Martingale System - page 8. | Bitcointalksearch.org

cech4204a

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Quote from: DrG on June 27, 2014, 03:41:22 AM

Why is this thread so popular? Grin

People looking for easy money.

Amazon has a couple of good reads on betting systems, I read one on the way to Vegas once and laughed.

If you want to win, find a casino off the strip and play single or double deck blackjack.

I am no longer allowed to gamble at Bellagio or it's affiliates, I'll just leave it at that Grin

Bitcoin gambling went on fire, that's why it's popular. Can you explain why you are banned from Bellagio ? Do they use only 4 sets of cars for Blackjack?

scribbles

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Quote from: zimmah on June 26, 2014, 05:01:10 AM

No matter which system you use, the house edge stays the same. However with martingale you either win big or lose bigger.

Not true - you do not win big with the Martingale system, do the math. As you keep doubling down you are only ahead by the amount of your original bet. So when you finally win, you only win the amount of the first bet. When you lose, you can lose your entire bankroll. Since people can't seem to understand this on this thread, here is an example following the Martingale system (doubling your bet after every loss):

Bet 1: 5
Result: Lose
Loss/profit so far: -5

Bet 2: 10
Result: Lose
Loss/profit so far: -15

Bet 3: 20
Result: Lose
Loss/profit so far: -35

Bet 4: 40
Result: Lose
Loss/profit so far: -75

Bet 5: 80
Result: Lose
Loss/profit so far: -155

Bet 6: 160
Result: Win
Loss/profit so far: 5

So you can see that you end up putting down bets as high as 160 (and risking over 300) just to earn 5 in the end. And if the bet maximum would have been 100 for example, this person would have been screwed, just to try and earn 5.

Martingale is a crap system. End this thread.

unpure

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No system can guarantee you profit from casino.

Chemistry1988

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Quote from: DrG on June 27, 2014, 03:41:22 AM

I am no longer allowed to gamble at Bellagio or it's affiliates, I'll just leave it at that Grin

Hope it is because you win too much with your skills, rather than getting caught of cheating lol. Tongue

DrG

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Why is this thread so popular? Grin

People looking for easy money.

Amazon has a couple of good reads on betting systems, I read one on the way to Vegas once and laughed.

If you want to win, find a casino off the strip and play single or double deck blackjack.

I am no longer allowed to gamble at Bellagio or it's affiliates, I'll just leave it at that Grin

VeroPossumus

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So if martingale is literally gambling i wont bother trying it. Gambling never worked for me.

Harley997

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Quote from: TheDragonSlayer on June 26, 2014, 07:03:55 PM

Martingale system works only if you have unlimited fund, but if you have unlimited fund you don't need to gamble.

It does not work as anytime you will every gamble the "house" will have some kind of edge. This is how they make money and why they provide their "service" of allowing you to gamble away your money.

TheDragonSlayer

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Martingale system works only if you have unlimited fund, but if you have unlimited fund you don't need to gamble.

Minnlo

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Quote from: boymilk on June 26, 2014, 04:55:41 AM

Quote from: DrG on June 25, 2014, 09:15:18 PM

Please read any book on Martingale - the system relies on small bets that are repeated over and over. it's very monotonous. You can very easily come out ahead, but you don't win big like you would if you pressed your earnings.

They have books written about this?

Why anyone would write (or buy) a book about a "system" that doesn't work is beyond me.

And to your surprise, there are more than one person in the service section asking people to "invest" in them, because they have a "winning strategy" in dice games. Tongue

Harley997

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Quote from: boymilk on June 26, 2014, 04:55:41 AM

Quote from: DrG on June 25, 2014, 09:15:18 PM

Please read any book on Martingale - the system relies on small bets that are repeated over and over. it's very monotonous. You can very easily come out ahead, but you don't win big like you would if you pressed your earnings.

They have books written about this?

Why anyone would write (or buy) a book about a "system" that doesn't work is beyond me.

it isn't so much a "system" but rather a probability concept

Rapido

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Probability is a tricky branch of mathematics. But once you mastered it you will be highly regarded and could earn lots of money with it.

zimmah

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brand new to bitcoin maybe, not brand new to statistical probability most likely.

you'd be amazed how few people know about probability.

Draculea

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if you wanna beat the casino, go to card games, blackjack and poker mostly. Not roulette, not dices, no martingale

Even a brand new user like me knows that

zimmah

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Quote from: beegatewood on June 24, 2014, 07:40:28 PM

Martingale system sucks due to the 1% house. So don't do it.

No matter which system you use, the house edge stays the same. However with martingale you either win big or lose bigger.

With flat bets you either win small or lose small.

So its all about the amount of risk you like to take.

Quote from: boymilk on June 26, 2014, 04:55:41 AM

Quote from: DrG on June 25, 2014, 09:15:18 PM

Please read any book on Martingale - the system relies on small bets that are repeated over and over. it's very monotonous. You can very easily come out ahead, but you don't win big like you would if you pressed your earnings.

They have books written about this?

Why anyone would write (or buy) a book about a "system" that doesn't work is beyond me.

Peope make money with selling scams all the time, selling a book about martingale is no dofferent.

boymilk

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Quote from: DrG on June 25, 2014, 09:15:18 PM

Please read any book on Martingale - the system relies on small bets that are repeated over and over. it's very monotonous. You can very easily come out ahead, but you don't win big like you would if you pressed your earnings.

They have books written about this?

Why anyone would write (or buy) a book about a "system" that doesn't work is beyond me.

ALToids

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Just tried this martingale crap. You win a little and can sometimes double your earnings but I usually go bust before I have tripled them.

Better off doubling winnings

ranochigo

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Quote from: factor280 on June 25, 2014, 10:52:33 PM

Martingale has proven time and time again to get people to go broke. Better system is to start with 1 unit and increase after every win by 1 unit. If you get on a hot streak, you might be on to something good!

You can get a lose streak. If you do it like this even after you are in a very long lose streak, you would probably not going to be recovering from that loss.

factor280

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Martingale has proven time and time again to get people to go broke. Better system is to start with 1 unit and increase after every win by 1 unit. If you get on a hot streak, you might be on to something good!

DrG

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Quote from: guybrushthreepwood on June 25, 2014, 05:08:39 AM

Um, no. I won big using the martingale system. Why are you so against people making money this way? I didn't say it was foolproof. Any way is a gamble and throwing your money at it the 'regular' way isn't exactly safer or even more 'fun'. I'd recommend people not even gamble at all to be honest.

Perhaps you and I have different meanings of the word "big". Big to me would be going in with 1k and walking out with 10K.

If that's what happened with you, then you must have bet 1K 10 times. But mind you that if you lost the first bet, you're out - that's not really using the Martingale system. If you did the press system in such a scenario you would have won 1k2^10 or $1 million.

Please read any book on Martingale - the system relies on small bets that are repeated over and over. it's very monotonous. You can very easily come out ahead, but you don't win big like you would if you pressed your earnings.

Soappa

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Quote from: Mr Tea on June 25, 2014, 06:52:26 AM

Quote from: mezmerizer9 on June 25, 2014, 06:14:12 AM

WHat about this, http://en.wikipedia.org/wiki/Kelly_criterion? Has anyone tried it before?

I don't think there's any foolproof methods with games of chance. If there was casinos would be out of business.

If you check the page carefully, you will see the kelly criterion tells you to never play in games with negative expected value. Cheesy

Topic: Martingale System - page 8. (Read 11583 times)