Final Bet in Tournament

A blackjack tournament has the following rules:
Each player starts with ten $100 chips
The player with the most chips after 7 hands wins the tournament prize. There is no second place prize.
Blackjacks pay 2 to 1
No limit on bets but minimum bet is $100
After each hand, the order of first bet rotates among the players.
After 6 hands, each player's chips are counted in case each player goes "all in" in the 7th hand and game ends in a tie that the chip leader after 6 hands wins.

Say after 6 hands, I have 20 chips or $2000. The player with the 2nd most chips has $1400. The last remaining player has $800.

I figured this is the forum for the mathematically challenged. I am the chip leader and I have the first bet which the remaining players will place their bets based on mine for the 7th and final hand.

What is the optimum bet I should make for me to win this tournament and why?

More info might me needed. Can you double after split? Surrender? http://www.blackjacktournaments.com might be a good place to start learn tournament strategy.

No insurance or even money.

Double down for less than original bet.

Split up to 3 times for a total of 4 hands.

Original bet must be matched for split hands.


I just wanted to know what would the bet would be since I bet first without knowing what the second player bets. Am I to assume the player with $1400 goes all in?

No surrender

No double down after split.

Quote: constructicons

Say after 6 hands, I have 20 chips or $2000. The player with the 2nd most chips has $1400. The last remaining player has $800.

I would bet $801. The general rule when more than one player has more than half your chips (which I assume to be the case), then bet the number of chips of the second player player, minus your lead, plus $1. In this case $1400-$600+1=$801. That way if you win your hand, you'll win the tournament, unless the second player player bets big and gets a blackjack.

Quote: constructicons

As I said before, 3 players remain. I have $2000. The 2nd most chips has $1400. The 3rd most has $800.

You later added the above. I previously thought the last place player had $800, and other players had between $800 and $1400. In this case, I would "take the low" and bet $599. That way you require the second place player to win his hand. It is more likely he will lose than win.

As I said before, 3 players remain. I have $2000. The 2nd most chips has $1400. The 3rd most has $800.

In this tournament, all the chips used were $100. There were no $1, $5, $25 chips being used.

The issue I have the first bet. The player with $1400 will place his bet after I place my bet and I cannot change my bet once I place it.

I was thinking since I had the chip lead after the 6th hand; I win in the event of a tie which is why the chip count is recorded. I bet $800 to cover the $1400 player in case he goes all in. There is no guarantee he will but my $800 bet stands.

One opinion I was told the best bet is to bet 1 chip or $100 because the other players have to bet big stakes to win and beat me. I can lose my hand and still win.

In this situation, I just wanted to know if $800 or $100 is the most optimum bet.

If you bet $800, the other player can bet $100 and take the low.

Quote: constructicons

In this tournament, all the chips used were $100. There were no $1, $5, $25 chips being used.

The issue I have the first bet. The player with $1400 will place his bet after I place my bet and I cannot change my bet once I place it.

I was thinking since I had the chip lead after the 6th hand; I win in the event of a tie which is why the chip count is recorded. I bet $800 to cover the $1400 player in case he goes all in. There is no guarantee he will but my $800 bet stands.

One opinion I was told the best bet is to bet 1 chip or $100 because the other players have to bet big stakes to win and beat me. I can lose my hand and still win.

In this situation, I just wanted to know if $800 or $100 is the most optimum bet.

I'd bet either $800 or $300. $800 because of the example the Wizard gives... $300 is the same as $100 for losers, but $300 also means the person in 3rd place can't beat you if you lose and he wins all in (barring naturals) AND the player in second place can't bet $700 and still have enough to make a full split or double. if you win your hand your on $2300, which requires $1000 bet from 2nd place to pass you.

I will consider the $800 bet is not optimum.

What about the $600 bet the Wizard later added?

Would the best bet be $300 or $600?

I always go with the low if I have the lead. Just bet 1 chip which is 100.

So did you end up winning?

This was a blackjack tournament on a cruise. This was my brother-in-law's scenario with the $2000 chip lead. One of the big rules is NO COACHING. I think he panicked. He saw the 2nd place's $1400 in chips and he bet $1500 because he wanted to win so badly. I had to close my eyes and bite my tongue. Playing smart, the 2nd place guy bet $100 (1 chip). With nothing to lose, the last guy bet his entire $800. The dealer dealt himself a 20 and wiped the whole table out. The winner had $1300 and my brother-in-law lost with his $500.

Everyone told him he should have bet just 1 chip. He was stubborn that his $1500 bet was right. They were trying to show him that the other guys have to win their hand to win the tournament.

Without any analysis, I told him I would have bet $800 based on how the leader bets in Final Jeopardy to win by $1 thinking the 2nd place guy bets everything. I told him that he has to give himself the best chance to win the tournament even if he loses his hand. Since he did not have $2900, he is not a guaranteed winner. He never even considered that in the event of a $2800 tie he would win since he had the most chips at the end of the 6th hand.

I am happy to see the analysis of why the $300 and $600 bets were more optimum than the $800 bet.