Is Martingale Profitable ??? - page 3.

RoommateAgreement

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Quote from: haileysantos95 on April 17, 2016, 05:11:22 AM

Quote from: maku on April 17, 2016, 04:55:22 AM

Seeing all these threads about martingale and various gambling systems. All I want to tell you is:

Gambling systems have been around for as long as gambling has. Yet no system has ever been proven to work.

Betting systems, are just gimmicks: Martingale, Parole, cancellation betting system etc. - everything in the end is as good as flat betting.

Couldnt agree more sir,there is no profitable way to gamble and no strategy there is to win in gambling,gambling is just base on luck.

that is right but these methods are not without their own benefits either.

they are a good way for sticking to some rules in gambling which is good to prevent loss.

haileysantos95

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Quote from: maku on April 17, 2016, 04:55:22 AM

Seeing all these threads about martingale and various gambling systems. All I want to tell you is:

Gambling systems have been around for as long as gambling has. Yet no system has ever been proven to work.

Betting systems, are just gimmicks: Martingale, Parole, cancellation betting system etc. - everything in the end is as good as flat betting.

Couldnt agree more sir,there is no profitable way to gamble and no strategy there is to win in gambling,gambling is just base on luck.

maku

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Seeing all these threads about martingale and various gambling systems. All I want to tell you is:

Gambling systems have been around for as long as gambling has. Yet no system has ever been proven to work.

Betting systems, are just gimmicks: Martingale, Parole, cancellation betting system etc. - everything in the end is as good as flat betting.

Herbert2020

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Quote from: Betwrong on April 17, 2016, 03:14:17 AM

Quote from: LoyceV on April 16, 2016, 08:33:20 AM

Quote from: Betwrong on April 16, 2016, 07:55:08 AM

Sometimes I think theoretically it is profitable. Take a dice game. How many times in a row you might have reds with 50% winning chance? At first I thought not more than 7 times. Played with that strategy, was winning some, but lost in the end having 12 reds. Then I thought well it couldn't be more than 12 reds. Played with that strategy, was winning some, but lost in the end having 16 reds. ... After that I stopped. )

What makes you think there is a maximum to the reds you can get? The next roll doesn't depend on the previous roll. So if you have had 16 reds, chances of the next one being red are exactly the same as after having 16 greens.

The more bets you place, the longer your win/loss-streaks will be.
Assuming 50% chance and 2 bets, chances are one is red, one is green.
With 2^10 bets (1000 bets) chances are pretty big you hit 10 red or 10 green in a row.
Place 1 million (2^20) bets, and 20 in a row becomes very likely.

Yes, I know and exactly that's why I thought if I make less then 1000 bets to get more than 12 reds in a row is very unlikely. So what I did was I devided all my balance by 2 13 times thus estimating what my base bet should be. ... But I had 16 reds in a row and lost all.

i made the same mistake a couple of times too i made a guess how many is possible and then set it up with losses +1 and each time the number grew and i add +1 for safety.
but this only lead to me losing money multiple times, the total reds were 21 and i asked around and somebody said i had record of 28 and that is when i gave up martingale and dice....

LoyceV

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Quote from: michietn94 on April 17, 2016, 02:25:33 AM

Martiangle can make profit if you stop play on short term ! So once you reach profit, you can stop betting ~~and try to continue on the next day.~~

Continuing after a win is what gets you eventually. If you start with 1 bitcoin it is quite likely to get 1.1 bitcoin using martingale with small bets. But it is (a bit) more likely getting that by going all-in at 90% chance once. Martingale indeed gives the idea of being safe, while there is no safe way to gamble.

A more fun is "green martingale": start with a small bet, and double on win. Now instead of losing 10 times in a row, you try to win 10 times in a row.

Betwrong

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Quote from: LoyceV on April 16, 2016, 08:33:20 AM

Quote from: Betwrong on April 16, 2016, 07:55:08 AM

Sometimes I think theoretically it is profitable. Take a dice game. How many times in a row you might have reds with 50% winning chance? At first I thought not more than 7 times. Played with that strategy, was winning some, but lost in the end having 12 reds. Then I thought well it couldn't be more than 12 reds. Played with that strategy, was winning some, but lost in the end having 16 reds. ... After that I stopped. )

What makes you think there is a maximum to the reds you can get? The next roll doesn't depend on the previous roll. So if you have had 16 reds, chances of the next one being red are exactly the same as after having 16 greens.

