Martingale is probably known by anyone who has ever played roulette or likes to bet on sports. What appears on paper as a bulletproof strategy is, in reality, a fast track to bankruptcy.
Martingale
The Martingale system involves doubling bets (source: crash-gambling.net)
Martingale is without a doubt the most well-known strategy that can be practiced in gambling. Unfortunately. It finds its greatest use in playing roulette. However, it is also widely used among sports bettors. Although on paper it seems like a foolproof strategy, in reality it is very treacherous. We’ll discuss more in the article.
Simple principle of doubling the bet
The principle of Martingale is primitive. You simply place a series of bets, doubling your previous stake after each lost bet and waiting until you win. Martingale can best be demonstrated with roulette bets that pay out at 2:1 odds, such as betting on a color. You start a series of bets by placing 100 Kč (€4) on one of the colors (red vs. black) and if the other color comes up, you double your next round’s stake. You continue this way until your color comes up. Then you start again from the beginning.
The fastest way to bankruptcy
At first glance, it may seem like a perfect system that ensures a steady flow of money. The reality couldn’t be more different! If we stick to our example with roulette, we must realize that the roulette mechanism has no memory, and the same color can come up even fifty times in a row. The same can happen in betting, although it is very unlikely at odds around 2. Due to the rapid exponential increase in bets, however, such a long series will not be necessary to go bankrupt. You will lose your money much sooner. Let’s return to our example where you start betting with 100 Kč (€4) and experience an unsuccessful series of 9 bets, and in the 10th series, you will face a bet of 51,200 Kč (€2,048). In such a case, you will need to have more than a hundred thousand in capital. Moreover, an online casino or bookmaker may not accept such a large bet.
- Round 1: bet 100 Kč (€4) and lose
- Round 2: bet 200 Kč (€8) and lose
- Round 3: bet 400 Kč (€16) and lose
- Round 4: bet 800 Kč (€32) and lose
- Round 5: bet 1,600 Kč (€64) and lose
- Round 6: bet 3,200 Kč (€128) and lose
- Round 7: bet 6,400 Kč (€256) and lose
- Round 8: bet 12,800 Kč (€512) and lose
- Round 9: bet 25,600 Kč (€1,024) and lose
- Before round 10, you will face a decision whether to place a bet of 51,200 Kč (€2,048) for a net win of 100 Kč (€4), knowing that you have already lost 51,100 Kč (€2,044) so far.
Martingale can be modified in various ways
For betting purposes, we can adapt Martingale in various ways. However, we strongly do not recommend this. It is better not to start with Martingale. If you truly want to beat the bookmakers, learn to find value odds, only then will you be profitable. For those interested in possible modifications of Martingale, here are a few examples. Instead of odds of 2.00, you can try betting higher odds, e.g., 3.00+, and you will not need to increase your stakes as rapidly. You can also connect this strategy with betting against long series. Imagine, for example, a football team that has not drawn in its domestic competition for 15 times in a row, but at the same time is not so bad that it would lose all 15 matches and lag far behind its opponents. Statistically, it will draw sooner or later. And since in many European competitions, the odds for a football draw are above 3.00, you can try betting on a draw in the following matches. However, keep in mind that there may be a situation where the team does not draw even in several more matches, and you will run out of money. Even in this way, Martingale can repay you. What seems like a foolproof strategy at first glance is actually just a fast track to bankruptcy. Our recommendation, therefore, cannot be any different than to avoid this strategy.
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Frequently asked questions
1️⃣ Why is Martingale dangerous?
Because you never know how long a losing streak will be or whether you will have sufficient bankroll to handle it. Another issue is the upper limits of the bet. While online casinos have roulette limits set and you know them in advance, a bookmaker may not accept your bet at all.2️⃣ Will I gain a mathematical advantage over the casino or bookmaker with Martingale?
Absolutely not. A player or bettor practicing Martingale does not have any long-term mathematical advantage over other strategies. Bettors can gain an advantage over bookmakers only by betting odds with positive expected value.
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