Why martingale is PURE SHIT. | Bitcointalksearch.org

Betwrong

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Quote from: Symphonized on September 13, 2018, 05:21:06 PM

Quote from: Omikifuse on September 13, 2018, 03:37:19 PM

It works, until it doesn't and you lose really big.
It is going to happens if you keep trying, for sure

Unless you change your strategy and still martingale your way out of it Wink

What do you mean by "change your strategy"? Idk, maybe you are sarcastic, but not everyone will get your sarcasm here, so I'll clarify. It doesn't matter how many times you change your strategy and which strategy you use because whether you win or not, always depends solely on luck. You can win ten times in a row, and win the eleventh time right after that. And, on the other hand, you can lose ten times in a row, and there's no guarantee whatsoever that you will win your eleventh bet.

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Anyone that is interested about martingale can find that is a system that cannot give you profits in the long term in five minutes thanks to the Internet and yet people still try the system, there are many reasons for that but one of the reasons that I find most commonly given by people is that people tend to trust their own experiences a lot more than mathematics and probabilities.

People use martingale and at first the system may seem to work and that is why they keep applying it even when you show them evidence that is mathematically impossible for them to win in the long term, they prefer to trust their own experiences only to find out in the end that your warnings were correct when they lose all their money.

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Quote from: Pattart on September 13, 2018, 11:31:45 PM

Quote from: gabmen on September 11, 2018, 01:16:26 PM

Quote from: BALIK on September 11, 2018, 11:13:49 AM

I'm legit sick of hearing people talking about their dice strategy, or their blackjack strategy etc. There is absolutely nothing you can do to defeat the house edge on these games other than cheating, face it people, your strategy is bullshit, you just go completely lucky and you will get rekt eventually if you continue with your delusions.

Yeah dice is a game of streaks and whether people accept it or not, it's not them or their strategies that'll determine the outcome but pure luck. A couple of losing streaks could use up all your money with martingale.

Including martingale, how great you are to use and formulate strategies in dice, you will not be able to beat a house in the long run,
you can profit in the short term, but after that you will lose money because in the end the house will win..

That’s what I think so too. If you manage to win when using the martingale strategy, you should just stop. Sometimes what I do is I pause for an our or so then start doing it again. It’s like continuous betting without risking of continuous betting. Not that it’s always going to work but your mind can rest and feel like you have already a great outcome and you could stop.

Pattart

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Quote from: gabmen on September 11, 2018, 01:16:26 PM

Quote from: BALIK on September 11, 2018, 11:13:49 AM

I'm legit sick of hearing people talking about their dice strategy, or their blackjack strategy etc. There is absolutely nothing you can do to defeat the house edge on these games other than cheating, face it people, your strategy is bullshit, you just go completely lucky and you will get rekt eventually if you continue with your delusions.

Yeah dice is a game of streaks and whether people accept it or not, it's not them or their strategies that'll determine the outcome but pure luck. A couple of losing streaks could use up all your money with martingale.

Including martingale, how great you are to use and formulate strategies in dice, you will not be able to beat a house in the long run,
you can profit in the short term, but after that you will lose money because in the end the house will win..

Caladonian

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Quote from: crwth on September 13, 2018, 02:56:42 AM

Quote from: Sukut on September 12, 2018, 04:44:07 PM

Sounds like someone lost big money to me Cheesy

Probably the only time that it could really work is that when you stopped playing when you already won. You think it doesn’t work, but it does work in a way. Just not all the time. Especially when you continuously gamble. I hope he gets over it fast.

If experienced wise, maybe some chances of earning some little profits out from this system will work, but in the long run we read and heard a lots
of stories about failing after trying to use this strategy, it will completely burned you out as desperation and together with greediness will showed up
while you are inside the house, you will just realized it when you already out of money.

Janation

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Quote from: Script3d on September 13, 2018, 10:53:40 AM

Quote from: shanem on September 13, 2018, 04:25:31 AM

Quote from: btctalk4life on September 13, 2018, 02:58:41 AM

Quote from: crwth on September 13, 2018, 02:56:42 AM

Quote from: Sukut on September 12, 2018, 04:44:07 PM

Sounds like someone lost big money to me Cheesy

Probably the only time that it could really work is that when you stopped playing when you already won. You think it doesn’t work, but it does work in a way. Just not all the time. Especially when you continuously gamble. I hope he gets over it fast.

That's it. You CAN get profits using martingale strategy, but you needs to know when to stop when using martingale. I mean, martingale is not completely 100% shit lol.

Yes, you can get profits using martingale strategy but the problem is losses are extremely huge if an event happens many times in a row. I am sure you don't have unlimited bankroll. I would rather divide my bankroll into stakes and bet normally if you depend on luck to win to win your bet.

you can get profit with martingale strategy but nowhere if you just bet randomly and the risk of losing is very high even if you start with 1 satoshi bet, using it its not worth it , yeah just do random bets and rely on luck and its either 50/50 you go out with profit or go out broke.

Martingale is a great strategy, really but the thing is that these strategy requires massive capital or money so you can really see the results.

Gambling is a game of luck, it has a high risk game and when you are using the martingale strategy, you are adding another risk that can cause your gambling activity to be on the losing side. Better do some quick calculations everytime you bet to check your balance and maybe your possibility of winning.

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Quote from: Script3d on September 13, 2018, 10:53:40 AM

Quote from: shanem on September 13, 2018, 04:25:31 AM

Quote from: btctalk4life on September 13, 2018, 02:58:41 AM

Quote from: crwth on September 13, 2018, 02:56:42 AM

Quote from: Sukut on September 12, 2018, 04:44:07 PM

Sounds like someone lost big money to me Cheesy

Probably the only time that it could really work is that when you stopped playing when you already won. You think it doesn’t work, but it does work in a way. Just not all the time. Especially when you continuously gamble. I hope he gets over it fast.

That's it. You CAN get profits using martingale strategy, but you needs to know when to stop when using martingale. I mean, martingale is not completely 100% shit lol.

Yes, you can get profits using martingale strategy but the problem is losses are extremely huge if an event happens many times in a row. I am sure you don't have unlimited bankroll. I would rather divide my bankroll into stakes and bet normally if you depend on luck to win to win your bet.

you can get profit with martingale strategy but nowhere if you just bet randomly and the risk of losing is very high even if you start with 1 satoshi bet, using it its not worth it , yeah just do random bets and rely on luck and its either 50/50 you go out with profit or go out broke.

That's what I do now, most of the time. Just 50/50 knowing I only got a 49.5% chance, depending on the house advantage. Yeah, sometimes it is worth it, sometimes it's not. It would be worth it if you just stopped once you have won. Cheesy

You only need a few bets in my opinion.

Symphonized

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Quote from: Omikifuse on September 13, 2018, 03:37:19 PM

It works, until it doesn't and you lose really big.
It is going to happens if you keep trying, for sure

Unless you change your strategy and still martingale your way out of it Wink

Omikifuse

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It works, until it doesn't and you lose really big.
It is going to happens if you keep trying, for sure

Script3d

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Quote from: shanem on September 13, 2018, 04:25:31 AM

Quote from: btctalk4life on September 13, 2018, 02:58:41 AM

Quote from: crwth on September 13, 2018, 02:56:42 AM

Quote from: Sukut on September 12, 2018, 04:44:07 PM

Sounds like someone lost big money to me Cheesy

Probably the only time that it could really work is that when you stopped playing when you already won. You think it doesn’t work, but it does work in a way. Just not all the time. Especially when you continuously gamble. I hope he gets over it fast.

