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A Martingale is a betting strategies in wich the gambler double the bet after every loss, so that the first win would recover all previous losses plus win a profit equal to the original stake. This works only in a game where the odds of success are close of 50% every time. The classic example for the Martingale system is betting on red or black on a roulette table. But sometimes you can bet on sports using this strategy where the odds are close to 50%.
One of the reasons the Martingale betting strategy is so popular is that it seems like a sure-fire win. Fact, the Martingale is rather risky, and all it actually does is increasing your chances to win in the short term only. Essentially, you are going to bet big to win small. You will likely win more spins than usual, but the amounts you win will be small, while the amounts you lose have the potential of being much, much bigger.
When a gambler who uses this method experiences a loss, immediately doubles the size of the next bet. By repeatedly doubling the bet when he or she loses, the gambler, in theory, will eventually even out with a win. But, you have to know: the martingale system usually fail.
The problem with the martingale strategy is that one losing strike is enough to destroy your entire bankroll. Whereas the system works perfectly in theory, in practice its success is prevented by two vital elements – the table limits and the bankroll.
Most people massively underestimate just how often bad runs happen. So, if you have 14 losses in a row, for even-money bets, the bet progression that you will use goes like this: 1 – 2 – 4 – 8 – 16 – 32 – 64 – 128 – 256 – 512 – 1024 – 2048 – 4096 – 8192
Look at the table below that shows how alarmingly fast you can lose a lot while utilising the Martingale. Also, don’t forget that your profit will always be the initial amount of money you bet. You might find yourself in a situation where you have to bet 1024 to win a measly 1.
So, the Martingale system will bring you small winnings in the short term, but because of the steep progression, it’s an extremely risky strategy to use in the long term. In the end, the amount you’ve lost will surely outweigh the amount you’ve managed to win.