Martingale System

[DrG]

Why is this thread so popular?    People looking for easy money.

Amazon has a couple of good reads on betting systems, I read one on the way to Vegas once and laughed.

If you want to win, find a casino off the strip and play single or double deck blackjack.

I am no longer allowed to gamble at Bellagio or it's affiliates, I'll just leave it at that 

Bitcoin gambling went on fire, that's why it's popular. Can you explain why you are banned from Bellagio ? Do they use only 4 sets of cars for Blackjack?

When I was younger they used to have single to quad deck tables.  It's very easy to count.  Obviously you need to be quick with the math, but it comes with practice.  I am still allowed to stay there, I just can't get a rewards card from Hilton and I am effectively banned from the higher tables.

It's OK though, craps has pretty good odds as long as you're not playing snake eyes or something like that.

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[geforcelover]

i dont think that martingale works so dont lose you money just keep it and use it.. or if you want to lose send to me :d joking ..

[Harley997]

What about the freedogeco.in? you get about 5-6 doge and betting with martingale wouldn't be so bad. Min bet to be like 0.02 or safer 0.001 and leave the bot to loop over night. Lesser chances to go bankrupt and there is a chance on the long runs.

Your returns would be too low, one doge is around 60 satoshis, at this rate you can make around 100Satoshi, if you are fast with a very very high chance of busting. In the long run nothing works, the house edge there is even higher than other places.

The amounts that you bet do not make a difference. It is the fact that the difference between the minimum and maximum bet is usually too small for it to work as you would need to bet exponential greater amounts as you lose

[Nagato4]

The amounts that you bet do not make a difference. It is the fact that the difference between the minimum and maximum bet is usually too small for it to work as you would need to bet exponential greater amounts as you lose

Even if you have a very high balance and can afford many losses consecutively , it is still not a good idea to use martingale at all, because you will still get busted sooner or later with a very long losing streak.

[boumalo]

The amounts that you bet do not make a difference. It is the fact that the difference between the minimum and maximum bet is usually too small for it to work as you would need to bet exponential greater amounts as you lose

Even if you have a very high balance and can afford many losses consecutively , it is still not a good idea to use martingale at all, because you will still get busted sooner or later with a very long losing streak.

The more you play the more you lose because the casino has an edge. Period. Gamble responsably to have fun and enjoy while it lasts

[Zebra]

The amounts that you bet do not make a difference. It is the fact that the difference between the minimum and maximum bet is usually too small for it to work as you would need to bet exponential greater amounts as you lose

Even if you have a very high balance and can afford many losses consecutively , it is still not a good idea to use martingale at all, because you will still get busted sooner or later with a very long losing streak.

The more you play the more you lose because the casino has an edge. Period. Gamble responsably to have fun and enjoy while it lasts

+1.
With 1% house edge, you would lose 1% of your total wagered amount on average.
With the martingale strategy, you are going to risk a high amount for a small profit, and so the total wagered amount would be huge.

[InwardContour]

The amounts that you bet do not make a difference. It is the fact that the difference between the minimum and maximum bet is usually too small for it to work as you would need to bet exponential greater amounts as you lose

Even if you have a very high balance and can afford many losses consecutively , it is still not a good idea to use martingale at all, because you will still get busted sooner or later with a very long losing streak.

The more you play the more you lose because the casino has an edge. Period. Gamble responsably to have fun and enjoy while it lasts

Unfortunately this is true, as a lot of people try to use martingale when the odds are not truly 50/50 that they will win their bet.

[DannyElfman]

The amounts that you bet do not make a difference. It is the fact that the difference between the minimum and maximum bet is usually too small for it to work as you would need to bet exponential greater amounts as you lose

Even if you have a very high balance and can afford many losses consecutively , it is still not a good idea to use martingale at all, because you will still get busted sooner or later with a very long losing streak.

The more you play the more you lose because the casino has an edge. Period. Gamble responsably to have fun and enjoy while it lasts

+1.
With 1% house edge, you would lose 1% of your total wagered amount on average.
With the martingale strategy, you are going to risk a high amount for a small profit, and so the total wagered amount would be huge.

Every bet that you bet using martingale will earn the casino on average of 1% of your bet. As your bets get bigger and bigger the casino will simply make more off of your betting.

[Gladdy]

The amounts that you bet do not make a difference. It is the fact that the difference between the minimum and maximum bet is usually too small for it to work as you would need to bet exponential greater amounts as you lose

Even if you have a very high balance and can afford many losses consecutively , it is still not a good idea to use martingale at all, because you will still get busted sooner or later with a very long losing streak.

The more you play the more you lose because the casino has an edge. Period. Gamble responsably to have fun and enjoy while it lasts

+1.
With 1% house edge, you would lose 1% of your total wagered amount on average.
With the martingale strategy, you are going to risk a high amount for a small profit, and so the total wagered amount would be huge.

Every bet that you bet using martingale will earn the casino on average of 1% of your bet. As your bets get bigger and bigger the casino will simply make more off of your betting.

Thats what they call edge on the house , house edge will take you down .

No matter how much you have unless unlimited fund you will go broke in 24 streak that happen once in 500k roll .

[Zebra]

The amounts that you bet do not make a difference. It is the fact that the difference between the minimum and maximum bet is usually too small for it to work as you would need to bet exponential greater amounts as you lose

Even if you have a very high balance and can afford many losses consecutively , it is still not a good idea to use martingale at all, because you will still get busted sooner or later with a very long losing streak.