That's it. You CAN get profits using martingale strategy, but you needs to know when to stop when using martingale. I mean, martingale is not completely 100% shit lol.

Yes, you can get profits using martingale strategy but the problem is losses are extremely huge if an event happens many times in a row. I am sure you don't have unlimited bankroll. I would rather divide my bankroll into stakes and bet normally if you depend on luck to win to win your bet.

you can get profit with martingale strategy but nowhere if you just bet randomly and the risk of losing is very high even if you start with 1 satoshi bet, using it its not worth it , yeah just do random bets and rely on luck and its either 50/50 you go out with profit or go out broke.

aencarnaci

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Quote from: milewilda on September 04, 2018, 02:05:56 PM

Martingale strategy is classic and been used still upto nowadays but for newbie or new gamblers they do have different mindset and appreciation with this common strategy.They do saw some people who make big profits but they dont know that theres always a very big risk behind it before they do attain those amounts.

Yeah, there is absolutely no doubt that martingale strategy can be classy but the thing here is that people focus so much attention on it so much thinking it is just the best way for them to start making shit load of money. If it is by that way, we all would have been using martingale strategy, and with everyone winning, what is going to be left of the casino owners ? One thing a lot of people do not think. As long as the casino owners keep making huge profit, so many people are still losing whether they are using martingale, labouchere or whatever.

Quote from: Kevin77 on September 12, 2018, 03:07:37 AM

Mathematical things will never react based on environments. But unfortunately, by keeping the full faith on those gambling houses, we do get ready to call one mathematical formula as a pure shit. Ridiculous gamblers Shocked

.

You sound like that you are not keeping faith on the algorithms which are being used by gambling houses. That may be the actual game changer here but what to do the entire community is discussing about the mathematical things alone.

shanem

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Quote from: btctalk4life on September 13, 2018, 02:58:41 AM

Quote from: crwth on September 13, 2018, 02:56:42 AM

Quote from: Sukut on September 12, 2018, 04:44:07 PM

Sounds like someone lost big money to me Cheesy

Probably the only time that it could really work is that when you stopped playing when you already won. You think it doesn’t work, but it does work in a way. Just not all the time. Especially when you continuously gamble. I hope he gets over it fast.

That's it. You CAN get profits using martingale strategy, but you needs to know when to stop when using martingale. I mean, martingale is not completely 100% shit lol.

Yes, you can get profits using martingale strategy but the problem is losses are extremely huge if an event happens many times in a row. I am sure you don't have unlimited bankroll. I would rather divide my bankroll into stakes and bet normally if you depend on luck to win to win your bet.

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Quote from: crwth on September 13, 2018, 02:56:42 AM

Quote from: Sukut on September 12, 2018, 04:44:07 PM

Sounds like someone lost big money to me Cheesy

Probably the only time that it could really work is that when you stopped playing when you already won. You think it doesn’t work, but it does work in a way. Just not all the time. Especially when you continuously gamble. I hope he gets over it fast.

That's it. You CAN get profits using martingale strategy, but you needs to know when to stop when using martingale. I mean, martingale is not completely 100% shit lol.

crwth

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Quote from: Sukut on September 12, 2018, 04:44:07 PM

Sounds like someone lost big money to me Cheesy

Probably the only time that it could really work is that when you stopped playing when you already won. You think it doesn’t work, but it does work in a way. Just not all the time. Especially when you continuously gamble. I hope he gets over it fast.

ocid

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Quote from: nydiacaskey01 on September 12, 2018, 06:51:52 PM

It's pure sh*t because it doesn't work. I call it pure sh*t not because it didn't work for me but because the strategy benefits the bank or the owner. Imagine how much you need to stake and how many tries you need to make before you can recover the loss that you made on the first 3 tries that failed to give you profits.

maybe the strategy can only work if we are having good luck, but if it is able to be done repeatedly, most of these strategies only make lust because they expect a bigger victory but most of those who do it will only experience a huge defeat.

nydiacaskey01

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It's pure sh*t because it doesn't work. I call it pure sh*t not because it didn't work for me but because the strategy benefits the bank or the owner. Imagine how much you need to stake and how many tries you need to make before you can recover the loss that you made on the first 3 tries that failed to give you profits.

Sukut

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Sounds like someone lost big money to me Cheesy

Taki

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I also do not understand those people who promote martingale strategy of betting, they must be a casino's agents or just people who come to gamble with very big amount of money to spend. I also tried the strategy on dice games and I simply lost everything, so I do not even try to play it again,it is worthless.

vd309

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I posted my stats for 100k bets using martingale in another thread and I'd share it here as well: https://imgur.com/a/RnLeLAg
I've used 14 strike stop-loss rule, so on every 14 loses in a row I take the loss and start again. This should happened around 1 out of 14250 times and is calculated by taking the chance to lose 0.505^14 (because the 1% edge). You can see I didn't hit the stop loss for over 60k bets then hit twice in couple of thousand. I guess luck is pretty big factor even in that 100k sample and finished on positive side. Martingale isn't a winning strategy but it is as valid as other strategies facing the provably fair dice on 1% edge. It is just a method of play.

kurian

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Quote from: crwth on September 12, 2018, 04:24:13 AM

Quote from: Kevin77 on September 12, 2018, 03:07:37 AM

Quote from: kurian on September 06, 2018, 12:05:51 PM

I have found a well explained post from an another topic which would obviously make you understand why Martingale won't work for long. It is not worth to risk a large amount of money for a small profit. No matter how much bankroll you have, this strategy could wipe out the entire balance as simple as that.

A well explained post indeed, I must say. I have argued with certain people in the past about things like this and how long streak of losses can hit your game and then you are left with nothing, this certainly is a mathematical representation of what happens with just only 20 streaks which is something that can easily be seen and a lot of people tend to discard. At 20 streaks of losses, such individual is already at a loss of a total of 1048575sats, over pursuing 1 satoshi. That is like taking a lot of risk over something insubstantial.

I do see many gambler here are sharing about their 30+ losing streaks also. Still, I am not seeing any possibilities for such things to happen in real life but more frequently happening with online environments. I mean where is the actual problem is occurring ? Concluding this mathematical formula as not suitable will ignore the basics of probabilities and permutation ?

Mathematical things will never react based on environments. But unfortunately, by keeping the full faith on those gambling houses, we do get ready to call one mathematical formula as a pure shit. Ridiculous gamblers Shocked

.

Well I guess what happens happens whether it should be positive or negative, it happened already and you can never get it back. And what caused it? When gambling, it’s greediness and it doesn’t serve anyone or anything else. Risking everything would mean total devastation of your balance. For mathematics, it just happens to be that lucky strike.

