Why the martingale system sucks! (doubling down on losses) - page 10.

tabas

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Quote from: Oilacris on May 21, 2021, 06:19:32 PM

Quote from: tabas on May 21, 2021, 06:03:37 PM

Yes, it's effectiveness will depend on the person that uses the strategy. If he's aware what shall it bring in the long term, then he's using the strategy well.
But there are a lot of gamblers that do this because they've just heard it and wanting to try it because they've heard that it's going to give them vast of profit.

Out of curiosity in short!

People are highly reactive into some tips and rumors that a certain strategy does work in gambling and when they able to know then thats the time they would make use of it and some
or lets say majority of them get wrecked due to wrong believe and anticipation.

If someone does have that kind of control on when to take out profits then they are the ones who would mostly been end up on making out without busting their entire balance.

Truth to be told that theres no such strategy does exist on beating up these kind of games, they might work but doesnt guaranteed from time to time.

Yes, that can be it. When they're curious with a strategy, they want to try it on their own and see what others saying is true or not. But not everyone executes it pretty well.
Because many of those people who tries it out are also sharing the same experience those who have tried it yet it's not effective.

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Quote from: xSkylarx on May 21, 2021, 08:18:55 PM

Martingale is a double-edged strategy. You double your bet everytime you lose and with this strategy you can easily recover your loses from the previous bet in just a single win but if luck is not on your side, your capital can still be all eaten if you keep hitting lose streaks. I've tried this technique when I was new in crypto gambling and it only works once. And if you manage to double your bankroll using this strategy I suggest that to stop playing or else the house will get back what you've won.

Martingale gives an illusion after a loss that you should win the next bet but the reality is that every bet has the same chance of winning 50% and losing 50% (not considering house edge here) so you despite losing 10 bets cannot feel comfortable rolling the dice 11th time because it can again be lost and in fact has an equal chance in contrast to winning.

It is not a bad strategy either if you are trying to recover from a small loss. Imagine you deposit 0.05BTC and lost some 0.001 then you can easily set the base bet of 0.00001BTC and cover your loss with minimal luck involved. It becomes a problem if you are trying to chase a big loss because it might not work and you will then have an even bigger loss to look at.

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Quote from: uneng on May 22, 2021, 01:36:13 AM

Snip--

Because I see everyone blaming martingale, but no one indicates a better method to be used.

There is no such strategy in the gambling, its purely a luck or we can say as coincidence. What we are saying is if you find difficult to recover your loss and decided to go with martingale since you heard that it can help you with recovering the losses but the strategy you are going to cause you more losses if the luck is not on your side.

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The Martingale technique is probably the most well known of these techniques. However as a word of caution we would say that you can go deeper before it takes effect in this strategy you are constantly placing the same bet if it is lost you place the same bet for each loss the size of the bet should be doubled eventually, you will even break the sooner you win the point you will recover all your lost points. Betting outside can give you better results when your pockets feel thinner once you have replenished your stocks you can start branching out in risky ways.

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Quote from: uneng on May 22, 2021, 01:36:13 AM

-snip-
Because I see everyone blaming martingale, but no one indicates a better method to be used.

This has a very simple background: There is no strategy that is always successful in every situation. If there were, then there would be no more casinos because of course everyone uses the strategy and the casinos would be bankrupt in no time.

In the end, it always comes down to the fact that you can't beat the house (the so-called house edge). Some days you go home with profits, many others not. The more you play, the closer your win <-> loss ratio gets to the House Edge (which is eg. 1%).

Martingale works well in some situations, but only takes advantage of the effect that, for example, 7 blacks in a row is very unlikely (but still happens, of course).
Why 7? Imagine you are playing with a 5 dollar bet. If you were unlucky enough to get black 6 times in a row, but you bet on red, you would have to bet almost $60,000 on the 7th game to make up for the loss. You would need a huge stack to accomplish that ...

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Quote from: semobo on May 22, 2021, 12:15:35 AM

Quote from: uneng on May 21, 2021, 06:58:00 PM

Quote from: johhnyUA on May 21, 2021, 05:54:44 PM

Quote from: DoublerHunter on May 21, 2021, 05:46:03 PM

^ Probably but Martingale's strategy has been created not to become a winning strategy, that is true. This method does not apply anywhere and is depending on what situation you are currently in. It will only be effective when you knew that you are already losing often now and you want to recover quicker than you used to be. Most of the gamblers use this method not even knowing that this has a name. And this is effective if you have your bank secured. Nevertheless, I won’t recommend this if you only gamble for fun and trying out games.

Whaaaaat?
The most epic nonsense post from all what I've seen by this week.

1. What sense in such strategy if it's not about "winning"?
2. How mathematical probability depends on "what situation you're currently in"? If I'm in bad situation, then Martingale will better fit for me or not? Grin

3. "recover quicker" but wasting all your money with Martingale? Martingale isn't working so I doubt that you can recover even small amount of funds with it.
4. Most gamblers don't use this method. So they no need to know how it called.
5. I won't recommend it in any case if you don't want just to waste all your money in few spins.

