Casinos have existed for many hundreds of years however, betting in them can be tricky. Wagering your hard-earned money can have some perks and penalties, both small and large.
The odds of making a big win or a big loss depend upon a number of factors including luck, experience, intuition and knowledge about the casino game you are engaging yourselves at.
The Martingale strategy has over time proved to become a popular strategy that players have employed to quickly double their earnings by covering their losses for bets placed in earlier rounds.
This strategy seems like the best plan to follow if you do not want to lose any of your money. However, if such no-loss systems truly existed there would be no gaming industry.
The casinos not on Gamestop would have gone bankrupt since most players would win their bets. It is always advisable to understand fully of the theories you hear about before trying it out. This does not mean the strategy is completely useless.
The Martingale betting strategy is premised on a mathematical logic that increases risk but aims to recover losses. Using this strategy without proper understanding would make you lose money faster.
Why It Appears to Work In theory
The Martingale System is a betting system that started in the 18th century in France and remains popular today. The idea behind the system is simple, for every bet you lose, you double the next bet so that when you eventually win, you would be left with a small win equal to your initial stake.
It is used in games which offer bets with 50/50 chance, such as Roulette. In other words, it means that the payout is 1:1, so you win the same amount you put in for a bet.
For instance, if you bet $5 on black and win, you will get your $5 back plus another $5 for a win. If this streak continues, you would end up doubling your money in the shortest possible time without stress. It is advisable to bet very little from the beginning if you would love to use this strategy after this article.
You should also set aside the maximum amount you can lose before you start betting. Never add to this amount in any case. This would help you curb extreme losses when you get a continuous losing streak.
Dangers of The Martingale
If a round goes as planned, a bet is likely to win and recover any losses, leaving you with a modest profit, depending on what you staked originally. However, you may not have the funds required to continue raising your stake while a losing streak persists.
Assuming you have access to an unlimited bankroll, that allows you to continue doubling your stake without limit, there is every likelihood that there is a set betting limit for the game you are playing. Unfortunately, the strategy does not affect the house edge, so the house would always win in the long run.
Let us consider an online Roulette round scenario. Assuming the Roulette table you choose has a $1000 bet limit. You start with a $1 bet on red. The ball lands on black.
Your next bet is $2. If you continue increasing your bet, you would reach the table limit only after ten rounds. You would eventually lose more than you budgeted.
Many who laid the success of the Martingale strategy have enjoyed short term successes but these success is not consistent and this brings every player who adopts this strategy back to where they all started, luck.
The Martingale strategy is very beautiful in hindsight. Contrary to popular claims, this strategy still depends on luck. When you decide to use the strategy, set a maximum amount to bet and start with the smallest bet.
When you eventually win a round and recover the previous loss, do not get too excited and bet out of plan. Have a strong focus, win or lose, follow your initial plan.
This is important as you can get easily carried away. This strategy is mainly for short term wins, this is because it is a negative progressive system.