Exactly! When we use martingale strategy we double on every loss we make. For the first couple of bets the amount to recover may be small but, eventually we would risk big amount doubling on losses. That's how we end up busting the entire balance. Actually we are hoping to recover everything with a one last bet (Most probably it won't happen xD).

crwth

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Quote from: Kevin77 on September 12, 2018, 03:07:37 AM

Quote from: kurian on September 06, 2018, 12:05:51 PM

I have found a well explained post from an another topic which would obviously make you understand why Martingale won't work for long. It is not worth to risk a large amount of money for a small profit. No matter how much bankroll you have, this strategy could wipe out the entire balance as simple as that.

A well explained post indeed, I must say. I have argued with certain people in the past about things like this and how long streak of losses can hit your game and then you are left with nothing, this certainly is a mathematical representation of what happens with just only 20 streaks which is something that can easily be seen and a lot of people tend to discard. At 20 streaks of losses, such individual is already at a loss of a total of 1048575sats, over pursuing 1 satoshi. That is like taking a lot of risk over something insubstantial.

I do see many gambler here are sharing about their 30+ losing streaks also. Still, I am not seeing any possibilities for such things to happen in real life but more frequently happening with online environments. I mean where is the actual problem is occurring ? Concluding this mathematical formula as not suitable will ignore the basics of probabilities and permutation ?

Mathematical things will never react based on environments. But unfortunately, by keeping the full faith on those gambling houses, we do get ready to call one mathematical formula as a pure shit. Ridiculous gamblers Shocked

.

Well I guess what happens happens whether it should be positive or negative, it happened already and you can never get it back. And what caused it? When gambling, it’s greediness and it doesn’t serve anyone or anything else. Risking everything would mean total devastation of your balance. For mathematics, it just happens to be that lucky strike.

Kevin77

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Quote from: kurian on September 06, 2018, 12:05:51 PM

I have found a well explained post from an another topic which would obviously make you understand why Martingale won't work for long. It is not worth to risk a large amount of money for a small profit. No matter how much bankroll you have, this strategy could wipe out the entire balance as simple as that.

A well explained post indeed, I must say. I have argued with certain people in the past about things like this and how long streak of losses can hit your game and then you are left with nothing, this certainly is a mathematical representation of what happens with just only 20 streaks which is something that can easily be seen and a lot of people tend to discard. At 20 streaks of losses, such individual is already at a loss of a total of 1048575sats, over pursuing 1 satoshi. That is like taking a lot of risk over something insubstantial.

I do see many gambler here are sharing about their 30+ losing streaks also. Still, I am not seeing any possibilities for such things to happen in real life but more frequently happening with online environments. I mean where is the actual problem is occurring ? Concluding this mathematical formula as not suitable will ignore the basics of probabilities and permutation ?

Mathematical things will never react based on environments. But unfortunately, by keeping the full faith on those gambling houses, we do get ready to call one mathematical formula as a pure shit. Ridiculous gamblers Shocked

.

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Quote from: BALIK on September 11, 2018, 11:13:49 AM

I'm legit sick of hearing people talking about their dice strategy, or their blackjack strategy etc. There is absolutely nothing you can do to defeat the house edge on these games other than cheating, face it people, your strategy is bullshit, you just go completely lucky and you will get rekt eventually if you continue with your delusions.

Yeah dice is a game of streaks and whether people accept it or not, it's not them or their strategies that'll determine the outcome but pure luck. A couple of losing streaks could use up all your money with martingale.

Betwrong

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Quote from: adaseb on August 30, 2018, 02:07:31 AM

I am pretty sure we all fell for the easy martingale trick, especially when it comes to dice.

We all played with 50/50 win rate and whenever we got a loss, we doubled our bet until we won and broke-even. It was almost like free money until we got like 15 nasty red losses in a row.

Basically a better strategy is to just do reverse martingale and if you get lucky you can win some huge amounts with little risk.

Bet 10 Satoshi's and if you win... bet 20 Satoshi's. If you lose, you keep betting 10 Satoshi's and never more. If you win and lose again, then you only lose 10 Satoshi's and no more.

This way you can control your losses and if you get lucky with 20 wins in a row your 10 Satoshi base bet will be a huge winner on the 19th win. However many emotions to do this one right because most will stop playing after 7-8 wins.

I can confirm that reverse martingale is a fun strategy to play with. Actually, that's how I earned/won my very first 100k satoshis. The faucet on a dice site was around 1k sats at the moment and I was playing with 2x multiplier (not knowing that one can play with any multiplier they want). I remember maxing after every win until reaching to over 100k sats on my balance. It's fun to play with strategy from time to time, but don't put it on autobet.

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I'm legit sick of hearing people talking about their dice strategy, or their blackjack strategy etc. There is absolutely nothing you can do to defeat the house edge on these games other than cheating, face it people, your strategy is bullshit, you just go completely lucky and you will get rekt eventually if you continue with your delusions.

emberbekas

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Quote from: Barcode_ on September 05, 2018, 05:10:43 AM

That is one of the reason I always avoid interacting with people who claims they are able to beat the casino with their martingale strategy in the chat room. In my opinion, the people who claims to have a winning strategy in gambling is obviously fake as they would be a millionaire themselves using that strategy, all the games in the casino would always have a house edge against the players, and this house edge advantage on the casino side would gives the casino a higher chance to beat the gamblers in the long run.

Gambling business already exists and is able to survive for a long time, which means, no strategy has been able to defeat it. Of course, if there is people who claim he has a strategy that can beat the house, surely the person is lying. We as active gamblers have many limitations that certainly won't go in our favor at the long run.

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Quote from: btctalk4life on September 04, 2018, 03:45:57 AM

That's why you never use martingale strategy for long run, once you use it for long run, you will get that 32reds endless streak. So, before that happen, stop when you think its enough.

Thats why you should never use any strategy to gamble. If you are looking at the long term effect then the house will always wins. In short if you mathematically simulate the proabability of the losses then you will find out that the loss is always going to happen. If you get lucky using a strategy then better withdraw it and stop playing because the red streak is going to come soon.

For addicted gambler though when they see a green streak they just want to bet more and more and keep on multiplying their wins. Sadly it always ends up the wrong way

Symphonized

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You can also use martingale just for bumping small bet loses like 1k, you would martingale from 500 -> 1000 -> 2000 and so on it would be simple.
But this is one smaller case.

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That is one of the reason I always avoid interacting with people who claims they are able to beat the casino with their martingale strategy in the chat room. In my opinion, the people who claims to have a winning strategy in gambling is obviously fake as they would be a millionaire themselves using that strategy, all the games in the casino would always have a house edge against the players, and this house edge advantage on the casino side would gives the casino a higher chance to beat the gamblers in the long run.

Theb

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Even if you have a lot of money to start with, there is no guarantee that one of your bets will win first before you run out of money. The problem here is a lot of people who tried this technique where they put a lot of money in their bets turns out losing them all as they got into a losing slump. And of course these persons complaining will start blaming the gambling casino for their misfortune but the real ones to blame are themselves as they are using an unproven strategy for their bets.

milewilda

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Quote from: nl247 on September 04, 2018, 10:27:21 AM

Quote from: btctalk4life on September 04, 2018, 03:45:57 AM

Quote from: TheUltraElite on September 04, 2018, 02:49:09 AM

Quote from: imsotiredofmoviereboots on September 02, 2018, 08:14:28 PM

It's very risky when you are on many levels of your bet but I can say that if you are betting using the martingale strategy with less than $100 then I could say it will work and not just a stupid strategy. It's fun on that level but your heart slows its beat when you have now multiplied your bets into $1k.

