There were 72 entrants for the tournament. The casino had set up six tables to be used for the event. There were six players assigned to each table. The first set of thirty six players took their seats at 9am and the second set was scheduled for an hour later.
Players received $1000 in tournament chips for their fifty dollar entry fee. The minimum bet for each hand was $100 and the maximum bet was $5,000. Players were told that they had to keep their chips in stacks of the same denomination and visible for all the other players at the table to see. This is done so you can determine how many chips your opponents have.
The tournament round consisted of thirty hands of blackjack and at the end of that time the two players with the most chips on each table would advance to the semi-final round. In a standard game the dealer will deal the first card to the player at first base but in a tournament it rotates every hand since all betting is done in order. Before we started the tournament one card was dealt to each player and the player with the high card was designated as first base. The deal then moved to the left with the player in the first spot making the first bet and each player making their bets after one another. This gives a little advantage to the person betting last as they can adjust their bets strategically.
My Strategy
I was in the second round and took my seat at the table. The dealer dealt for high card and I was third to act during the first hand. The player to my immediate left must have read about the win or bust strategy because bet all his chips on the first hand. He lost and we were down to 5 players after the first hand.
I have a strategy that I use to try and increase my chips without risking it all on one bet. I call it the “Quarter strategy”. I wait until it is my turn to bet last and if no one else has made an extremely large bet, I will bet one quarter of my chips. If I have $800 in chips I will bet $200. If I win that bet I will parlay my winnings and try to win two bets in a row. I.E. I bet $200 and win $200; my next bet is $400. If I win the second bet I have now doubled my starting bankroll and am usually in good position. If I were to lose the original bet I still have enough chips to try this play again.
On this particular day I won the first bet. I now had $400 bet on the next hand and $600 left in my stack. I was dealt an 8 and 3 for a double down situation. I put up another $400 which would leave me with $200 if I lost. I drew a ten for 21 and collected $800 giving me a total of $1,800 and enough to advance into the semi-final round.
An Odd Loss
During the semi final round I was in second chip position with $900. The player to my right was the closet one to me with $500. He had to act before me and he bet $250 leaving him with $250. If he won he would only have $750 so I bet the minimum $100 which would still give me the lead with $800 if I lost.
I smiled as he was dealt a ten and a 3 for 13. I had seventeen and the dealer was showing a six up. I was sure I was had made it to the finals. But when it was this players time to act he pushed his remaining chips in and told the dealer he wanted to double down on his 13. He drew a 7 for twenty. The dealer turned over a 2 for eight and then drew a 10 for 18. I lost leaving me with $800 and the guy who doubled his 13 now had $1,000 and a spot at the final table. I don’t know why he did not just bet all his chips ahead of me but apparently he realized his mistake and then got lucky with his double down. Remember what I said about luck?
Win or lose, tournaments are fun. Give one a try.