As long as there has been gambling, there have been betting systems. Gamblers have tried to use various systems of betting to beat the casino games. Unfortunately, many of these systems have no mathematical basis and those that do are still flawed in other ways. There is one system gamblers use to wager that is more dangerous than all the rest.
Hello Mr. Martingale
The most infamous betting system of all-time is known as the “Martingale.” Gamblers have used this method for generations. Most were certain that using this system would guarantee them success in the casino. The mathematics behind the system are sound, but the casinos have implemented rules to keep it from being effective.The system itself is actually quite simple. Using the game of roulette as an example, you would choose an “even money” (1:1) bet. In other words, you would use this method with wagers that paid you 10 dollars if you bet 10 dollars, such as selecting red or black on the roulette wheel. Once you made your selection, you place a small wager, preferably the table minimum. If you won the bet, you would remove your winnings and make another even money selection. If you lost the wager, you would double the amount. If you began with a five dollar bet and lost, you would raise your bet to 10 dollars. If you were to lose the 10 dollar wager, you would double the wager to 20 dollars. This pattern would continue until you won, and then you would return to your original wager. In theory, this method of betting works. As long as you can keep doubling your bet, eventually you will win and your profit will be the amount of your original wager. However, utilizing this system in the casino environment can be financially devastating. The casinos have maximum betting limits for this very reason. If red or black comes up multiple times in a row, you will be wagering a large amount of money to win very little. At some point, you will reach the table limit and not be allowed to double your bet. When this occurs, you will have lost an extremely large sum of money. Many people believe that it is unlikely for one color to come up that many times in a row, but it happens more than people realize. It is not that uncommon for one color to come up 10 or more times in a row.
Other Losing Progression Betting Systems
Any system of betting where you increase the amount of your wager after you lose should be avoided. This is called a losing progression or “chasing” your losses. Gamblers who use any of these systems of betting often experience financial ruin much more quickly than a gambler who is flat betting (betting the same amount). Losing progressions or doubling up after a loss may seem like a logical way to quickly recoup your losses, but when a long losing streak occurs it will deplete your bankroll.
Avoid any type of losing progression system of betting. Whether it is the Martingale system where you double your initial wager after a loss or any other system where you increase your wager after a loss.