You seriously need to try it out yourself and see what happens. In gambling what will be the number of red streaks does not depend on your strategy. When gambling based on martingale method, you can face an endless red streak of more than 32reds and this will wipe out a lot or maybe your entire balance. Does that mean its going to be the method of ultimate profit? In fact there is no such method which can give profits on every roll. Its just luck.

Anything is possible in gambling and so no strategy is going to be fool-proof or full-proof. If you manage to get lucky you may win but you may also lose if you are unlucky.

That's why you never use martingale strategy for long run, once you use it for long run, you will get that 32reds endless streak. So, before that happen, stop when you think its enough.

You should not even start being comfortable with it in the first place. Martingale is just a strategy to prolong the game a bit but not for winning. Even in the short run whether you like it or not, it is still going to end up hitting you hard.

Even on a betting start amount of 1 sats, depending on your bankroll which I believe no sane individual will be gambling with what they can't afford to lose, just 13 to 15 streaks of losses is enough to wipe your account over just a satoshi. That is ridiculous!

When you do focused on 2x payout then holding up long losing streaks will be possible depending on how much money you do have but mostly i have seen 25+ streaks and your money is gone even putting up 1 sats on your bet. Martingale strategy is classic and been used still upto nowadays but for newbie or new gamblers they do have different mindset and appreciation with this common strategy.They do saw some people who make big profits but they dont know that theres always a very big risk behind it before they do attain those amounts.

nl247

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Quote from: btctalk4life on September 04, 2018, 03:45:57 AM

Quote from: TheUltraElite on September 04, 2018, 02:49:09 AM

Quote from: imsotiredofmoviereboots on September 02, 2018, 08:14:28 PM

It's very risky when you are on many levels of your bet but I can say that if you are betting using the martingale strategy with less than $100 then I could say it will work and not just a stupid strategy. It's fun on that level but your heart slows its beat when you have now multiplied your bets into $1k.

You seriously need to try it out yourself and see what happens. In gambling what will be the number of red streaks does not depend on your strategy. When gambling based on martingale method, you can face an endless red streak of more than 32reds and this will wipe out a lot or maybe your entire balance. Does that mean its going to be the method of ultimate profit? In fact there is no such method which can give profits on every roll. Its just luck.

Anything is possible in gambling and so no strategy is going to be fool-proof or full-proof. If you manage to get lucky you may win but you may also lose if you are unlucky.

That's why you never use martingale strategy for long run, once you use it for long run, you will get that 32reds endless streak. So, before that happen, stop when you think its enough.

You should not even start being comfortable with it in the first place. Martingale is just a strategy to prolong the game a bit but not for winning. Even in the short run whether you like it or not, it is still going to end up hitting you hard.

Even on a betting start amount of 1 sats, depending on your bankroll which I believe no sane individual will be gambling with what they can't afford to lose, just 13 to 15 streaks of losses is enough to wipe your account over just a satoshi. That is ridiculous!

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Quote from: TheUltraElite on September 04, 2018, 02:49:09 AM

Quote from: imsotiredofmoviereboots on September 02, 2018, 08:14:28 PM

It's very risky when you are on many levels of your bet but I can say that if you are betting using the martingale strategy with less than $100 then I could say it will work and not just a stupid strategy. It's fun on that level but your heart slows its beat when you have now multiplied your bets into $1k.

You seriously need to try it out yourself and see what happens. In gambling what will be the number of red streaks does not depend on your strategy. When gambling based on martingale method, you can face an endless red streak of more than 32reds and this will wipe out a lot or maybe your entire balance. Does that mean its going to be the method of ultimate profit? In fact there is no such method which can give profits on every roll. Its just luck.

Anything is possible in gambling and so no strategy is going to be fool-proof or full-proof. If you manage to get lucky you may win but you may also lose if you are unlucky.

That's why you never use martingale strategy for long run, once you use it for long run, you will get that 32reds endless streak. So, before that happen, stop when you think its enough.

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Quote from: imsotiredofmoviereboots on September 02, 2018, 08:14:28 PM

It's very risky when you are on many levels of your bet but I can say that if you are betting using the martingale strategy with less than $100 then I could say it will work and not just a stupid strategy. It's fun on that level but your heart slows its beat when you have now multiplied your bets into $1k.

You seriously need to try it out yourself and see what happens. In gambling what will be the number of red streaks does not depend on your strategy. When gambling based on martingale method, you can face an endless red streak of more than 32reds and this will wipe out a lot or maybe your entire balance. Does that mean its going to be the method of ultimate profit? In fact there is no such method which can give profits on every roll. Its just luck.

Anything is possible in gambling and so no strategy is going to be fool-proof or full-proof. If you manage to get lucky you may win but you may also lose if you are unlucky.

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For the one that still beginners they thought that they are impossible to lose because they never see a 20 times lose streak, but they don't know that if you played a lot of times there will be a chance that it happened, and I agree martingale is not worth it at all, you spend a big amount just to win a little money, and for long term we will never win because the casino got house edge advantage, and the casino also got bigger capital

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It's very risky when you are on many levels of your bet but I can say that if you are betting using the martingale strategy with less than $100 then I could say it will work and not just a stupid strategy. It's fun on that level but your heart slows its beat when you have now multiplied your bets into $1k.

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For those who are addicted to gambling, it surely is a need to understand the martingale strategy. A need to satisfy their game cravings (idea to win). But for those rest, it’s not actually a “need”. It’s more like, “why” use it. Gambling addicts tend to use, and they need to gamble. They cannot avoid it, and it's one of the most popular strategies. Some gamble for fun, or out of curiosity and sometimes even because they want to widen their ideas with the approach of it or even connections to a network of people.

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In theory martingale is probably the best method out there as of right now, because the only two variables that should stop it from working is the fact that you'd either run out of money or the bankroll of the gambling site is going to run out of money (or there will be a max bet of some sort)

Though I don't think people should think it's foolproof because it's far from it...

Gambling is a game of chance, and the odds are stacked against you.

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Quote from: gabmen on August 29, 2018, 12:35:39 PM

Pure shit for people who don't have that much funds to use martingale efficiently. If you have a lot of money, then it cam be pretty profitable. Though i agree that it isn't for an extemded time.

Even if people say that there are a lot of funds in your account, you can't ensure a win using martingale since you will be just going home quickly when using this strategy, though I also agree that it is a great strategy for people who really wants to earn money but you will never know the lose streak of your gambling activity so don't follow your emotions or feelings since it might be the reason of your loss.

If you are really in a losing streak, always think about stopping or going back to your starting bet since the more you losing streak, the more you are losing. That is how dangerous this gambling strategy is.

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Quote from: LoyceV on August 28, 2018, 07:41:25 AM

Gamblers want (and need!) to have the illusion they can influence the outcome of the game. And it's part of the fun (or addiction) of playing.

Mathematically, the best thing to do is lower the house edge. That means don't wager the same money more than once. Martingale leads to a large house edge, meaning on average you win more.
The best way to get the lowest possible house edge is to place only one YOLO bet (all-in) at any multiplier you desire. After that, win or lose, don't ever come back!
But that's math, not fun, and most gamblers don't play for the best chances based on math.

