A Question Concerning Online Casinos and BlackJack

[RobininUSA007]

I live in California, USA, where online gambling is illegal. However, there are a few online casinos that accept players from California. I've been playing at one of these online casinos, and although it is unlicensed and relatively new, I have successfully deposited and withdrawn funds several times without any issues.

I love playing Blackjack, so I deposited $6,000 into this casino. I follow "The Wizard of Odds" strategy for one-deck blackjack, and I've been quite successful. I follow the Martingale strategy; the minimum and maximum bets are $1 - 10,000. I play about 30-40 minutes most days, and I always stop when I make $100.00.

After 20 successful 30-40-minute plays, I was up to $8,000.00. So, each time I made $1,000, I withdrew funds until I withdrew a total of $6,000.00.

So, I successfully made back my initial deposit and still have $8,000.00 in the account.
I had high hopes and ambitious dreams for what I could accomplish with each successful $1,000 from the casino. However, when I was extremely tired and foggy, I made the poor decision to play. Unfortunately, I made many rash choices and lost $8,000 within minutes.

1. Do you believe an online casino will keep letting you withdraw funds after you withdraw your initial deposit? In other words, will they continually send you a $1,000 check or wire transfer, week after week, after you've withdrawn your initial deposit?

2. Do you think following "The Wizard of Odds" strategy for one-deck blackjack will lead to consistent wins? I understand that the casino has a 0.5% edge, so it doesn't make sense to me how I managed to win week after week. If I hadn’t made those rash and poor decisions, I wouldn't have lost that $8,000.

 

[Webzcas]

With regards to your two questions.

1) A reputable online casino is very unlikely to limit or restrict your account, if you happen to be on a run of making several withdrawals. The odds are ultimately in the favour of the house, so they know if you keep playing, you will ultimately play it back.

If you were betting on a sportsbook site, then this is a completely different matter. Bookies can and do limit their exposure and risk. Players have had bet limits imposed and indeed their accounts closed down in the past.

2) No idea to be honest with regards the Wizard's strategy. All I do know is that like with slots or other casino games, the games are weighted in favour of the casino. You will ultimately lose.

 

[neilw]

I would be careful and read the T&Cs of the casino. Most have a clause that says if they detect that you are using a "System", all bets, wins will be voided, or words to that effect, regardless of the system's success. They usually pull this out of the bag when you've won a substantial amount to avoid paying you.

The Wizards System is mathematically correct but based on playing millions of hands. You got a lucky streak, and rather than banking your profit, you chose to chase more wins and lost it all - the true gambler.

Systems only work if you bank your profit when you're up. Maybe work on that.

 

[mulven]

2. Do you think following "The Wizard of Odds" strategy for one-deck blackjack will lead to consistent wins? I understand that the casino has a 0.5% edge, so it doesn't make sense to me how I managed to win week after week. If I hadn’t made those rash and poor decisions, I wouldn't have lost that $8,000.

Blackjack is volatile so optimal play won't necessarily lead to consistent wins. It's one of the reasons professional card counters have to be able to deal with disgusting losses and have non addictive personalities.

I hope you were playing a single deck game as 4-8 decks is quite common and has a different optimal play table.

I would just recommend against using martingale, it can work for a while but will always end in misery eventually if you continue to use it. That bankroll breaking streak will come eventually.