I know little about beating sports, but I can and do beat blackjack.
"Hitting and running" is meaningless unless you have a long term statistical edge. The key is getting an edge. How do you get an edge at blackjack? Learn to count cards.
The main way (without cheating or a few other ways) to get an edge is just knowing when you have a better chance of getting a blackjack. The dealer has just as good of a chance of getting a blackjack as any of the players, BUT when a player receives a blackjack he gets paid 3:2.
Think about it... if you somehow knew that every card left in the deck was an ace or a ten, and you played against the dealer, both you and the dealer would get many blackjacks. If you bet $100 you win $150 when you get a blackjack. If the dealer gets a blackjack then you lose only $100. That extra $50, the extra half bet made when you get the blackjack, is where the edge is. If you just traded blackjacks back and forth with the dealer every other hand, then you would make $50 every 2 hands.
You must also play your hands well. Basic Strategy is simply how to lose the least amount of money at blackjack if you don't count cards. If you were to play the double deck game at Bellagio and bet $100 a hand, you would stand to lose only 0.19% of your initial bet on average in the long run. So you would lose only $0.19 per hand, and if you are playing with 3 or 4 other players, you will get about 100 hands dealt to you per hour. So you would risk $10,000 and lose 0.19% of that, or $19 per hour lost, every hour, on average, for the rest of your life.
But if you count cards, you are simply comparing the number of low cards (2,3,4,5,6) remaining to the number of high cards (T J Q K A) remaining. Notice that there are 5 low cards and 5 high cards. Think of a balance. If you remove several low cards from the deck (or decks), then there will be more high cards (and more blackjacks to be dealt) remaining in the unseen cards.
There is a point when the ratio of high cards to low cards gives the player an edge. Every player has an edge at certain times, but most people have no clue when that is. It doesn't take too much to overcome a 0.19% house edge at their double deck game. But if too many high cards have been removed, then the players will have EVEN WORSE than the -0.19% off the top.
The key is betting more money (in proportion to your bankroll and perceived edge) when you know you will get more blackjacks, and betting less (or no) money when the house has the edge. The way to determine the edge is keeping track of the high and low cards.
Here's a good book to read if you are interested in playing blackjack for serious money.
"Burning the Tables in Las Vegas" by Ian Andersen
For the mathematical look at the game, try
"Theory of Blackjack" by Peter Griffin
Two other helpful books are
"Professional Blackjack" by Stanford Wong
"Blackjack Attack" by Don Schlesinger
A software program called Blackjack Risk Manager (BJRM for short)by John Auston is also recommended.
You also might want to check out
www.bj21.com This is Stanford Wong's blackjack site. He has books and software you can buy that are helpful.
My advice is don't play blackjack at all until you have studied the game. It's fairly simple to learn how to win. The tough part is getting away with winning. If you play for fun, then don't worry about it. Just play basic strategy and have some free drinks. But if you want to win money at the game, then some serious study is recommended.
I've been playing blackjack seriously since August 1997.
Anyway, just didn't want people to get the wrong idea about the game. You CANNOT win just by going up and playing 3 hands and trying to get lucky. You will lose eventually. It may take a LONG TIME, but the house has all the time in the world. Some small places are just paranoid. That is why you might get run off for winning a couple of hundred dollars. I know people who have been barred from playing blackjack at Barbary Coast and Sun Coast, and they had NO CLUE. They were just drunk and winning. The bigger places LOVE action, as long as it is from players who cannot beat the game. If they determine that you actually have a long term edge, you will not be welcome anymore.
Read read read about the game.
Practice practice practice counting at home.
Run run run simulations to figure out the best betting strategy and the best games to play.
THEN go make money.
Good luck to all.... I'll see you at the tables.