Bit of Advice
 

I think that many players become discouraged because they lose while following basic strategy and while counting cards. They abandon the application of these strategy guidelines because they lose faith in the value of their use. What these players fail to understand is that online blackjack games (and most other casino games) are highly volatile in the short run. For instance, Stanley Wong (Professional online blackjack games, Pi Yee Press, 1994) describes a playing system with specific benchmark rules that shows an overall win rate of $16 per 100 hands of play, based on the simulated play of 600 million hands. Bets vary from $10 to $100, depending on the card count. He also states that any given 100 hands in this simulation will likely show a win rate of considerably more or less than this $16 win rate. In fact, the actual variation from this amount may be as much as plus or minus $415 in two-thirds of the cases!

Simply stated, players must realize that they will be losing much of the time, in spite of perfect play on their part. My advice is to be patient, keep faith in the system, and feel sure that statistical probabilities will eventually lead to winning sessions.

2. Proper money management is the other most important element of successful casino gaming. Walking away a winner is one of the most difficult tasks I've had to learn as a player. The joy of playing the games, the atmosphere of the casino, the desire to make a financial killing at the tables-these and other factors often tempt me to overstay my welcome and lose my hard-earned profits.

If you can't learn to control the emotional and psychological aspects of gambling, and be able to minimize your losses and be happy with your profits, you should find another hobby. I often have to remind myself that gambling is defined as playing at any games of chance. Whenever casino gambling becomes more like work than play, it's time to quit! Review the pages on money management, and heed the advice of the experts!

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Planning a Tournament
 
Those elements are the following:
- The game
- The buy-in
- The tournament valuations of chips and the initial chip allocation for players
- The blinds and/or antes in force for each level
- The time duration of each level
- The maximum number of re-buys allowed per player, the latest level at which they are available, and the cost and chip amounts of re-buys
- The distribution of prize money to place centages of the net revenue from entrance winners, as fees and re-buys
 
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