Since the dawn of casinos and gambling, people have strategized and tried to cheat the casino in their own favor. Some have succeeded – like Carmichael and his Monkey Paw’s tricks, but it usually still ends up great for the casino.
But let scandals rest because there have been people who really devised betting strategies which worked in a legal way. Fibonacci Roulette strategy, Dalembert Roulette Strategy, or the 150 Roulette Strategy – these are all great strategies to employ if you’re looking to get the best results from your gambling budget.
Today, we’ll be talking about the most famous one (and also Mr. Bitty’s favorite) – the Martingale Betting System. We have already covered the Reverse Martingale Betting Strategy, which is a variation of the Martingale Betting System, but we haven’t focused on the creme de la creme – so today we’re doing just that.
Let’s find out more about how the Martingale betting system works when it was developed, how the Martingale betting strategy was used in casinos, and, most importantly, the pros and cons of the Martingale betting strategy. Giddy-up!
What is the Martingale Betting System?
The Martingale Betting System is a betting strategy that requires you to double your bets for every losing bet. This strategy replenishes your gambling budget, recovers your losses, and makes a profit.
Let’s say you bet 10 dollars on Red at Roulette and you lose this bet. The next step is betting 20 dollars on yet another even odds chance (red or black). If you win, you restart your betting from the initial amount. If you lose, you continue doubling your bet (40, 80, 160 and the numbers can just keep on rising!). When you encounter a win, you go back to the initial amount.
This is, more or less, how the Martingale Strategy works. No shenanigans, nothing fancy – plain old simple math. But when was it developed?
When was the Martingale Betting System developed?
The Martingale betting strategy is an old betting system that has been used in various forms for centuries. While it is not entirely clear who exactly founded the Martingale betting strategy, it is believed to have originated in 18th century France.
The Martingale strategy is based on the idea of doubling your bet after every loss, with the goal of eventually recouping all previous losses and making a profit. While the strategy has been used in various forms over the years, some say it is named after a particular type of collar that was popular among French nobility at the time. This collar had a design that resembled the double-up betting pattern used in the Martingale strategy.
Other people place the founding of the Martingale Betting System on a London casino owner who employed the strategy back in the 1700s, but his name was John Henry Martindale. I guess they got lost in translation and that’s why the Martindale became a Martingale.
How was it actually developed, we’ll never know – but the important facts are that it works! Oh, on that note – how does the Martingale Strategy really work?
How is the Martingale Strategy being used in casinos?
The Martingale betting strategy is commonly used in casinos for games with even-money bets, such as roulette, craps, and baccarat. The basic idea of the Martingale strategy is to double your bet after every loss, with the goal of eventually winning enough to recoup all previous losses and make a profit.
For example, let’s say you start with a $10 bet on red in roulette and you lose. Under the Martingale system, you would double your bet to $20 on the next spin. If you lose again, you would double your bet again to $40 on the next spin. You would continue to double your bet after every loss until you win, at which point you would go back to your original bet of $10.
The theory behind the Martingale system is that eventually you will win and recoup all previous losses, making a profit equal to your original bet. However, there are a few issues with this strategy. First, most casino games have a maximum bet limit, so if you go on a long losing streak, you may not be able to continue doubling your bet. Second, the strategy assumes that you have an unlimited bankroll and can continue to double your bet indefinitely.
Despite these issues, the Martingale betting strategy remains popular among some casino players, particularly those who believe in the idea of a “hot streak” or are looking for a simple and easy-to-understand betting system. However, it is important to remember that no betting system can guarantee a win, and that all casino games are based on chance and luck.
Let’s dive deeper into the advantages and disadvantages of the Martingale Betting Strategy, so you can understand.
Advantages of the Martingale Betting Strategy
We talked about the Martingale Betting Strategy and its extent, but now we need to see which are the biggest advantages of this strategy!
1. It’s simple
The Martingale system is a simple betting strategy that is easy to understand and implement. Players simply need to double their bet after every loss, with the aim of recouping all previous losses and making a profit. It’s simple to employ and doesn’t require anything fancy from the gambler.
2. It’s (almost) perfect
In a vacuum context, where the gambler has unlimited bankroll and the casino has no wager limits, the Martingale Betting System works. In that case, only the gambler’s fallacy tends to go south for this strategy – but that case is almost never seen, because unlimited bankrolls and no wager limits are never seen.
3. Gives you back your losses
Betting can get quite hard when the loss streak starts piling up. Your bankroll can really take a toll when the odds aren’t in your favor, but this strategy can get you back on track. If that’s your desire, make sure to start betting small, in order to maintain your budget.
4. Quick wins are involved
If you don’t have too much time for really thorough betting strategies, the Martingale Strategy can give you quick wins – so let’s transform your budget into a big bankroll fast!
Disadvantages of the Martingale Betting Strategy
Every good thing comes with a downside and the Martingale betting strategy is no different. Let’s see what are the main disadvantages of this strategy.
1. It requires to break the bank
Even if it can really bring you some real bucks in your account (or cryptobucks, on that note!), Martingale can become a really burdensome strategy if the losses are streaking. In order to keep it coming, and double the stakes every time, your budget has to be quite big.
2. Casinos have wager limits
If you have a really unlimited budget, the Martingale still seems to become a problem because every casino has certain wager limits. If you manage to hit those limits but are still losing money and haven’t resetted your Martingale bets, your bankroll will really take a toll.
3. Only works on even odds
This strategy has been created for games where there are even odds involved (50% or in that region). Baccarat or Roulette works great, but if you’re a slots player, the Martingale Strategy isn’t for you.
Conclusion
In conclusion, the Martingale Betting Strategy can be a great addition to your arsenal of strategies – but make sure to keep in mind the advantages and disadvantages!
