Does Martingale Work? - page 5. | Bitcointalksearch.org

Tytanowy Janusz

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Quote from: wuvdoll on February 28, 2019, 11:11:55 AM

Quote from: BitBustah on February 28, 2019, 09:16:56 AM

the best thing to do is place a small number of bets and walk away when your in profit. The more you play then the closer the results will be towards the expected odds.

But, martingale is here for those gamblers who are all focusing something differently always.

Martingale strategy is not for you when you are targeting profit-making from gambling.
Martingale strategy is not for the gamblers who are all looking for short stay in gambling.
Martingale strategy is not for the gamblers who are having limited bankroll/not ready to make use of faucets.

If you want to make some profits and then you plan to leave off gambling then probably you should never gamble because gambling is not meant for that. You people approach gambling with wrong reasons and then crying out for your losses.

The only type of person that was not mentioned as "not for ... who" are the one who is into gambling to looose everything he has together with home and familly. For those martingale would work. They will get from gambling what they came for.

Martingale is bad strategy even for those who are comming to casino with 1 mil $ and wanting to exit with 1$ profit. Because you still have propability of loosing 1 mil which is umproportional to 1$ earnings.

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Quote from: Tytanowy Janusz on February 28, 2019, 08:58:02 AM

Quote from: Harlot on February 28, 2019, 02:09:11 AM

The worst case scenario for doing the martingale is you went cold and you are a losing streak with limited amounts of cash. Most of the people don't even realize the amount of loss increase everytime they lose consecutively. Martingale works but it still requires luck and big amounts of capital just in case you go into a losing streak.

Big amount of capital decrise propability of killing strike but increase amount of lost money if it appear. And this is unporportional as my simulations shows what means that it is better not to have bigger capital and zero wallet at 10 strikes rather that zero 10 times bigger porfolio after 3 more bets.

Which is really risky to take the call, imagine how huge the possibilities of continuous losing streak than the chances of recovering the amount that you are trying to recover, martingale as short term strategy and acceptance if things won't work should be conditions inside your mindset, if luck permits you then
you can generate profits, if not just accept and quit after being bankrupt.

wuvdoll

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Quote from: BitBustah on February 28, 2019, 09:16:56 AM

the best thing to do is place a small number of bets and walk away when your in profit. The more you play then the closer the results will be towards the expected odds.

But, martingale is here for those gamblers who are all focusing something differently always.

Martingale strategy is not for you when you are targeting profit-making from gambling.
Martingale strategy is not for the gamblers who are all looking for short stay in gambling.
Martingale strategy is not for the gamblers who are having limited bankroll/not ready to make use of faucets.

If you want to make some profits and then you plan to leave off gambling then probably you should never gamble because gambling is not meant for that. You people approach gambling with wrong reasons and then crying out for your losses.

BitBustah

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Quote from: izanagi narukami on February 28, 2019, 09:08:41 AM

AFAIK, martiangle should be consider for short term gambling.
So when you have reach at least 5 or 10% profit, better stop and start tomorrow or change to the other method.

Just like OP did, even if you have done complicated math, the result always same, you will loss at the end !

IF your playing a game with a house edge which is all of them, the best thing to do is place a small number of bets and walk away when your in profit. The more you play then the closer the results will be towards the expected odds.

izanagi narukami

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AFAIK, martiangle should be consider for short term gambling.
So when you have reach at least 5 or 10% profit, better stop and start tomorrow or change to the other method.

Just like OP did, even if you have done complicated math, the result always same, you will loss at the end !

Tytanowy Janusz

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Quote from: Harlot on February 28, 2019, 02:09:11 AM

The worst case scenario for doing the martingale is you went cold and you are a losing streak with limited amounts of cash. Most of the people don't even realize the amount of loss increase everytime they lose consecutively. Martingale works but it still requires luck and big amounts of capital just in case you go into a losing streak.

Big amount of capital decrise propability of killing strike but increase amount of lost money if it appear. And this is unporportional as my simulations shows what means that it is better not to have bigger capital and zero wallet at 10 strikes rather that zero 10 times bigger porfolio after 3 more bets.

mirakal

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Quote from: Harlot on February 28, 2019, 02:09:11 AM

The worst case scenario for doing the martingale is you went cold and you are a losing streak with limited amounts of cash. Most of the people don't even realize the amount of loss increase everytime they lose consecutively. Martingale works but it still requires luck and big amounts of capital just in case you go into a losing streak.

That's definitely correct, the amount of risk is higher compared to the amount you will get.
Let's say your initial bet is $100 per bet and you are have a 10 losing streak which would result to a loss of 102,300.00 USD in total and still you want to continue with this method, so you need to bet 102, 400 USD just to win $100, and what if you loss, that would be a total of over $200K.

Are you willing to risk your 102, 400 USD to win 100 USD ?