The more bets you place, the longer your win/loss-streaks will be.
Assuming 50% chance and 2 bets, chances are one is red, one is green.
With 2^10 bets (1000 bets) chances are pretty big you hit 10 red or 10 green in a row.
Place 1 million (2^20) bets, and 20 in a row becomes very likely.

Yes, I know and exactly that's why I thought if I make less then 1000 bets to get more than 12 reds in a row is very unlikely. So what I did was I devided all my balance by 2 13 times thus estimating what my base bet should be. ... But I had 16 reds in a row and lost all.

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Quote from: Jemzx00 on April 16, 2016, 08:26:25 AM

Quote from: LoyceV on April 16, 2016, 06:55:35 AM

Every strategy is profitable - until you lose it all.
With a small starting bet and a large wallet Martingale can last for weeks, months or years. At some point you'll risk fortunes for very small wins, and in the end you'll lose based on the house edge.
No matter what strategy: the chance to double your initial balance is smaller than the chance to lose it all.
But it can be fun while it lasts Cheesy

I've seen people use it for months in a row, slowly going up in profit all the time.

Actually martingale is too profitable but if only you stay at low bets the only thing why people lose in martingale is because of losing their patience and making their base bets go higher which make them lose.

It doesn't matter if the bets are low or high, it matters how many bets are placed in total because of the house edge.

michietn94

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Quote from: kpitti on April 17, 2016, 02:19:34 AM

From player point of view: No, Martinagale strategy is not profitable. It will soon or later leads to complete lost for player.
Player is wining very low value and in case of lost increase of stake is necessary to cover it.

From House point of view: Yes, house edge will work and player will lost all.

Martiangle can make profit if you stop play on short term ! So once you reach profit, you can stop betting and try to continue on the next day.
I have experience this with my friend recently over a week , I can make BTC 0.01 !

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Quote from: BitcoinHodler on April 14, 2016, 05:20:17 AM

Quote from: wildan88 on April 14, 2016, 04:30:00 AM

Quote from: --Encrypted-- on February 25, 2016, 10:31:51 AM

Quote from: wildan88 on February 25, 2016, 10:28:28 AM

Initially it is profitable, but henceforth always lose. and really work on short-term.

no. no no no no no. no.
it's still depends on your luck. you can bust on the first try. so no, it doesn't really work on short-term.

after I tried with several different methods. turns out it also depends on the method. if you want to play it safe with a small base bet or a little larger with quick profits and short-term.

no, it will still be depending on your luck no matter what you do.
that's the problem with these methods (all of them) gamblers make a couple of bets with these methods and then decide based on them.
but if you make thousands of bets you will realize that it really doesn't matter how long you play but your luck and how big is your bankroll.

Yes, I know. every playing gambling all really depends on luck. but right, the method is also very decisive and also bankroll.

kpitti

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From player point of view: No, Martinagale strategy is not profitable. It will soon or later leads to complete lost for player.
Player is wining very low value and in case of lost increase of stake is necessary to cover it.

From House point of view: Yes, house edge will work and player will lost all.

Indrawan77

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No, martingale will only make you bankrupt palyed around 3times using martingale end up losing all my money, its not profitable at all
If martingale is working the dice gambling will disable the bot function for martingale

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Quote from: Metadextrous on April 16, 2016, 09:06:24 PM

Quote from: maku on April 16, 2016, 08:04:02 PM

Martingale is not a strategy - it is a way to diminish you loses, and it works only if you are playing really low or have huge bankroll.
The problem is that it is easier than you think to lose several bets in a row and run out of betting money after you've doubled it all away.
You realize if you start with $1 bet you will have to spend $255 - which is enough to cover 8 losses in a row?

yep, and to counter the edge you need a really HUGE bankroll, who knows that maybe you will get a 12 losses in a row??

Yes, you might win one time because of your huge bankroll. The important think is you set your target and if you reach it go away. However, lots of gambler does not have a satisfaction and they will come back tomorrow to get more.

Metadextrous

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Quote from: maku on April 16, 2016, 08:04:02 PM

Martingale is not a strategy - it is a way to diminish you loses, and it works only if you are playing really low or have huge bankroll.
The problem is that it is easier than you think to lose several bets in a row and run out of betting money after you've doubled it all away.
You realize if you start with $1 bet you will have to spend $255 - which is enough to cover 8 losses in a row?

yep, and to counter the edge you need a really HUGE bankroll, who knows that maybe you will get a 12 losses in a row??

goldcoinminer

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Quote from: maku on April 16, 2016, 08:04:02 PM

Martingale is not a strategy - it is a way to diminish you loses, and it works only if you are playing really low or have huge bankroll.
The problem is that it is easier than you think to lose several bets in a row and run out of betting money after you've doubled it all away.
You realize if you start with $1 bet you will have to spend $255 - which is enough to cover 8 losses in a row?

