Why you should avoid using The Martingale System.
How the Martingale System works
Much has been written about the system but this is my take on it.
For those that do not know, the system is a progressive betting idea. For example if you bet 1$ of the flip of a coin the odds are 50/50. With this system you must continue progressively betting on the same outcome whether it is heads or tails. Let’s assume the wager was on heads.
If you win, you gain a dollar and bet 1$ again on heads. If lose you bet $2 on heads again, double the wager. Always doubling your wager on heads when you lose, you will eventually win because you are betting on a 50/50 outcome.
If you were to win 10 times in a row you would be sitting with cash in hand of $20. That is $10 for each win plus your $10 stake back.
Although the odds are 50/50 you could have a situation when the outcome is tails an infinite number of times but let’s look at this for a series of 10 losses. Your total loss would be 1+2+4+8+16+32+64+128+256+512= $1023.
In my example above, if you did lose on 10 flips your next wager would be $1024 so it really does take guts to play using the Martingale system.
The Martingale System Stats for you
If you were having a really bad run, the loss keeps doubling until you do win. If you continue to wager using this system you will get all your money back. When you concede you will lose all the money you have wagered.
Staggeringly, if the outcome was tails for 15 times you will have lost $32,767. It only takes 20 lost wagers for your loss to reach a staggering $1,048,575. The losses increase exponentially.
With this system you are only making one dollar each time you win but the point is that because the odds are even you will always win in the end.
The big problem with this system is that you need to be able to continue wagering and most people who try, fail due to a simple practicality and lose all they have bet. Most casinos will have wager limits so players are forced to withdraw.
It may be fun to play with this system when you keep winning but if you do start losing you should quit before you lose everything you have. The best advice is to avoid using the system at all.
Origins of the system are not clear; some accounts say it was invented in France. Personally I am wondering if it might have been invented by a casino.
If I have not bored you yet, we need to consider the how the system might pan out when used in a casino, rather than on the flip of a coin.
Well you could use it on any game where the odds are even, betting red, black, odds or evens in Roulette. You could also apply the same scenario to Baccarat and Craps.
Basically, I would forget about using this system because the odds in a casino are stacked against you. For example the European Roulette wheel has 36 red and black numbers plus the green zero. The odds are less than even when using this system because of the green zero. The American Roulette wheel has a green zero plus a double zero so it is worse.
However you look at this system, whatever game you are playing in a casino, the system will probably defeat you in the end. It you do use it you may have some good wins but you will have to sit through a large number of outcomes to make any money. The losses are potentially devastating.
Other Articles in the Useful Advice Series
Blackjack Video Tips – Slot Machine Payout Rate – Online Casino Security
Choosing a Safe Online Casino – Helpful Online Gambling Tips
Gambling Psychology – Best Deals at Online Casinos
Avoid Problems with Online Gambling
Other Gambling Scams which involved criminal activity
The Roselli Brothers who conned the banks and casinos out of 37 million dollars during the 1990’s.
Louis Colavecchio who became an expert forger of casino tokens. He went to prison for seven years and then tried again.
Bill Brennan a casino employee who apparently walked out of a casino at the end of his shift with half a million dollars in casino chips and cash.
Dennis Nikrasch a slot machine cheat who reportedly won more than 15 million dollars over time.
Monique Laurent a Roulette cheat who worked with her brother to electronically control the outcome of the spin.
Ida Summers a casino worker who learned to re-arrange the cards so that the punters won.
Richard Marcus who won hundreds of thousands of dollars by manipulating casino chips.
Ronald Dale Harris and Reid NcNeil who learned to cheat the the gaming machine software.
Tommy Carmichael who manipulated slot machines to win. He is now a reformed character an works as a slot machine security consultant.
A Blackjack card counting scam which enabled a group of students win millions of dollars from US casinos.
A card cheating mobile phone which can scan and read a deck of cards, discovered by Google.