We would realize it's risk if we will already calculate the possibilities in advance.

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The worst case scenario for doing the martingale is you went cold and you are a losing streak with limited amounts of cash. Most of the people don't even realize the amount of loss increase everytime they lose consecutively. Martingale works but it still requires luck and big amounts of capital just in case you go into a losing streak.

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Quote from: Ipwich on February 27, 2019, 06:11:00 AM

Quote from: BitcoinHunt3r on February 27, 2019, 05:17:54 AM

Quote from: sufferer123 on February 27, 2019, 02:42:50 AM

As previous writers say Martingale is a way of achieving success by finding the right strategy and applying risk reduction strategies. Because you don't have unlimited resources, so house always wins. But if you make the right moves, you can seriously reduce your losing odds and earn serious cash.

Maybe if we know when to get out from gambling site after win, we can use martingale and make it strategy to earn a lot in gambling site. But some people, even it is natural still greedy and they don't stop although they already win.

We will never get out with a win if we are greedy, the fact that we are using martingale, it explains a lot of our behavior.
This is just my opinion but I believe this betting method is a recipe for a big disaster as a gambler.

Actually it is right, martingale can be disaster for a gambler. But funny fact is, there are a lot of people still use this methode. Maybe for them this is good strategy to beat gambling site and they don't know if gambling site can take their money anytime.

Tytanowy Janusz

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Quote from: freedomgo on February 27, 2019, 08:08:42 AM

Quote from: sufferer123 on February 27, 2019, 07:49:23 AM

Quote from: Ipwich on February 27, 2019, 06:11:00 AM

We will never get out with a win if we are greedy, the fact that we are using martingale, it explains a lot of our behavior.
This is just my opinion but I believe this betting method is a recipe for a big disaster as a gambler.

Considering that gambling is actually based on 99% chance and with this viewpoint all gambling methods essentially big disasters for gamblers. If we believe that there is a strategy within 1% of gambling, then martingale is one of the most successful of these strategies.

I don't believe in pure luck in gambling because that is not true, 99% chance is for games with house edge, we need at least 100% in order to win.

You might be referring to dice games or other games that has a house edge, martingale strategy can also be useful in different type of gambling and even sports and most of my experience is not successful. I believe it's easier to said that it's successful if we based only in theory but try to apply it and see it for yourself.

You don't have to apply it by yourself to see if it works - its boring, time consuming and expensive. I simulated situation in which 100 000 gamblers entered casino with the same strategy and 1 mil $. Only 27% of them doubled money. Rest of them zeroed whole wallet. You think that you will have different results by entering casino and doing the same as those 100 000 gamblers?

freedomgo

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Quote from: sufferer123 on February 27, 2019, 07:49:23 AM

Quote from: Ipwich on February 27, 2019, 06:11:00 AM

We will never get out with a win if we are greedy, the fact that we are using martingale, it explains a lot of our behavior.
This is just my opinion but I believe this betting method is a recipe for a big disaster as a gambler.

Considering that gambling is actually based on 99% chance and with this viewpoint all gambling methods essentially big disasters for gamblers. If we believe that there is a strategy within 1% of gambling, then martingale is one of the most successful of these strategies.

I don't believe in pure luck in gambling because that is not true, 99% chance is for games with house edge, we need at least 100% in order to win.

You might be referring to dice games or other games that has a house edge, martingale strategy can also be useful in different type of gambling and even sports and most of my experience is not successful. I believe it's easier to said that it's successful if we based only in theory but try to apply it and see it for yourself.

sufferer123

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Quote from: Ipwich on February 27, 2019, 06:11:00 AM

We will never get out with a win if we are greedy, the fact that we are using martingale, it explains a lot of our behavior.
This is just my opinion but I believe this betting method is a recipe for a big disaster as a gambler.

Considering that gambling is actually based on 99% chance and with this viewpoint all gambling methods essentially big disasters for gamblers. If we believe that there is a strategy within 1% of gambling, then martingale is one of the most successful of these strategies.

Tytanowy Janusz

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Quote from: BitcoinHunt3r on February 27, 2019, 05:17:54 AM

Quote from: sufferer123 on February 27, 2019, 02:42:50 AM

As previous writers say Martingale is a way of achieving success by finding the right strategy and applying risk reduction strategies. Because you don't have unlimited resources, so house always wins. But if you make the right moves, you can seriously reduce your losing odds and earn serious cash.

Maybe if we know when to get out from gambling site after win, we can use martingale and make it strategy to earn a lot in gambling site. But some people, even it is natural still greedy and they don't stop although they already win.

As my simulation shows there is no way to know when to get out and every bet has propability of beeing first in killing strike.

