Martingale Strategy

[Marcoser123321]

Recently, I heard about the martingale strategy and I was wondering about it. Are there any flaws with it? If you haven't heard of the strategy, it's basically when you bet twice the amount you lost.

Say I bet 0.01 then if I lose I would bet 0.02 then 0.04 and so on until I win. Is there anything wrong with this? If you don't have much bitcoins you could bet 1 satoshi.   
     

[onemorebtc]

Recently, I heard about the martingale strategy and I was wondering about it. Are there any flaws with it? If you haven't heard of the strategy, it's basically when you bet twice the amount you lost.

Say I bet 0.01 then if I lose I would bet 0.02 then 0.04 and so on until I win. Is there anything wrong with this? If you don't have much bitcoins you could bet 1 satoshi.    
      

all martingale does is shifting the odds.

lets say you play a dice game offering only 50:50 odds. using martingale you can make 25:75 for you (you win more often but less).

its still -EV: so only way to win is not to play

PS: martingale does work if you have a game with does not have a bet-maximum: you wont find any...

[Marcoser123321]

Recently, I heard about the martingale strategy and I was wondering about it. Are there any flaws with it? If you haven't heard of the strategy, it's basically when you bet twice the amount you lost.

Say I bet 0.01 then if I lose I would bet 0.02 then 0.04 and so on until I win. Is there anything wrong with this? If you don't have much bitcoins you could bet 1 satoshi.    
      

all martingale does is shifting the odds.

lets say you play a dice game offering only 50:50 odds. using martingale you can make 25:75 for you (you win more often but less).

its still -EV: so only way to win is not to play

PS: martingale does work if you have a game with does not have a bet-maximum: you wont find any...

So this method doesn't work then?

[onemorebtc]

Recently, I heard about the martingale strategy and I was wondering about it. Are there any flaws with it? If you haven't heard of the strategy, it's basically when you bet twice the amount you lost.

Say I bet 0.01 then if I lose I would bet 0.02 then 0.04 and so on until I win. Is there anything wrong with this? If you don't have much bitcoins you could bet 1 satoshi.   
     

all martingale does is shifting the odds.

lets say you play a dice game offering only 50:50 odds. using martingale you can make 25:75 for you (you win more often but less).

its still -EV: so only way to win is not to play

PS: martingale does work if you have a game with does not have a bet-maximum: you wont find any...

So this method doesn't work then?

not if you want to make money.

[krishatnet]

It is very risky. It will erode all your balance if you loss your bets. It is my own experience.

[GreekBitcoin]

Recently, I heard about the martingale strategy and I was wondering about it. Are there any flaws with it? If you haven't heard of the strategy, it's basically when you bet twice the amount you lost.

Say I bet 0.01 then if I lose I would bet 0.02 then 0.04 and so on until I win. Is there anything wrong with this? If you don't have much bitcoins you could bet 1 satoshi.    
      

all martingale does is shifting the odds.

lets say you play a dice game offering only 50:50 odds. using martingale you can make 25:75 for you (you win more often but less).

its still -EV: so only way to win is not to play

PS: martingale does work if you have a game with does not have a bet-maximum: you wont find any...

So this method doesn't work then?

Nope. There are some nice simulations that i cant find right now. Basically you need infinite money supply in order to be sure. And most gambling tables will have a maximum.

[yenzae0215]

its good but if 15-20 lossing streak comes, i dont know what will you feel 

[micky123]

I call martingale, "martinfail". I always lose when i martingale for some reason. You need to have really deep pockets for martinfail to work. I have lost 350K of reddcoins once using martinfail. Sine then, i have stopped playing martinfail. Now my strat is simple, i play at 21% win chance with a 50% upgrade on every loss. Seems to be working well for me so far. There have been the occasional losses, but nothing that i could not recover from. Still, you will need a huge balance to even attempt something like this and its clearly not for the weak of heart

[Clint]

martingale doesnt work for me, in the end you will lose all your bitcoins 

[myohmy81]

martingale doesnt work for me, in the end you will lose all your bitcoins 

i agree too
i think good choice that Equal bets rather than martingale

[asuryan180]

