, you will have $20 on the table. Rather than using all of this for the next bet, you could use half of the winnings, making the bet $15 and allowing you to pocket the $5 difference. While winnings on hot streaks will be reduced using this method (since each bet is proportionately smaller), you are locking in a degree of profit which will make that losing hand much easier to take.

Parlaying does not require a big bankroll, nor does it require any exceptional mental abilities to utilise. To use the system to the fullest, players should always base their play on perfect basic strategy. This can be further improved by utilising card counting to gain an additional edge over the house. A loss following a winning streak means an abrupt loss of all gains in that series. Because of this, players need to exercise a disciplined approach using stop-limits on winnings, to ensure that they leave the table in profit.

Remember, as with all betting systems, in the long run none of them will ultimately work. Always enjoy the game but also learn when enough is enough.