Quote

Limit:
100
How manny tests
100000
When you want to quit?
101
Casino lost with 97521 gamblers out of 100000. Each of them took home 101$

With limit equal to 100 x bet 2,5% times you will be hit by killing strike just after entering casino. It means that you will enter casino and your killing strike will start after first bet which will zero your portfolio in 7 rolls.

Quote

Limit:
1000000
How manny tests
100000000
When you want to quit?
1000001
Casino lost with 99999637 gamblers out of 100000000. Each of them took home 1000001$

With 1 000 000 x bet limit 363 gamblers out of 100 mil will hit killing strike after first bet and wont earn even a dolar. 1 out of 275 000. Thats not even close to luck you have to have to win lottery (1:13 000 000 on most popular one in my country ... and 3 times a week someone is winning

).

In this strategy propability is against you. Same as in any other.

Ipwich

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Quote from: BitcoinHunt3r on February 27, 2019, 05:17:54 AM

Quote from: sufferer123 on February 27, 2019, 02:42:50 AM

As previous writers say Martingale is a way of achieving success by finding the right strategy and applying risk reduction strategies. Because you don't have unlimited resources, so house always wins. But if you make the right moves, you can seriously reduce your losing odds and earn serious cash.

Maybe if we know when to get out from gambling site after win, we can use martingale and make it strategy to earn a lot in gambling site. But some people, even it is natural still greedy and they don't stop although they already win.

We will never get out with a win if we are greedy, the fact that we are using martingale, it explains a lot of our behavior.
This is just my opinion but I believe this betting method is a recipe for a big disaster as a gambler.

BitcoinHunt3r

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Quote from: sufferer123 on February 27, 2019, 02:42:50 AM

As previous writers say Martingale is a way of achieving success by finding the right strategy and applying risk reduction strategies. Because you don't have unlimited resources, so house always wins. But if you make the right moves, you can seriously reduce your losing odds and earn serious cash.

Maybe if we know when to get out from gambling site after win, we can use martingale and make it strategy to earn a lot in gambling site. But some people, even it is natural still greedy and they don't stop although they already win.

sufferer123

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As previous writers say Martingale is a way of achieving success by finding the right strategy and applying risk reduction strategies. Because you don't have unlimited resources, so house always wins. But if you make the right moves, you can seriously reduce your losing odds and earn serious cash.

playboy654

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Quote from: xvids on February 24, 2019, 07:46:41 AM

Martingale would also burn you out if you don't know how to control yourself,
Yeah martingale could give you profit but it doesn't guarantee that you wouldn't lose,
You must set some limits to know when to stop.

yes you are right any strategy will work in sometimes only so doing with limitations with gambling will always been the best idea for every Gambler to save his money and make the next gambling more useful because lots of people with no strategies will definitely lost their money all time.

Fredomago

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Quote from: Tytanowy Janusz on February 26, 2019, 10:32:28 AM

Quote from: michellee on February 26, 2019, 08:36:22 AM

I prefer to depend on luck, but that still depends on what games we played because it will make the result different. In one game, martingale can work, but in the other game, martingale won't work. We don't know what the reason is and we still need to find how to make another strategy, and we decide to not always use a martingale for the strategy. But hey, I agree that in the end, some people will lose their money whatever strategy they used.

Martingale strategy does not work in any game. Its just myth passed from one gambler to another which is based on underestimating probability of loosing n times in a row. And any strategy that needs extra amount of luck to succeed is not strategy.

Pointing the right directions, there's nothing aside from luck who can bring winnings to any gamblers, and any types of gambling,
basing from experienced, strategy can give you some good hint but not accurate and still possible to make a mistake and
loses your money.

Tytanowy Janusz

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Quote from: michellee on February 26, 2019, 08:36:22 AM

I prefer to depend on luck, but that still depends on what games we played because it will make the result different. In one game, martingale can work, but in the other game, martingale won't work. We don't know what the reason is and we still need to find how to make another strategy, and we decide to not always use a martingale for the strategy. But hey, I agree that in the end, some people will lose their money whatever strategy they used.

Martingale strategy does not work in any game. Its just myth passed from one gambler to another which is based on underestimating probability of loosing n times in a row. And any strategy that needs extra amount of luck to succeed is not strategy.

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Quote from: ?? on ??

Come on everybody, don't be silly winning the game is still depends on the odds and luck, whether they're with you or not.

Martingale is just one of these methods just to let ourselves enjoy every game that exists. We win and that gives us joy, we lose then we try again... And never ending story will just go until we reach bankruptcy.

I prefer to depend on luck, but that still depends on what games we played because it will make the result different. In one game, martingale can work, but in the other game, martingale won't work. We don't know what the reason is and we still need to find how to make another strategy, and we decide to not always use a martingale for the strategy. But hey, I agree that in the end, some people will lose their money whatever strategy they used.

Topic: Does Martingale Work? - page 5. (Read 1352 times)