The Martingale was famously used by Casanova, the notorious Venetian lover and adventurer. He was well known for taking risks, so it should come as no surprise that he favored this ultra-risky system.
The Martingale was designed to cover up the inherent flaws of a zero-sum game such as a double-or-nothing roulette game. Simply put, if you flip a coin 10 times, you will statistically finish up losing 5 times and winning 6 times, thus you need to bet $1 every time. With a $1 bet, you can only win $2, but you can lose $1 each time. As you can see, the Martingale is designed for a very poor return.
But the flaws of the Martingale system were not limited to the obvious flaw of the zero-sum game. The truly brilliant part of the system is that you can’t predict when you will win. So, even if you cover your losses with a big win, you can still lose the whole bet!
The false economy of the Martingale
The Martingale was pinnacle of Naga303 gambling, and it had several flaws. Ironically, it was also the first system used on the Internet. The Internet has increased the popularity of the Martingale system to an extent, and so many people still use it today.
The primary flaw of the Martingale system is that there is an important period of reloading, which will be required in order to recoup your losses after a winning bet. While this is the perfect system for the Keno wheel or the Bingo hall, it is in vain as there are no such events in online casinos.
The effect of the Martingale system is that you keep placing bets until you lose, and each time you lose you are forced to increase your bets in the hope of winning before you go bust. As you can imagine, the bets can quickly reach extreme levels and you can run into serious financial troubles.
Let’s take a look at some of the basics of the Martingale:
- There is an initial bet on whether you will win or lose. Once either you win or lose, the player has to place a new bet that is double the initial amount. This is the first of many increases that players make when they lose.
- After the first win, there is generally a second increase, where the player can either increase their bet to a maximum of double their initial bet or accept a 25% cut of any new winnings.
- If you lose again, you double the bet again – this time to a maximum of double your original bet.
- The process is repeated again until you win. In the event of a lose, the player is forced to go one step further and double their bet again to accept a 50% cut of any new winnings.
- The process is repeated again until you win.
It looks like this when you play the Martingale:
- You have $100 to start with. You bet $10.
- If you lose, you bet $20.
- If you lose again, you bet $40.
- After the 6th win, you have recovered your $100 and have $200 still on the table.
Many players will still continue to use the Martingale system no matter what, but the Martingale does not work well and is a losing system. There are better, more efficient ways to play the roulette wheel.
If you know someone who uses the Martingale system, try him at home, not in the casino!