The Martingale betting strategy dates way back before Las Vegas became synonymous with gambling. The first documented use of the Martingale betting strategy was before the 18th century. This betting strategy was rumored to have been invented by the greedy casino owner John Henry Martindale. It is worthy of note that Mr. John Martingale did not play casino using the system but strongly encouraged his customers to use the method. He would often tell his players tales of other customers who had allegedly won large sums of money using the Martingale system of playing.
HOW THE MARTINGALE BETTING SYSTEM WORKS?
The Martingale system has fast become one of the most popular betting strategies used by recreational players. The reason behind its fame is that it is a straight forward and seemingly rational betting approach. Bettors usually believe that the easier a strategy is, the better. The bettor does not need to stress himself about memorizing any complex equations or do any form of calculation asides simple doubling. The Martindale system of betting can be easily applied to the traditional land-based establishments as well as to online casinos.
The traditional Martingale system only requires punters to double the next bet after a loss. When a win is eventually achieved, bettors can start a new cycle. The strength of this betting system is that the player gets to win the highest bet of the cycle.
For example, If a bettor were to start with a $5 bet and loses that bet, the next bet would be $10, and if that bet is lost, their next bet would be $20. If the player wins that bet, the cycle repeats itself, and the player starts the new bet at $5.
At first glance and to those who are not good with mathematics, the Martingale system appears to be a guaranteed winning approach to games that have a coin flip outcome. The novice player buys this as a guaranteed path to easy money, and it works for some people.
- If you continue to double bets after every loss, you are almost sure to win back the amount you have lost – and improve your net winnings.
- The Martingale betting works best if you are a short-term bettor. It doesn’t work great for long sessions.
- The Martingale betting strategy can help beginners recover losses quickly while they learn to play a new casino game.
- You will need to have a massive betting bankroll for you to deal with a run of losing bets because this betting system depletes your bank account far quicker than most other betting strategies.
- This strategy is not tailored for long-term bettors – the longer you play, the higher chances of the Casino’s house edge cutting deep into your bankroll.
- There is a possibility that the Martingale betting system will be affected by caps on the max bet at any given table.