The Martingale strategy is classed as one of the oldest betting systems and it originated in France in the eighteenth century. There are many sites giving you the mathematic equations to help the gambler understand the Martingale strategy, but within this piece of writing we will be looking at a simplified version.
The main strategy behind this can be explained by the following; the gambler wins his stake if a coin comes up heads and loses if the coin comes up tails. The gambler has to double his bet after every loss to enable the hopeful win will recover all previous losses.
The problem behind this is that you need infinitive wealth to be able to ensure a return. As with the nature of gambling, most would bankrupt themselves following this strategy before their win did come through.
The casinos are more than aware of the Martingale strategy and have place betting limits on their tables to prevent any large wins from the Martingale system.
Casinos will provide the gambler with a free amount of money to bet with, this will usually be around ten to fifteen pounds. It is unlikely for you to have won with the Martingale system with this limited amount of cash and therefore the house wins.
An example of the martingale system:
You place a £5 bet and you lose. You next bet has to be £10. Again, if you lose the following bet has to be £20. The subsequent bet after losing again would need to be £40 and so on. This leads to the gambler quickly putting down a lot of money just to reclaim what the have gambled and for a relatively small return.
There are many problems with the Martingale strategy if you are the gambler. As well as having to constantly double your money to recover any loses as demonstrated above, on average you lose one pound fifty for each bet you place ($2.275).
The only foolproof way to win with the Martingale strategy is to have an infinitive amount of money to gamble with, and if you had this, you would be unable to find a casino willing to take the bets.
The Martingale strategy is best when played in short burst as higher stakes tend to lead to less success. Preferably use the Martingale system with someone else money!