Is Martingale Profitable ??? - page 9.

Phildo

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Quote from: prtty2gal2 on February 28, 2016, 02:26:28 PM

Quote from: jonathgb25 on February 27, 2016, 12:03:57 PM

Yes if the algorithm of site is not too much greedy to gamblers or you knew the game well.

How does that affect the profit or loss ? Its actually based on luck . If you are lucky and not get many losses, you will end up as a winner, else if you dont have luck, you will only and only loose always.

Luck can't beat math.

If the bet has a negative expected value, doing it over and over again (like with martingale) has only one possible outcome.

prtty2gal2

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Quote from: jonathgb25 on February 27, 2016, 12:03:57 PM

Yes if the algorithm of site is not too much greedy to gamblers or you knew the game well.

How does that affect the profit or loss ? Its actually based on luck . If you are lucky and not get many losses, you will end up as a winner, else if you dont have luck, you will only and only loose always.

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Martingale is the very basic strategy of gambling, if you do it properly you may get some profit. But now I have seen people prefer to bet on low odds and high profits. I think martingale is good but surely not the best one when it comes to dice strategies.

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Quote from: pinoycash on February 28, 2016, 11:04:11 AM

Its profitable in the short run... you will need to set a goal and whenever you reach that goal withdraw and play again... stopping is the hardest decisions

I think its depends in our luck that you can make profit with martingale strategy .There's a old thread here in gambling section he won 41 BTC using martingale.. So its depends in our luck that how can we make bitcoin. If we see that we win of 41 do you think you will still greed it? for me no i will withdraw because i won it and i don't want to lose it all....

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Quote from: Erza on February 28, 2016, 10:50:32 AM

Quote from: Nudies Fluffer on February 27, 2016, 06:04:18 PM

Martingale can be profitable given you have an incredibly large bankroll to back it and don't hit the max bet on a site.

I think there is a thread that people already do some research that large bankroll doesnt guarantee you will have profit in a long term because each site always have house edge which is in a long term you will always lose although you have a huge bankroll. But you can minimize the loss by set your loss limit and win limit

With infinite bankroll you could diminish your loses, and break even, always. But nobody has infinite bankroll!
But some people don't get that martingale is unreliable system which doesn't take into account that your chances of winning are constant.

pinoycash

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Its profitable in the short run... you will need to set a goal and whenever you reach that goal withdraw and play again... stopping is the hardest decisions

shanem

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It is impossible to profit from martingale in the long term. Sure you may win every now and then using this method but eventually you will bust your capital when a long losing streak comes. It is not worth to win a small amount when you can potentially lose everything.

Erza

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Quote from: Nudies Fluffer on February 27, 2016, 06:04:18 PM

Martingale can be profitable given you have an incredibly large bankroll to back it and don't hit the max bet on a site.

I think there is a thread that people already do some research that large bankroll doesnt guarantee you will have profit in a long term because each site always have house edge which is in a long term you will always lose although you have a huge bankroll. But you can minimize the loss by set your loss limit and win limit

xuan87

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It is absolutely not profitable for me, I have lost so many time because of martingale, i even ever lost 20 times in a row, so i have quit gambling using martingale

lixer

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For some it is and for some it is not, those who play too much with it, its not for them and those who do with limited and controlled manner , it is profitable for them. So, you can not call it one sided whether it is martingale or other strategy.

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I've used Martingale several times with Satoshidice. Everytime it would work for a while, but if you play it long enough you always loose everything. I usually play too long

The house odds are always against you. No matter what strategy you use, you will always loose in the long run.

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Quote from: 23dzmaz on February 28, 2016, 04:23:56 AM

Yes, martingale will profitable IF you have big bankroll and i advice you to not bet on dice sites. Better you use martingale strategy on sportsbook, it's more safe than dice sites.

absolutely true.. dice is the only thing for many gamblers ,, but for me ,, Its sports betting rather than dice .. I use martingale on sports betting .. we can make far more profits ,

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Quote from: BTCLovingDude on February 28, 2016, 06:08:40 AM

Quote from: lumeire on February 27, 2016, 10:05:44 AM

Quote from: BTCLovingDude on February 27, 2016, 08:24:13 AM

theoretically speaking, martingale should be profitable. but in reality what happens is that you never have enough funds to cover the number of losses you sustain. so there is always a bad luck which leads to total loss.

I somehow disagree, as in the end it all evens out, and you might even end up at a greater loss if you can no longer continue betting double. It's just a matter of when to stop - and the best time of course is if you're in a profit.

i am talking about just in theory.

you should win with an unlimited (or at least a very big) bankroll so when the bets get bigger, you don't lose and there is still more money left to double the bet and continue.

that is why i said theoretically it should work but not in practice.

Another requirement for that theory to work: the house should accept all bets, no matter how much the wager is. Otherwise, it just cuts you off at like 10 BTC and leaves you in a big loss.

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Quote from: lumeire on February 27, 2016, 10:05:44 AM

Quote from: BTCLovingDude on February 27, 2016, 08:24:13 AM

theoretically speaking, martingale should be profitable. but in reality what happens is that you never have enough funds to cover the number of losses you sustain. so there is always a bad luck which leads to total loss.

I somehow disagree, as in the end it all evens out, and you might even end up at a greater loss if you can no longer continue betting double. It's just a matter of when to stop - and the best time of course is if you're in a profit.

i am talking about just in theory.

you should win with an unlimited (or at least a very big) bankroll so when the bets get bigger, you don't lose and there is still more money left to double the bet and continue.

that is why i said theoretically it should work but not in practice.

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Quote from: 23dzmaz on February 28, 2016, 04:23:56 AM

Yes, martingale will profitable IF you have big bankroll and i advice you to not bet on dice sites. Better you use martingale strategy on sportsbook, it's more safe than dice sites.

IIRC, the highest recorded lost streak for a 2x run on a bitcoin casino was about 30.

Now let's calculate how much that guy lost: assuming he start with 1 satoshi as his base bet: He would had to bet 2 ^ 30 satoshis, or 1,073,741,824 satoshis on the 30th bet. (10 BTC, which is 3000$)

And that's not including the previous bets! So no, martingale is not profitable, but it's a simple strategy many newbies at gambling do..

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Yes, martingale will profitable IF you have big bankroll and i advice you to not bet on dice sites. Better you use martingale strategy on sportsbook, it's more safe than dice sites.

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Quote from: pooya87 on February 27, 2016, 11:38:29 PM

martingale is profitable but it is so dangerous!
since you have to increase your amount of bet each time you lose, the losses amount are growing exponentially and finally it will lead to a very big loss and leave you with a portion of your bankroll that you can't continue next bet with that amount anymore.

It is dangerous because you dont know how to set it. If you set it well I think it sure profitable, the problem is how much do you need to earn X coin? That is always been problem to everyone since they want to earn more without sacrifice more money

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obviously no

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Quote from: apoorvlathey on February 25, 2016, 09:31:49 AM

How many of you have used the Martingale System for Gambling ?
Is it profitable ?
Share your experiences with it below !

I am regular autobetter ,, I always autobet ,, and yes martingale is profitable ,, if you know when to stop ,, and different users use different strategy , I use c40 , its going quite well ,, but you have to remember , the house always wins ,, so dont be too greedy ,,, stop the bet at right time ,,

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Quote from: Nudies Fluffer on February 27, 2016, 06:04:18 PM

Martingale can be profitable given you have an incredibly large bankroll to back it and don't hit the max bet on a site.

yeah agree. if you only have a small bankroll better, not doing martingale. it will only harm you for a short time

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