Martingale System

[Peter882]

Martingale System is for veeeery rich person. In this system you will win only on paper.

Nah, most gambling site have max bet so

This is one of the biggest problem of this system.
Next one is that we need a huge bankroll.

Even if there is no max bet and you have a huge bankroll, martingale won't work as you will just hit a long enough loss streak eventually.

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[BigBill]

Martingale System is for veeeery rich person. In this system you will win only on paper.

Nah, most gambling site have max bet so

This is one of the biggest problem of this system.
Next one is that we need a huge bankroll.

Even if there is no max bet and you have a huge bankroll, martingale won't work as you will just hit a long enough loss streak eventually.

Unless you have unlimited bankroll

[Peter882]

Martingale System is for veeeery rich person. In this system you will win only on paper.

Nah, most gambling site have max bet so

This is one of the biggest problem of this system.
Next one is that we need a huge bankroll.

Even if there is no max bet and you have a huge bankroll, martingale won't work as you will just hit a long enough loss streak eventually.

Unless you have unlimited bankroll

If I have unlimited bankroll, why would I deposit my *unlimited* bitcoin to the casino trying to earn a little more bitcoin lol?

[BigBill]

Martingale System is for veeeery rich person. In this system you will win only on paper.

Nah, most gambling site have max bet so

This is one of the biggest problem of this system.
Next one is that we need a huge bankroll.

Even if there is no max bet and you have a huge bankroll, martingale won't work as you will just hit a long enough loss streak eventually.

Unless you have unlimited bankroll

If I have unlimited bankroll, why would I deposit my *unlimited* bitcoin to the casino trying to earn a little more bitcoin lol?

+1. That is way this system in worthless.

BTW. Maybe this *unlimited* is like this: " Mom give me some more money"

[JoelKatz]

Huge bankroll is infinite. You will lose in the long run no matter what. Varience ensures that you don't get the same amount of win and loses, you will eventually hit a very long streak and there goes your bankroll. Also, the house edge decreases your likelyhood of winning.

You will not necessarily eventually hit a very long streak. Progressive systems tell you when to stop, and it is far, far more likely that you will stop before you hit such a long streak.

Progressive systems are bad enough without having to misrepresent the one thing that is actually good about them. The one good thing about progressive betting systems is that you are much more likely to make a profit than suffer a loss.

[futurebit640]

Remember that the Martingale works best in the short term. The more you play, the more likely you are to lose, because the more you play the more likely you are to lose several bets in a row and then run out of money or run against the table limit

[JoelKatz]

Remember that the Martingale works best in the short term. The more you play, the more likely you are to lose, because the more you play the more likely you are to lose several bets in a row and then run out of money or run against the table limit

While that's true, it's useless. You can't control how long a progressive betting system takes. If you're lucky, it will finish very quickly, and you will win. But if it takes a long time, the only way you can stop is by eating your losses.

To use a progressive betting system rationally, you should know before you start precisely what your stopping conditions are. That way, you know very precisely what your odds of winning are and how much you stand to lose.

If you're going to "wing it" and stop betting when you feel like it, don't bother using a betting system. The point of betting systems is to provide you with precise mathematical characteristics that you get to choose -- what your odds or winning are, what the maximum amount you can lose is, and so on. There's no point in going to all the trouble if you're not going to execute to the conclusion.

[HeroCat]

you will loose - and that's all
all casinos go down fast if martingale will win 

[JoelKatz]

you will loose - and that's all
all casinos go down fast if martingale will win 

That actually can happen if the casino isn't sufficiently well financed. If most of the users of a casino or betting system are using progressive betting systems like Martingale, the casino can have many days in a row in which they take small losses. However, so long as they are sufficiently well-funded, eventually one or more of their users will go broke and they will post a huge win that swamps all the small losses they took.

Rational casinos love winners, they generate lots of betting activity. Their expected profit is proportional to the total betting activity.

[Sythyn]

Hate Martingale system, it never worked for some reason...

[Icardi09]

Martingale need many capitals / coins to make this method works
and need some courage to bet with so many coins in single roll
anyone know another method to bet, like martingale one

[Pony789]

To use a progressive betting system rationally, you should know before you start precisely what your stopping conditions are. That way, you know very precisely what your odds of winning are and how much you stand to lose.

If you're going to "wing it" and stop betting when you feel like it, don't bother using a betting system. The point of betting systems is to provide you with precise mathematical characteristics that you get to choose -- what your odds or winning are, what the maximum amount you can lose is, and so on. There's no point in going to all the trouble if you're not going to execute to the conclusion.

Well said. But most of the gamblers I see are not that rational.
When they are down, they usually deposit more trying to win it back. And when they are up, they feel like it is their lucky day and keep playing.

[JoelKatz]

Hate Martingale system, it never worked for some reason...

Most likely, it was because you were using the system over and over. This defeats its entire purpose.

The sole purpose of progressive betting systems like Martingale is to accept a low potential profit in exchange for a low probability of losing. If you repeat the system over and over, you increase the potential profit and raise the probability of losing, defeating the sole advantage of such systems.

[ARadzi]

have tried martingale system on one of those dice sites with enough balance to cover like 17 loosing streak. And guess what? I've just recorded a 24 loosing streak. The highest ever on that dice site. So, no, Martingale system is not good enough.

[Remember remember the 5th of November]

have tried martingale system on one of those dice sites with enough balance to cover like 17 loosing streak. And guess what? I've just recorded a 24 loosing streak. The highest ever on that dice site. So, no, Martingale system is not good enough.

Yup, this is why I never recommend the martingale system, you lose everything with it.

[JoelKatz]

have tried martingale system on one of those dice sites with enough balance to cover like 17 loosing streak. And guess what? I've just recorded a 24 loosing streak. The highest ever on that dice site. So, no, Martingale system is not good enough.

Presumably when you started betting you accepted that if you were unlucky enough to lose 24 times in a row, you would suffer precisely the losses you suffered. To say it didn't work because you were unlucky is absurd. Martingale's job is not to make you lucky, it's to let you choose precisely the risk/reward/loss characteristics you choose. If you got those characteristics, it worked.

Unless you do the math wrong, these systems work perfectly. They let you choose precisely the combinations of risks, reward, and loss you want. If you don't choose them wisely, don't blame the system.

[grosminer]

have tried martingale system on one of those dice sites with enough balance to cover like 17 loosing streak. And guess what? I've just recorded a 24 loosing streak. The highest ever on that dice site. So, no, Martingale system is not good enough.

true!
sometimes you can do good runs, but eventually, you're gonna lose all because of bad luck..

[JoelKatz]

sometimes you can do good runs, but eventually, you're gonna lose all because of bad luck..

No, that's not true. That's, in fact, extremely unlikely. You can make it as unlikely as you wish, though the amount you win decreases if you do so.

[ligeros]

There are a lot of people that can confirm that 34 streaks (non winning numbers) happened , now to transform that in numbers:

Sum till this bet is 171.79869183 BTC, Are you still sure you want to do martingale?

34 streaks is very bad. Is it possible only on freebetco.in or on any dice site?
Sometimes I have a feeling that probability is different on different sites.
 

[Argwai96]

sometimes you can do good runs, but eventually, you're gonna lose all because of bad luck..

No, that's not true. That's, in fact, extremely unlikely. You can make it as unlikely as you wish, though the amount you win decreases if you do so.

Well the issue is that you will likely eventually have a bad luck streak as you play for longer periods of times. There is also a greater chance that you have a very long good streak however this does not matter as martingale will only allow you to make small amounts for each win as you have a good winning streak