Martingale Betting System
The Martingale Betting System is a progressive wagering system that requires the punter to double their bet after every loss until the bet eventually wins. After each win, the bettor goes back to beginning and starts again. It is one of the simplest and most widely-known of all the betting systems and is best applied to even money games such as Red or Black on Roulette.
This method of betting has been around since at least 1754 when the famous Venetian Casanova mentioned it in his memoirs. However, it did not have a name until more than half a century later when British gambling house owner Henry Martingale promoted the system within his establishment.
The simple formula is the main reason why the Martingale Betting System became so much more popular than other similar and perhaps more reliable systems. The principle that states that a players will always make a profit if they continue to double their stake after each loss has great appeal. It appears to achieve the holy grail of guaranteeing a win and beating the house.
In fact, the formula does exactly as it states and covers all losses and provides a profit equal to the original each time a win occurs. As well as roulette, the method can also be applied to pass/don’t Pass bets in the game of craps and banker/player bets in baccarat. It can also be modified to be used in other games where evens or close to evens markets occur.
To put the idea in practice, if the first bet loses, the players doubles the stake on the next bet. If that bet loses, they double their stake again.
For example:
- First stake = 1 (loss)
- Second stake = 2 (loss)
- Third stake = 4 (win)
- Pay-out = 4 x 2 = 8
- Total stake = (1 + 2 + 4) 7
- Profit = (8 -7) 1
The Martingale system follows this rule on every bet until a win occurs. And with 50/50 bets such as Red or Black, it should not take too long for a win to occur. However, this is where this seemingly fool-proof system runs into problems. Even with a 50/50 bet (such as a coin toss) a long losing sequence can occur. And if it does, the punter may run out of fund to cover the next bet.
For example, if we have 10 straight losses, the stake is increased thus:
:- 1, 2, 4, 8, 16, 32, 64, 128, 256, 512
The punter must now place 1024 units on the next bet just to recover their stakes and make a 1 unit profit. For most punters, this kind of progression would bring their night to an early and leave them out of pocket. And even if they could afford to keep playing, any additional losses could result in a huge jump in the required stake. Remember, just because you have lost 10 times in a row, the odds on the next bet are still 50/50.
Therefore, the success of the Martingale Betting System is linked to the size of each players available bank roll. A player of immense wealth might be able to cover losing run of 20 bets or more but for most players, this kind of streak would be impossible to fund. In fact, you could also reach a point, where you exceed the maximum bet for that particular game and will be forced to quit anyway.
On the flip side, the rewards are very low. A run of 10 straight wins would be considered lucky but would produce a profit of just 10 units. And it for that reason that most gamblers do not consider the Martingale Betting System a viable betting strategy.
