Meistro said:
What is your take on betting cover KewlJ? For example, not increasing after a loss or decreasing after a win, even if the count calls for it? Do you try to have some alternative story about how you are betting, such as being a gambler who likes to press with his wins, or do you simply size with the count?
I don't like cover period, betting or playing. Generally, I believe that we are playing to such a slim advantage, that we just can't afford to give much back. And in a perfect world with no heat, nor back off concerns, I wouldn't. I haven't found that world yet.
In this world with heat concerns, my top priority of longevity and doing everything I can to extend longevity, conflicts with this no cover period attitude. So I have incorporated some betting cover type strategies.
Not so much the not increasing after a loss or decreasing after a win. I don't follow that rule. But what I do like to do as much as possible is on a winning hand increase from the bet and paid winnings. In most cases that is a parlay, meaning most you can do is double your bet, with BJ's and dd/split wins, you can increase more than double. This thinking comes from a pit friend who I value his opinion that says it is unnatural for a player who wins his bet to bet more than the chips in play (original bet plus winnings). In other words if you bet $50 and won, it is rather unusual for a player to then bet more than $100. To do this he has to go to his chips in front of him rather than the chips in play. Now on a losing bet, you have to go to your chips anyway, so you can increase / decrease almost at will. Even fairly large jumps could just come off as chasing after a loss. I mean I wouldn't jump minimum to my max bet in one jump, but you can jump a couple levels. You are going to your chips anyway.
So I sort of set my ramp and spread up to easily accommodate this parlaying (after a win) action. The way I do that is to work backwards from my max bet. best way to explain this is to give a generic example. Let's say I determine my max bet is $600. I place that at TC +4. I believe max bet needs to be out by TC +4. If you wait any later, TC's just don't occur often enough to benefit you. So I bet $600 @ tc +4, halving that, I would bet $300 at tc +3. This allows for parlaying on a winning wager. halving that, I bet $150 at tc +2.
Now the problem area is tc +1. Most players would figure that tc +1 is about even Ev-wise. At actual true count +1, probably still slightly -Ev for most games, but if you subscribe to the bin theory that the TC +1 "bin" encompasses, tc +1 to TC +1.99, the Ev for entire bin is just slightly positive (for most games).
Still not worthy of much of an increase. But I would increase. I would increase to $75 just to smooth out the ramp and avoid making a jump from my minimum wager of $25 to my +2 tc wager of $150. Whether Ev is even or slightly negative or slightly positive at tc +1, the cost is minimal and the benefit of avoiding that bigger jump worth it.
Now the math and computer "purists" will argue that, setting up your ramp in this manner is less than optimal. And there is some truth to that. There is a cost. But my top priority is longevity, and this compromise, is optimal to me for that objective.