The funny thing about Martingale is that new gamblers all think they've invented it Cheesy

I've been there too: "wait a minute, if I just double this, I can win back everything and turn a profit!"

I totally agree, and I’ve said that some times on this board, although using other terms. And I’ve sometimes done it: I’m not too keen on casino games as I play poker where I have edge vs other players and I know I don’t have edge vs the casino but at certain times I’ve made one or two low-odds high-reward bets just to try my luck. Other “strategies” apart from that one will lose money long term.

If you play for fun or entertainment and you get some money from time to time (although losing long-term) it is different matter entirely.

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Quote from: kurian on August 29, 2018, 02:44:46 AM

On prediction games, Martingale is not the only failed strategy. Every other strategy would turn into pure shit if we use it for long term. When we use martingale, it works for some time and we keep on playing then, busting all our balance at the end. It is us who make martingale a 'pure shit'. We understand the outcomes of using same strategy for long and we keep on doing it.

Exactly! This is gambling and it is not like some business venture or some service you want to render and would require you to make use of some skills or strategies to get the best of it. This is centered on pure basic luck and if anyone gets too cozy making use of strategy, whether martingale, labouchere, taking craps odds or whatsoever strategy you think you have, you will still end up losing at the end of it all.

Like you said, a lot of people still understand this but they just keep hoping that one day it would work for them. That is like repeating the same thing and expecting different results.

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Quote from: AT101ET on August 27, 2018, 02:24:58 PM

Most these strategies don’t work. This is just another such example where logic is impeded by greed.

Logic impeded by greed indeed. Everything about trying to find a strategy all balls down to people or gamblers consoling themselves on a solution that can work and a reason to gamble further.

Logically and in reality, gambling is meant to make the gambler lose money, otherwise it would never be a profitable venture for the casino or gambling platform owners and I believe that is one thing a lot of greedy gamblers do not get to think about before they go ahead gambling.

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Quote from: btcdevil on August 28, 2018, 04:02:18 PM

Just play for some bets and when you win just leave for the day and come fresh next day. That way you can win for some time but it is better to leave it when you are in profit and go for sports betting or else better leave the gambling and better do some job and be happy in life with what you have.

I still do not know why a lot of people caption that as beginner's luck when indeed it is just the system trying to get you comfortable with your bets as a beginner so at a point you can get to put in more in the long run with the hope things will always work out in your favor.

Well, that is what I want to believe most online gambling sites are usually after. The get to play with your mindset, fine tune it to their favor and then when the time comes, they hit you so hard, you won't know where the pain is coming from. Worst of all, put your hopes in strategy and you will be counting your losses pretty fast and even adding an addiction to your profile.

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I am pretty sure we all fell for the easy martingale trick, especially when it comes to dice.

We all played with 50/50 win rate and whenever we got a loss, we doubled our bet until we won and broke-even. It was almost like free money until we got like 15 nasty red losses in a row.

Basically a better strategy is to just do reverse martingale and if you get lucky you can win some huge amounts with little risk.

Bet 10 Satoshi's and if you win... bet 20 Satoshi's. If you lose, you keep betting 10 Satoshi's and never more. If you win and lose again, then you only lose 10 Satoshi's and no more.

This way you can control your losses and if you get lucky with 20 wins in a row your 10 Satoshi base bet will be a huge winner on the 19th win. However many emotions to do this one right because most will stop playing after 7-8 wins.

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Quote from: LoyceV on August 28, 2018, 07:41:25 AM

Gamblers want (and need!) to have the illusion they can influence the outcome of the game. And it's part of the fun (or addiction) of playing.

Mathematically, the best thing to do is lower the house edge. That means don't wager the same money more than once. Martingale leads to a large house edge, meaning on average you win more.
The best way to get the lowest possible house edge is to place only one YOLO bet (all-in) at any multiplier you desire. After that, win or lose, don't ever come back!
But that's math, not fun, and most gamblers don't play for the best chances based on math.

The funny thing about Martingale is that new gamblers all think they've invented it Cheesy

I've been there too: "wait a minute, if I just double this, I can win back everything and turn a profit!"

It is always going to be a loss - more loss strategy as far as I am concerned. If everyone ended up having a win-win strategy, I wonder how the casino owners will be living as large as they do.

Even if by accident you get so lucky, which is the only way you can hit it big, then you might even become a suspect if you keep winning consistently. Every aspect of gambling is luck based and anyone who thinks they can scoop the house edge off their funds will pretty much end up a joker at the end.

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It's pure shit for everyone rich and poor alike. The only difference is the amount of money lost at the end. Let's take for example a basebet of $10 and a bankroll of $10000. I think this is a standard bankroll size for average bettors. A 9-bet losing streak using Martingale strategy will eat more than half of that bankroll - the final balance will be $4890 and you can't even bet 10th time cause the losses would be $5120...
I have seen 20+ bet losing streaks which do happen often mind you. Losing $10000 to earn $10 is it worth it?

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Quote from: btctalk4life on August 29, 2018, 11:51:04 AM

Quote from: btc-facebook on August 29, 2018, 11:42:57 AM

Martiangle is great way to earn quick profit.
Yes, QUICK PROFIT so if you want to gamble for long term better not use martiangle.

If you want to long term betting, I recommend high risk high reward method using 0.01% winning chance rather than 90% winning chance !

Totally agree with this, martingale is works but only for short run and quick profit. It's highly not recommended to use martingale for long run, so just this strategy for a small run, then stop.

Pure shit for people who don't have that much funds to use martingale efficiently. If you have a lot of money, then it cam be pretty profitable. Though i agree that it isn't for an extemded time.

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Quote from: panjul07 on August 29, 2018, 12:13:45 PM

Long term betting with 0.01% winning chance is good? How if you never hit it till you have nothing left on your pocket? Hunting for big payout should be for fun only, as you may not hit ever.

The good thing about betting at very low odds is the very low house edge. You may win or you may lose, but on average you lose much more to the house edge if you play 98% odds.
I've seen someone win for months betting at 10% chance, starting with 10 Satoshi, and inreasing 12% on loss. He won about 60 Bitcoin in those months, and when it failed, he went down to minus 60. This strategy requires a large bankroll.

I made a spreadsheet for this strategy a few years ago. The amazing thing is how large the chance of winning is: If you place 100 rounds at 10% win chance, there's a 99.99734% chance you win one of them!
And that's also the tricky part: don't get fooled by those odds, it's very likely you win a round long before you hit 100 rounds, so your profit isn't as big. And if you play enough rounds, the chance to lose one round quickly goes up.

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Quote from: btc-facebook on August 29, 2018, 11:42:57 AM

Martiangle is great way to earn quick profit.
Yes, QUICK PROFIT so if you want to gamble for long term better not use martiangle.

If you want to long term betting, I recommend high risk high reward method using 0.01% winning chance rather than 90% winning chance !

Quick profit as well as quick lose, martingale can make you lose all your money in few minutes only if you are in a bad luck. Martingale gives the same result no matter you use it for short or long term. The result still depend on your own luck.
Long term betting with 0.01% winning chance is good? How if you never hit it till you have nothing left on your pocket? Hunting for big payout should be for fun only, as you may not hit ever.

