The Martingale Gambling System Explained

The Martingale gambling System is also called the doubling-up system or Gamblers Fallacy. This gambling system is one of the most well known. This betting system will NOT guarantee a profit in the long run.

The Martingale Gambling System Explained

The Martingale System is also called the doubling-up system or Gamblers Fallacy among experts. Among the gambling systems, it is probably the most well known. Let me clarify before we get too far: it does not work - but it can be fun.

The strategy is to make even-money bets and double the last bet until you win. For example, start betting $10. If you lose, then double the next bet to $20. Keep on doubling until you win. The philosophy of the system is that you will eventually win, and when this happens you will regain all your losses and $10. When you have won, you start from the beginning again by betting $10.

The system works in the hypothetical world where you have unlimited funds and there is no maximum bet. If this was possible you would surely profit big time from this system. However, nobody has unlimited funds and there is a maximum limit on all casinos. Therefore, it does not work in the real world. If you draw all your money from the bank and try, you will experience a lot of small wins and then one big loss that wipes you out.

In the casino world, you meet people who have experienced the same color appearing more than 20 times in a row. The chance of the same color being spun 20 times in a row is 1 to 1,813,779 or 0.000055% (in European Roulette where there is only one zero). Yes, it is indeed a low probability but it does happen, and when it happens, you will have lost $5,242,880 on the 20th spin alone. You will then have to bet $10,485,760 on the 21st spin if you initially bet $10. If you lose again, you would have to bet $20,971,520 on the 22nd spin. Now, the figure increases rapidly! You do all this just to protect the $10 you initially bet!

However, it does not matter if you are worth that much money. You have reached the maximum bet limit a long time ago. When you reach the maximum bet limit you have no chance of continuing doubling. Hence, you can forget everything about making up for your loss.