I mean if you bet 1 satoshi it will work for a looong time since:

1           
2
4
8
16
32
64
128
256
512
1024
2048
4096
8192
16384
32768
65536
131072
262144
524288
1048576
2097152
4194304
8388608
16777216
33554432  At this point you need a 26 loss streak to lose


If you have 1 btc you can afford all these bets (last bet is 0.33)

So yea 26 loss streak is extremely rare, on the other side betting 1 satoshi is really low (right now 10k satoshi = 0.03 USD)
Meaning that you are basically betting 0.000003 each bet so you need to win 10.000 bets to win just 0.03 USD
100.000 to win 0.3 and 1 million to win 3USD, Unless you have a betting bot that can do that extremely fast i dont see how it would work

[pawel7777]

So this method doesn't work then?

It works great. It guarantees winning, you 'only' need 2 things:

1) unlimited funds
2) fair game with no max bet limit

Just a side note: some time ago Dooglus published a records from JustDice, the longest martingale streaks (win/lose) were both above 30.

[rivoke]

unfortunately no strategy works in gambling

[IamNotSure]

Indeed, in gambling it's just about the EV. Dice games (and casinos like the one I'm referring, etc.) all have negative EV.

If you want to gamble, try poker, find a table with a reckless guy who goes all in all the time, and call him when you have a high pocket pair. You'll play at +EV, you can check the probability down here. You'll have to be patient because those sucker usually don't last  

http://www.texasholdem-poker.com/preflop_hand_comparisons

[pawel7777]

...

If you have 1 btc you can afford all these bets (last bet is 0.33)

So yea 26 loss streak is extremely rare, on the other side betting 1 satoshi is really low (right now 10k satoshi = 0.03 USD)
Meaning that you are basically betting 0.000003 each bet so you need to win 10.000 bets to win just 0.03 USD
100.000 to win 0.3 and 1 million to win 3USD, Unless you have a betting bot that can do that extremely fast i dont see how it would work

Wrong. You assumed that every bet is a winning bet. In practice, you'd need at least double that number.

But you're right, with the example you stated, without superfast bot, it won't even cover the electricity cost.

It's better idea to modify martingale. What I prefer to do is set payout rate at around x1.1 and then (on loss) multiply basic stake by slightly above x10. Then most of the bets are winning bets (statistically 9 out of 10). That massively speeds up the process.

[asdlolciterquit]

Recently, I heard about the martingale strategy and I was wondering about it. Are there any flaws with it? If you haven't heard of the strategy, it's basically when you bet twice the amount you lost.

Say I bet 0.01 then if I lose I would bet 0.02 then 0.04 and so on until I win. Is there anything wrong with this? If you don't have much bitcoins you could bet 1 satoshi.   
     

it's not easy bet more and more sats when you keep losing. Trust me.

[mezmerizer9]

Recently, I heard about the martingale strategy and I was wondering about it. Are there any flaws with it? If you haven't heard of the strategy, it's basically when you bet twice the amount you lost.

Say I bet 0.01 then if I lose I would bet 0.02 then 0.04 and so on until I win. Is there anything wrong with this? If you don't have much bitcoins you could bet 1 satoshi.   
     

Don't use it unless you use it  to gain even a small profit. Don't run auto bets using martingale system or you will end up losing everything you have. Just use it wisely and carefully.

[finnile]

Martingale might be successful for short term profit. But eventually, you will get a long streak and will lose your entire bankroll. On Just dice, there was a guy who had a losing streak of 28.

[mezmerizer9]

Martingale might be successful for short term profit. But eventually, you will get a long streak and will lose your entire bankroll. On Just dice, there was a guy who had a losing streak of 28.

Yes, or have a max bet limit, I used to go to 2^5 as max, then from the min. Just place a max bet limit and it should be fine as long as you use it smart.

[wayshegoes]

Martingale is a great way to make some profits before inevitably losing everything on one bad streak.