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Quote from: btc-facebook on August 29, 2018, 11:42:57 AM

Martiangle is great way to earn quick profit.
Yes, QUICK PROFIT so if you want to gamble for long term better not use martiangle.

If you want to long term betting, I recommend high risk high reward method using 0.01% winning chance rather than 90% winning chance !

Totally agree with this, martingale is works but only for short run and quick profit. It's highly not recommended to use martingale for long run, so just this strategy for a small run, then stop.

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Martiangle is great way to earn quick profit.
Yes, QUICK PROFIT so if you want to gamble for long term better not use martiangle.

If you want to long term betting, I recommend high risk high reward method using 0.01% winning chance rather than 90% winning chance !

Betwrong

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Quote from: LoyceV on August 28, 2018, 07:41:25 AM

Gamblers want (and need!) to have the illusion they can influence the outcome of the game. And it's part of the fun (or addiction) of playing.

Mathematically, the best thing to do is lower the house edge. That means don't wager the same money more than once. Martingale leads to a large house edge, meaning on average you win more.
The best way to get the lowest possible house edge is to place only one YOLO bet (all-in) at any multiplier you desire. After that, win or lose, don't ever come back!
But that's math, not fun, and most gamblers don't play for the best chances based on math.

The funny thing about Martingale is that new gamblers all think they've invented it Cheesy

I've been there too: "wait a minute, if I just double this, I can win back everything and turn a profit!"

This is so true. I've been there too, mate. I encountered gambling first time in my life on freebitco.in and although they have pretty big house edge on their HI/LO game I was so lucky at first that I was making around $2 per day on the site. The funny thing was that I didn't know at the time about existence of autobet so I was doing all my bets manually and was thinking that maybe for some people $2/day is nothing but there are countries where it is a good money, and I thought I invented a method with which poor people can improve their living, although they should work all day making bets.

Seriously, I lost everything I earned before only several days later. What a disappointment it was!

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Quote from: btc_angela on August 27, 2018, 04:57:14 AM

Its because people are still thinking that they can really take and win a lot of money through martingale. In the long run it won't work and the risk factor is multiplied. So I agree, I don't understand some people's infatuation about this system. I have used this strategy short term and change strategy based on what I think is good that time. No fixed set of strategies, just saying.

The kind of thinking that would get their pocket drained eventually.

Martingale sucks and there is no strategy that can ever work effectively for gambling without you exposing yourself to a huge risk eventually since the chances of losing more to gaining so little will always keep increasing.

This is one reason why I still find it amusing why some people think they could end up gambling for a huge profit in the long run as long as they are consistent with a strategy which is why I can see why some people will remain poor since they can never use their head.

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On prediction games, Martingale is not the only failed strategy. Every other strategy would turn into pure shit if we use it for long term. When we use martingale, it works for some time and we keep on playing then, busting all our balance at the end. It is us who make martingale a 'pure shit'. We understand the outcomes of using same strategy for long and we keep on doing it.

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You are correct. In the long run it cannot mathematically work.

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Quote from: Don Pedro Dinero on August 27, 2018, 03:31:14 AM

We keep getting threads about how martingale or martingale-like strategies work, and no matter how many times I (and others) explain it; we still get people saying that it works.

For example:

Quote from: ocid on August 19, 2018, 04:29:13 PM

yes, I think the martingale strategy is more suitable for playing dice because by doing this strategy we can manage the betting money we have well even though this strategy is quite risky but this strategy has been widely used by gamblers

Or

Quote from: pixie85 on August 19, 2018, 04:33:14 PM

... Martingale works in your normal life, but it doesn't work in online gambling where wins are calculated by a computer that does it for all players at once every second.
If you throw a coin and martingale the strategy will seem to work. Try doing it in online gambling like dice and you'll go broke.

With this post, I want to point out and emphasize why it is a pointless strategy: using martingale, you constantly increase your risk to earn proportionally less.

Let’s say that you bet $1 for heads, you toss a coin and lose. For the second bet, you are risking double ($2) to have a net profit of $1. That is the key point and if someone doesn’t understand it I will explain it in more detail. If you lose, in your third bet you are going to risk $4 to have a net profit of $1, and so on. This calculations are made thinking of you playing to toss coins with a fried but if you play in a casino, you have to take into account that the potential profit for one bet is less than 1$.

There is no point in betting for increased risk and decreased potential net profit.

I am sure that we will keep getting shitthreads about how martingale works but I hope some of you understand it and never use that shitstrategy.

This is a very nice detailed post and I'm sure many will now understand the perils of using this dumb strategy. I remember my early gambling strategy and all kept suggesting me Martingale saying they made loads of money, but once I saw it I knew this was a loss making strategy. I'll agree with you there're many people who have posted merits about Martingale, and will keep on posting about it, I hope all read this and understand it perils.

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Quote from: emberbekas on August 28, 2018, 01:08:08 PM

Quote from: milewilda on August 28, 2018, 12:09:46 PM

Quote from: Don Pedro Dinero on August 27, 2018, 03:31:14 AM

With this post, I want to point out and emphasize why it is a pointless strategy: using martingale, you constantly increase your risk to earn proportionally less.

You cant stopped those person who do keep on telling or saying that martingale works its either someone do told them about martingale or do able to discover by himself.They dont realize it on early times since they are just starting up to prove out something specially when they are lucky.They do make profits out of that strategy but sooner or later when martingale bust out for sure they would curse that strategy since we know martingale can wipe out your entire balance on an autobet almost instant.

It is not just martingale that will fail if we keep using it for a long time. Any strategies that exist on gambling will face the same problem as well. Luck won't happen all the time. It will leave us at anytime.

Perfectly said, any strategies wont work for long time, Even beginner luck is also matters. When you join a new site and you used martingale you will win for some bets but after that you will start loosing and in the end you will empty your investment. But this not only happens in martingale but even in any strategy bets. When you are gambling in casinos, dice or even poker also, Same strategy wont give you profit always as opposite will come to know about your strategy and they will play according to it. Same in casino and dice also when you play with same strategy the site will start to know your strategy and you will see that after some bets all your bets are loosing as now the site is knowing your bets that is why.

Just play for some bets and when you win just leave for the day and come fresh next day. That way you can win for some time but it is better to leave it when you are in profit and go for sports betting or else better leave the gambling and better do some job and be happy in life with what you have.

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Quote from: milewilda on August 28, 2018, 12:09:46 PM

Quote from: Don Pedro Dinero on August 27, 2018, 03:31:14 AM

With this post, I want to point out and emphasize why it is a pointless strategy: using martingale, you constantly increase your risk to earn proportionally less.

You cant stopped those person who do keep on telling or saying that martingale works its either someone do told them about martingale or do able to discover by himself.They dont realize it on early times since they are just starting up to prove out something specially when they are lucky.They do make profits out of that strategy but sooner or later when martingale bust out for sure they would curse that strategy since we know martingale can wipe out your entire balance on an autobet almost instant.

It is not just martingale that will fail if we keep using it for a long time. Any strategies that exist on gambling will face the same problem as well. Luck won't happen all the time. It will leave us at anytime.

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Quote from: Don Pedro Dinero on August 27, 2018, 03:31:14 AM

With this post, I want to point out and emphasize why it is a pointless strategy: using martingale, you constantly increase your risk to earn proportionally less.

