Most have heard the story about the students from M.I.T. who won millions of dollars in Vegas one summer . They did this by counting cards and betting large amounts at just the right time . But it is also the story of kids who put themselves in massive danger by breaking a cardinal rule, "don't cheat in a casino" .

The legality of the black jack betting strategies these students were employing is irrelevant to the discussion, though . They were taken off the floor because the pit bosses saw them as a threat .

An intricate system such as this would be difficult for the average player to do . Not only is it hard to organize a team of capable card counters, it's hard to get them motivated enough to risk the casino's ire . Card counting systems will not work online, as the shuffle has been removed from most online casinos .

Card counting is only one of numerous black jack betting strategies that is available to the savvy player . Take a look at a few, and decide which is right for you .

The Martingale System is a commonly known system, but it is also very risky . Use of this system involves making a series of bets with the overall goal of winning a bare minimum amount whatever the cost . It's easy if you win the first bet. You simply use those earnings to start another series of bets . Once you lose you must double your bet . This will go on continuously until the player wins . After winning you will have all of your losses back plus the original bet you made . If you had bottomless pockets and an endless amount of time this system would be perfect . Most people are not capable of this, however . One of the best tips for black jack is: don't try this strategy ! Not only are you risking doubled bets, you could end up in a situation where you are having to split or double down on an already doubled up bet . The dealer only has to get lucky once and you'll be without a shirt .

The Paroli System is setup the exact opposite of the Martingale System ; so that instead of doubling when you lose, in this system, you double when you win . This allows you to double up with "house money" and take minimal losses . If a person is disciplined enough to know when to cash out (whether winning or losing) he can profit greatly from this strategy .

People could not write the Martingale System off completely, so they instead came up with the Cross-out System . Pen and paper are required here, as in Cross-out the player writes down a series of random single digit numbers and bets the total of the first and last of these digits .

For instance , if you had written a series of digits from 1 - 5 , the first bet you placed would be six . If you had won, you would cross out these numbers and continue the system . If you had lost, the amount of chips you lost would be added to the end of your number row and that would become part of the betting series . You would then follow the series until all of the numbers have been crossed off . A lot of discipline is required to master this system, but it can be done .

No matter your objectives , keep looking across the internet and speaking to friends and family for tips for black jack and betting. Work with a few different systems until you get one that works for you . Once you have a happy balance, stick with it and practice good money management and you could be living the dream !