The more you play the more you lose because the casino has an edge. Period. Gamble responsably to have fun and enjoy while it lasts

+1.
With 1% house edge, you would lose 1% of your total wagered amount on average.
With the martingale strategy, you are going to risk a high amount for a small profit, and so the total wagered amount would be huge.

Every bet that you bet using martingale will earn the casino on average of 1% of your bet. As your bets get bigger and bigger the casino will simply make more off of your betting.

Thats what they call edge on the house , house edge will take you down .

No matter how much you have unless unlimited fund you will go broke in 24 streak that happen once in 500k roll .

Even if you have unlimited fund, you can't get more than 21 million bitcoin lol.

[Zyborg]

Recently tried a modified Martingale script of freebitco.in (not the regular one you can find anywhere). Worked out great to begin with, made constant profit, until I wanted the script to bet faster. I increased the speed by tons, and sure enough, turns out in the end you lose, no matter what. All earnings were gone within 30 seconds.

[birdynbee]

I like the martingale system in which you increase the bet a little bit more than 1x each time you loose. Additionally, I never double my bet after the first loss, I just keep it at the same amount, to get back the money from the original bet. Any thoughts on this?

[Zyborg]

I like the martingale system in which you increase the bet a little bit more than 1x each time you loose. Additionally, I never double my bet after the first loss, I just keep it at the same amount, to get back the money from the original bet. Any thoughts on this?

Even if you win half of the times betting at 50% the house has an edge meaning you don't get paid exactly as much as you spend, so that's not a strategy that's gonna give you any profits.

[Malin Keshar]

I like the martingale system in which you increase the bet a little bit more than 1x each time you loose. Additionally, I never double my bet after the first loss, I just keep it at the same amount, to get back the money from the original bet. Any thoughts on this?

Probably you'll lose money, even if you win before bursting, depending on how small is the 1.x. Your gain will be equal to your your first bet, if you make the first bet right, and less and less in the following ones, but your lose still will be exponential, and you still will wish to die when you burst.

[g3rszpi]

Better you take care of your money. Don't even start to gamble because if sometime you will get Millions of BTC you will loose it on gambling advice

[Baitty]

If this did really work there would be no gambling sites because they would be bankrupt because everyone would be using this method.

[DannyElfman]

I like the martingale system in which you increase the bet a little bit more than 1x each time you loose. Additionally, I never double my bet after the first loss, I just keep it at the same amount, to get back the money from the original bet. Any thoughts on this?

This is not the Martingale system, it is just another gambling strategy that will ultimately result in your losing your entire bankroll

[JoelKatz]

If this did really work there would be no gambling sites because they would be bankrupt because everyone would be using this method.

Gambling sites do lose a lot of money due to people gambling using the Martingale system. In fact, the majority of people who use the Martingale system properly will make money. There are gambling sites that have more losing days than winning days because they have a lot of customers who are using Martingale correctly.

Of course, they win a lot more. And when they have winning days, the amounts they win are *much* greater than the amounts they lose. That's what Martingale does. It's like a reverse lottery where the house gives you $1, but one in a million times they blow up your house, kill your children, and cut off a few of your fingers. (Perhaps the Hunger Games are a better analogy.)

[DannyElfman]

If this did really work there would be no gambling sites because they would be bankrupt because everyone would be using this method.

Gambling sites do lose a lot of money due to people gambling using the Martingale system. In fact, the majority of people who use the Martingale system properly will make money. There are gambling sites that have more losing days than winning days because they have a lot of customers who are using Martingale correctly.

Of course, they win a lot more. And when they have winning days, the amounts they win are *much* greater than the amounts they lose. That's what Martingale does. It's like a reverse lottery where the house gives you $1, but one in a million times they blow up your house, kill your children, and cut off a few of your fingers. (Perhaps the Hunger Games are a better analogy.)

Do you have a source on this?

The Martingale system can effectively be countered by a small spread between the minimum and maximum bet size allowed. 7

For example, if the min bet was .01 BTC and the max bet was 1.0BTC then the gambler would only need a loosing streak of 7 in order to fail. After the 7th loss the better will have just placed a bet of .64BTC and would need to bet 1.28BTC in order to continue using the system properly. If they only bet 1BTC and win then they would still be down .28BTC

[JoelKatz]

Do you have a source on this?

Several conversations with small gambling site operators.

The Martingale system can effectively be countered by a small spread between the minimum and maximum bet size allowed. 7

For example, if the min bet was .01 BTC and the max bet was 1.0BTC then the gambler would only need a loosing streak of 7 in order to fail. After the 7th loss the better will have just placed a bet of .64BTC and would need to bet 1.28BTC in order to continue using the system properly. If they only bet 1BTC and win then they would still be down .28BTC

By "Martingale", I don't just mean the classic Martingale system but any progressive betting system whose purpose is to drastically decrease the gambler's probability of losing. The counter to having a small spread is the d'Alembert system.
http://wizardofodds.com/gambling/betting-systems/cancellation/

With a progressive system, you can reduce your chances of losing to be about as low as you like. It follows necessarily that the house's chance of losing can be pushed as high as you'd like. The cost, of course, is the amount you win gets small and the amount you lose, should you lose, gets very, very, very high.