You cant stopped those person who do keep on telling or saying that martingale works its either someone do told them about martingale or do able to discover by himself.They dont realize it on early times since they are just starting up to prove out something specially when they are lucky.They do make profits out of that strategy but sooner or later when martingale bust out for sure they would curse that strategy since we know martingale can wipe out your entire balance on an autobet almost instant.

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Quote from: swogerino on August 27, 2018, 01:28:55 PM

Martingale is proved to not work in the long run. Even when it worked it needed a huge initial bankroll together with no betting limits , and this thing was common in offline casinos until people started to abuse it and that is when betting limits came into play to make Martingale void and a not working strategy.

If you are thinking to apply it to an online casino, it didn't work since the beginning. An online casino is electronically controlled and that means even if you play 100 reds it may come out as 100 blacks. This is something which has less than 0 chance of probability in real life but in real life the bookies made this strategy to void itself.

Even if you say that this strategy only makes you win your initial bet, there were people in different casinos who only kept playing this until the won and they start over to win again. That was the number one reason why offline casinos have put betting limits.

Actually, there is no strategy at all that has proven to work perfectly well in the long run without failing at some point. I have always seen strategies as just a way for you to elongate your game and at least have a way of going about managing the funds you are gambling with rather than being too greedy, losing everything quickly and still end up not having any fun.

Nevertheless, at the end of it all, it still balls down to one single thing, and that is losing. Even those who manage to get lucky and win big usually end up gambling it all away out of greed anyway. This may sound like contradicting myself like how a lucky person will lose all. That is the thing where human blame and makes a mathematical formula shit. We cannot prove a mathematical thing wrong still we cannot use that for making profits hence we need to analyze where is the actual thing which went wrong. One is greed and another thing is practical limitation while gambling.

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This is why I tend to shy away from games like dice and roulette. Some people may try strategies to make things a bit more interesting, but they will never work due to house edge in play, and there's really nothing fun about the games themselves to me, which is also a big factor to why I enjoy eSports betting. I watch the matches, I learn new strategies from the streams from analyzing players, and this helps me with predicting winners.

Unless a game has technical flaws and isn't implemented correctly somehow, strategies such as martingale will never work.

christian07

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Mostly we lose in that strategy OP still some of your example in post win in that so there's a chance that really we can win too and i experience that too when i'm newbie then if you don't like it don't try that again and find other way to win for me use different kinds of strategy then martingale is one of it because there's possible always in winning if your luck

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Gamblers want (and need!) to have the illusion they can influence the outcome of the game. And it's part of the fun (or addiction) of playing.

Mathematically, the best thing to do is lower the house edge. That means don't wager the same money more than once. Martingale leads to a large house edge, meaning on average you win more.
The best way to get the lowest possible house edge is to place only one YOLO bet (all-in) at any multiplier you desire. After that, win or lose, don't ever come back!
But that's math, not fun, and most gamblers don't play for the best chances based on math.

The funny thing about Martingale is that new gamblers all think they've invented it Cheesy

I've been there too: "wait a minute, if I just double this, I can win back everything and turn a profit!"

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Glad to see somebody actually understand statistics, none of these strategies will work in the long term, they only increase your odds of winning small amounts in the short term. The annoying thing is that those who win using these strategies tend to come on here and start bragging about their success with some strategy or other, ignoring the fact that 90% of other people will fail to turn a profit using the exact same strategy. Never use an outlier as an indication.

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Quote from: Don Pedro Dinero on August 27, 2018, 03:31:14 AM

We keep getting threads about how martingale or martingale-like strategies work, and no matter how many times I (and others) explain it; we still get people saying that it works.

For example:

Quote from: ocid on August 19, 2018, 04:29:13 PM

yes, I think the martingale strategy is more suitable for playing dice because by doing this strategy we can manage the betting money we have well even though this strategy is quite risky but this strategy has been widely used by gamblers

Or

Quote from: pixie85 on August 19, 2018, 04:33:14 PM

... Martingale works in your normal life, but it doesn't work in online gambling where wins are calculated by a computer that does it for all players at once every second.
If you throw a coin and martingale the strategy will seem to work. Try doing it in online gambling like dice and you'll go broke.

With this post, I want to point out and emphasize why it is a pointless strategy: using martingale, you constantly increase your risk to earn proportionally less.

Let’s say that you bet $1 for heads, you toss a coin and lose. For the second bet, you are risking double ($2) to have a net profit of $1. That is the key point and if someone doesn’t understand it I will explain it in more detail. If you lose, in your third bet you are going to risk $4 to have a net profit of $1, and so on. This calculations are made thinking of you playing to toss coins with a fried but if you play in a casino, you have to take into account that the potential profit for one bet is less than 1$.

There is no point in betting for increased risk and decreased potential net profit.

I am sure that we will keep getting shitthreads about how martingale works but I hope some of you understand it and never use that shitstrategy.

A lot of gamblers and wannabe gamblers will always want to console them-selves with a strategy that will never work irrespective whether they are going through with it online or traditionally. Martingale like you said; just keeps setting you on higher risk by increasing your level of losses to just a very minute thing you want to be gaining at the end of it all and that to me is a very high risk to take.

However, gambling generally is a high risk and I expect anyone to know that even before gambling irrespective of whether they think they have found a strategy that works or not.

AT101ET

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Most these strategies don’t work. This is just another such example where logic is impeded by greed.

jacee

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Like I said on another thread here about martingale, the longer you play with this strategy, the higher the risk is and the lower you will get. I don't get why people can not understand a simple explanation like that. Martingale might be fun but it's not something you would want to use if you want to take home some money.

I've found this somewhere:

Quote

The main idea of this strategy originates from the theory that no one can hit a large number of consecutive losing bets, or in other words – that no one can lose all the time.

It's a theory. So why does people bother using it if it does not guarantee a win?

mindrust

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Martingale's problem is that it makes you play more. Almost every casino out there has an house edge and the house edge guarantees your lose in the long run. That's why martingale is poison. Just go all in instead of doing martingale for hours, you have much more chances of winning.

Wendigo

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First off I am not a proponent of Martignale in the slightest, but I have to admit I have heard stories about gamblers using Martingale to bet on roulette in brick-and-mortar casinos and consistently winning. Now I don't visit casinos much so I can't vouch for those, however I have tried running Martingale with really low stakes on crypto dice sites and always ended up getting busto after a ridiculously long losing streak. Yeah these things do happen a lot and you are not immune to them not happening to you. Martingale is too much risk for minimal gain and I say it's not worth it. I wouldn't risk running my bankroll into the ground for laughable profit.

swogerino

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Martingale is proved to not work in the long run. Even when it worked it needed a huge initial bankroll together with no betting limits , and this thing was common in offline casinos until people started to abuse it and that is when betting limits came into play to make Martingale void and a not working strategy.

If you are thinking to apply it to an online casino, it didn't work since the beginning. An online casino is electronically controlled and that means even if you play 100 reds it may come out as 100 blacks. This is something which has less than 0 chance of probability in real life but in real life the bookies made this strategy to void itself.