Very well said, in every techniques or strategy if requires only one thing the word "discipline" . Using martingale can be profitable sometimes but the long run like I said it's not profitable due to house edge or juice if you are into sports betting.

maku

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Martingale is not a strategy - it is a way to diminish you loses, and it works only if you are playing really low or have huge bankroll.
The problem is that it is easier than you think to lose several bets in a row and run out of betting money after you've doubled it all away.
You realize if you start with $1 bet you will have to spend $255 - which is enough to cover 8 losses in a row?

fullypak

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Quote from: Wendigo on April 16, 2016, 02:01:15 PM

Martingale is a losing strategy in short-term and in long-term. You can't anticipate when you will hit a big losing streak. This streak can happen in the very beginning of your session or near the end just before you are getting ready to finish for the day in profit but this bad spree happens and everything you have won is gone. Martingale gives you an illusion of safety betting and my advice is to stay away from it.

That is true, this strategy will not work either for short term or long term but most of the gamblers believe that it will give them big profits. In this method people can make money only if they are really lucky but they continue to play for some time surely they will end up losing all there money back to the site. So just play for some time to enjoy the fun and don't target to make any big profits from this method.

Wendigo

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Martingale is a losing strategy in short-term and in long-term. You can't anticipate when you will hit a big losing streak. This streak can happen in the very beginning of your session or near the end just before you are getting ready to finish for the day in profit but this bad spree happens and everything you have won is gone. Martingale gives you an illusion of safety betting and my advice is to stay away from it.

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Quote from: Jemzx00 on April 16, 2016, 08:26:25 AM

Quote from: LoyceV on April 16, 2016, 06:55:35 AM

Every strategy is profitable - until you lose it all.
With a small starting bet and a large wallet Martingale can last for weeks, months or years. At some point you'll risk fortunes for very small wins, and in the end you'll lose based on the house edge.
No matter what strategy: the chance to double your initial balance is smaller than the chance to lose it all.
But it can be fun while it lasts Cheesy

I've seen people use it for months in a row, slowly going up in profit all the time.

Actually martingale is too profitable but if only you stay at low bets the only thing why people lose in martingale is because of losing their patience and making their base bets go higher which make them lose.

No matter how small you start, it could still end up losing big if you hit a very long losing streak. The bet could easily go high because you double your bet each time you lose. It is not a good strategy since you only earn very small amount each time you win but you lose very big if you hit a streak.

diodio5

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Quote from: adaseb on April 14, 2016, 03:32:09 AM

Quote from: iv4n on April 14, 2016, 03:20:11 AM

I think when we sit to gamble we all play progressive. We need to double, triple our bets to make something. Its true what most people think about it, nothing work on long run.
When I gamble now I don't gamble for long, sit a bit on dice game, change to roulette, poker or anything else. Play 5 - 10 minutes and that's it. I have much better results now then before when I wanted to win so much and forced every game.
For me any strategy can be profitable if you don't use it all day every day. Gambling require patience and self control.
So its not so much about strategy, its more up to you and how you feel the game! Good luck.

You can do that or you can simple double your winnings, and then triple, quadruple if you get multiple winners. This way you are risking a small amount and can win big.

Believe it or not but each of us play for a short period of less than 10min most people experience a sizable victory.
I've done this experiment. I play with the bot with 1000 satoshi bet amount. and I play within 10 minutes. I have benefited more satoshi 150k. and then I pass up a few minutes ago I ran out of my money. dont use same PROVE its strategy for long term

greghansel89

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Quote from: Betwrong on April 16, 2016, 07:55:08 AM

Sometimes I think theoretically it is profitable. Take a dice game. How many times in a row you might have reds with 50% winning chance? At first I thought not more than 7 times. Played with that strategy, was winning some, but lost in the end having 12 reds. Then I thought well it couldn't be more than 12 reds. Played with that strategy, was winning some, but lost in the end having 16 reds. ... After that I stopped. )

With the martingale strategy we will just lose more and more because the red will always out number the green ones and if we manage to hit a large bet then we will play again to win more and in the end we lose our money with martingale.

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