The theory of balanced progression is a betting strategy used in gambling, especially in games like blackjack and baccarat. It focuses on managing bets to balance risk and reward by increasing bets after losses to recover and generate profit, and reducing bets after wins to protect winnings. This strategy aims to take advantage of game outcome fluctuations while emphasizing bankroll management. Although it may help mitigate losses and capitalize on winning streaks, it does not change the game's inherent odds. Therefore, understanding risks and maintaining discipline are vital for effectively applying this strategy.