While there is a certain amount of luck involved in tournament play, it is not the sole deciding factor in a blackjack tournament. Blackjack tournaments are won on skill, and lost because of poor playing. One such poor way of playing is to over bet when you are in the lead by a good chunk.
What is a good chunk of a lead in a blackjack tournament? Well, let’s say you are playing in a good sized tournament where the excitement is going to be high and the pressure is on. It is in this kind of situation that blackjack tournament mistakes are made. So in this good sized tournament you have $15,000 at the beginning of the final hand and you are in the lead. Everyone else is at $5,000. Naturally they are feeling that all-or-none feeling and are going all in, wagering $5,000. In the excitement you too wager $5,000. Your fear is that if one of them wins you will lose your place as leader and therefore lose the tournament.
Your fear is ill-founded. A player that wagers $5,000, even if they are dealt a natural blackjack is only going to wind up with $7,500. And while losing $5,000 is only going to drop you down to $10,000 and you will still win, wagering $5,000 was unnecessary. All you will win is $5,000 less.
At this point you have such a strong lead with $15,000 that you can get away with wagering the minimum. You are going to win the tournament no matter who wins the round. All you can do at this point is control how much you win—do you win $15,000 or $10,000? Over betting in this situation will impact how much you get to take home as the tournament winner.
Now if the lead you have is still a good-sized lead but is closer to the next player in line, you definitely do not want to over bet. Over betting at that point could cost you the tournament. Say your lead was only $10,000 and you bet $5,000. Losing at this point will cost you everything.
The point of the matter is that you do not want to put your lead at risk in a blackjack tournament. Take a moment to think about how much you have and how much you closest opponents have. Then figure how much money you should be wagering in that final round of a blackjack tournament.