Even if you say that this strategy only makes you win your initial bet, there were people in different casinos who only kept playing this until the won and they start over to win again. That was the number one reason why offline casinos have put betting limits.

sportbettor

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About examples of application of the Martingale theory in practice, you can read here: http://sportstatist.com/the-pitfalls-of-martingale-money-management-strategy/

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Quote from: boyptc on August 27, 2018, 06:26:25 AM

It really don't work and we can't also be sure of it if those people who are saying it works for them are telling the truth.

Only those who have enough money and are ready to experiment even if they lose their money who are fine can try it out by them self and get the idea of this if it works in some game or every game and does it work in all casinos or some of them to get assurance of this strategy.

wuvdoll

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I wholeheartly agree. Someone finally did the math but even without doing the math we can clearly see the house edge. I mean why do people think they can win with ANY strategy when even the casinos say they have a house edge ?

If there is "house edge" why do you think you can win with any strategy, what does comes to your mind that makes you think you can win in the long run and found a "strategy" thats for sure winning. Let that aside, why would you think you can win when gambling has been around for YEARS now (even in roman times people gambled) and you were capable of finding a way to win every time or even most of the time and can come up with a profit on a CASINO.

chris200x9

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Quote from: btc_angela on August 27, 2018, 04:57:14 AM

Its because people are still thinking that they can really take and win a lot of money through martingale. In the long run it won't work and the risk factor is multiplied. So I agree, I don't understand some people's infatuation about this system. I have used this strategy short term and change strategy based on what I think is good that time. No fixed set of strategies, just saying.

People who are new to gambling think that by doubling their bets and when they win they will be in a profit. But they forgot a couple of things like house edge, they can get unknow continuous losses and every house has its highest best size so even they are ready to double their bet but the system doesn't allow them to do it. So they can't beat the system at the end. Most of the gamblers will realize this point after some time but only some gamblers think that they can beat the house by tweaking here and there so they will continue playing this game.

iv4n

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Welcome to the club. Martingale scheme doesn't work all the time, sooner or later you come to point where you don't have enough money for next bet, or casino has a limit, maximum high bet. But it's like that when you exploit something, there isn't strategy that works all the time, I always point out that in gambling you need to combine strategies, how to that depends on the game you choose, your bankroll, and how the game is going, you need to recognize moment in game and in that moment to apply strategy that might work.
Martingale is is aggressive gambling, in most of lucky based games you need to play aggressive and rise bets after one or more misses, but don't push just high, high, high, make random bets, two times low, four times high, don't rise bets only if you lose, do that even when you win.

Indamuck

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I still think martingale is good in theory but casino limits make it unfeasible. If there were no max betting amounts a billionaire could walk in and clean out a casino. The chances of losing 30+ times in a row is extremely small.

I never use this strategy myself, I would rather just place a few big bets.

boyptc

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It really don't work and we can't also be sure of it if those people who are saying it works for them are telling the truth.

DeathAngel

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Most strategies are bull shit & even if they do work temporarily it’ll never last. There’s a reason why you never see a poor bookie or casino.

You might as well just dump 6 chips on your favorite numbers, you stand just as much a chance that way.

Don Pedro Dinero

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The article explains very well what martingale is and its origins. Also, when it talks about numbers 0 and 00 in the roulette is what I was talking about in my example with the rake, when after certain bets there is no potential net profit, only loss.

As for trading, the article ends with ad links to forex sites, so I would take it with a pinch of salt. It is talking about doubling the investment to break even, not to make money, so, again, increasing risk for low or no return.

avikz

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Like you have correctly pointed out, Martingale is essentially a strategy to increase risk at every loosing stake and decrease risk at every winning stake. This strategy originated from France during 18th century and doesn't hold much significance at current technological point of gambling industry where everything is algorithm driven. Martingale works when a game is probability driven and that's how it has started to see a lot of application in games industry.

Instead this strategy may work in forex market. I have found a very nice article which explains this strategy in a very detailed manner but for forex industry. That may help a lot of forex traders to educate themselves on this strategy,

https://www.investopedia.com/articles/forex/06/martingale.asp

But I second the statement of OP that this strategy is not really meant for gambling and especially online gambling!

Don Pedro Dinero

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Quote from: just_Alice on August 27, 2018, 03:58:10 AM

Yes, absolutely! That's what I was trying to tell everyone - maximum you can win using this strategy is your INITIAL BET and there comes dilemma: on one hand you want this number to be the biggest possible, because you don't wanna win $1, on the other hand the more you bet the more exponentially you lose in the end. E.g. first bet was $50, that goes up to $1,6k if you get only 6 loses in a row (and we all know that sky is the limit, it can be 12 as well). Therefore, if you constantly play martingale you're doomed, eventually you lose everything.

Yes, and that’s without counting the rake. Let’s say that with those $50 you play a toss-coin-like game in a land-based casino, and they charge you 5% rake on the profit. If you win the initial bet, your net profit is gonna be $47.5. For the second bet it’s gonna be $45, for the third, $40, for the fourth, $30, for the fifth $10, and for the sixth you won’t have any potential profit at all. It will all be loses.

Correct me if I’m not correct.

btc_angela

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Its because people are still thinking that they can really take and win a lot of money through martingale. In the long run it won't work and the risk factor is multiplied. So I agree, I don't understand some people's infatuation about this system. I have used this strategy short term and change strategy based on what I think is good that time. No fixed set of strategies, just saying.

just_Alice

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Yes, absolutely! That's what I was trying to tell everyone - maximum you can win using this strategy is your INITIAL BET and there comes dilemma: on one hand you want this number to be the biggest possible, because you don't wanna win $1, on the other hand the more you bet the more exponentially you lose in the end. E.g. first bet was $50, that goes up to $1,6k if you get only 6 loses in a row (and we all know that sky is the limit, it can be 12 as well). Therefore, if you constantly play martingale you're doomed, eventually you lose everything.

Don Pedro Dinero

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We keep getting threads about how martingale or martingale-like strategies work, and no matter how many times I (and others) explain it; we still get people saying that it works.

For example:

Quote from: ocid on August 19, 2018, 04:29:13 PM

yes, I think the martingale strategy is more suitable for playing dice because by doing this strategy we can manage the betting money we have well even though this strategy is quite risky but this strategy has been widely used by gamblers

Or

Quote from: pixie85 on August 19, 2018, 04:33:14 PM

... Martingale works in your normal life, but it doesn't work in online gambling where wins are calculated by a computer that does it for all players at once every second.
If you throw a coin and martingale the strategy will seem to work. Try doing it in online gambling like dice and you'll go broke.

With this post, I want to point out and emphasize why it is a pointless strategy: using martingale, you constantly increase your risk to earn proportionally less.

Let’s say that you bet $1 for heads, you toss a coin and lose. For the second bet, you are risking double ($2) to have a net profit of $1. That is the key point and if someone doesn’t understand it I will explain it in more detail. If you lose, in your third bet you are going to risk $4 to have a net profit of $1, and so on. This calculations are made thinking of you playing to toss coins with a fried but if you play in a casino, you have to take into account that the potential profit for one bet is less than 1$.

There is no point in betting for increased risk and decreased potential net profit.

I am sure that we will keep getting shitthreads about how martingale works but I hope some of you understand it and never use that shitstrategy.

Topic: Why martingale is PURE SHIT. (Read 2144 times)