To answer your second question, doubling your bet after each loss will cover your loss 99% of the time but that 1% of the time you'll lose big. If your bankroll is infinite then it's a good idea, otherwise, the more hands you lose the more you're widening the gap between big change of no loss and small chance of ginormous loss.

Odds Of Losing 8 Blackjack Hands In A Row

Odds Of Losing 7 Blackjack Hands In A Row

I am new to this endeavor. I am wondering, has any blackjack player or writer calculated the probability of losing a certain number of hands in a row (given proper execution of Basic Strategy)? I am aware that one cannot simply raise .5 to the exponent of the number of hands, because the dealer has the edge and this is not like flipping a coin. I have played bj in a casino about 60-70 hours so far. I would estimate that losing five or six hands in a row would be rare, but it happens to other players and it has happened to me a couple of times.

Thanks for replies and information. I took.53 (dealer's win average) to the fifth power. Extrapolating, one has an approximately 4% chance of losing five hands in a row, in any five-hand sequence. That would mean that such a streak happens once per hundred hands, on average.
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Odds Of Losing Blackjack Hands In A Row