Why nonsense? Martingale really doesn't guarantee profitability (winnings) on long run, but it can help you making profit for a while. If you are lucky and know when to stop, it's possible to make some profit thanks to this strategy. Martingale looks bad, but playing without martingale can be worse. Or maybe is there a better method to play I am not familiar with?

You lost once and you are going to double the bet amount if you are following the strategy then you may lose again since you didn't have luck with the first bet so probably the same goes with the second bet which means you are losing more than how much it supposed to be, so its a strategy may work mathematically but really sucks in the reality and there is no such thing called winning strategy.

Yes friend, I know about it. But my doubt is what strategy to use instead of martingale?

Because I see everyone blaming martingale, but no one indicates a better method to be used.

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Quote from: uneng on May 21, 2021, 06:58:00 PM

Quote from: johhnyUA on May 21, 2021, 05:54:44 PM

Quote from: DoublerHunter on May 21, 2021, 05:46:03 PM

^ Probably but Martingale's strategy has been created not to become a winning strategy, that is true. This method does not apply anywhere and is depending on what situation you are currently in. It will only be effective when you knew that you are already losing often now and you want to recover quicker than you used to be. Most of the gamblers use this method not even knowing that this has a name. And this is effective if you have your bank secured. Nevertheless, I won’t recommend this if you only gamble for fun and trying out games.

Whaaaaat?
The most epic nonsense post from all what I've seen by this week.

1. What sense in such strategy if it's not about "winning"?
2. How mathematical probability depends on "what situation you're currently in"? If I'm in bad situation, then Martingale will better fit for me or not? Grin

3. "recover quicker" but wasting all your money with Martingale? Martingale isn't working so I doubt that you can recover even small amount of funds with it.
4. Most gamblers don't use this method. So they no need to know how it called.
5. I won't recommend it in any case if you don't want just to waste all your money in few spins.

Why nonsense? Martingale really doesn't guarantee profitability (winnings) on long run, but it can help you making profit for a while. If you are lucky and know when to stop, it's possible to make some profit thanks to this strategy. Martingale looks bad, but playing without martingale can be worse. Or maybe is there a better method to play I am not familiar with?

You lost once and you are going to double the bet amount if you are following the strategy then you may lose again since you didn't have luck with the first bet so probably the same goes with the second bet which means you are losing more than how much it supposed to be, so its a strategy may work mathematically but really sucks in the reality and there is no such thing called winning strategy.

xSkylarx

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Martingale is a double-edged strategy. You double your bet everytime you lose and with this strategy you can easily recover your loses from the previous bet in just a single win but if luck is not on your side, your capital can still be all eaten if you keep hitting lose streaks. I've tried this technique when I was new in crypto gambling and it only works once. And if you manage to double your bankroll using this strategy I suggest that to stop playing or else the house will get back what you've won.

uneng

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Quote from: johhnyUA on May 21, 2021, 05:54:44 PM

Quote from: DoublerHunter on May 21, 2021, 05:46:03 PM

^ Probably but Martingale's strategy has been created not to become a winning strategy, that is true. This method does not apply anywhere and is depending on what situation you are currently in. It will only be effective when you knew that you are already losing often now and you want to recover quicker than you used to be. Most of the gamblers use this method not even knowing that this has a name. And this is effective if you have your bank secured. Nevertheless, I won’t recommend this if you only gamble for fun and trying out games.

Whaaaaat?
The most epic nonsense post from all what I've seen by this week.

1. What sense in such strategy if it's not about "winning"?
2. How mathematical probability depends on "what situation you're currently in"? If I'm in bad situation, then Martingale will better fit for me or not? Grin

3. "recover quicker" but wasting all your money with Martingale? Martingale isn't working so I doubt that you can recover even small amount of funds with it.
4. Most gamblers don't use this method. So they no need to know how it called.
5. I won't recommend it in any case if you don't want just to waste all your money in few spins.

Why nonsense? Martingale really doesn't guarantee profitability (winnings) on long run, but it can help you making profit for a while. If you are lucky and know when to stop, it's possible to make some profit thanks to this strategy. Martingale looks bad, but playing without martingale can be worse. Or maybe is there a better method to play I am not familiar with?

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Quote from: tabas on May 21, 2021, 06:03:37 PM

Quote from: DoublerHunter on May 21, 2021, 05:46:03 PM

Quote from: tabas on May 21, 2021, 05:33:55 PM

Quote from: acquafredda on May 21, 2021, 11:05:13 AM

If one is looking for a way to mathematically lose everything on the long run, then the Martingale Strategy is the way to go. You are guaranteed that given any house edge, eventually, you will lose all your starting bankroll.
You may better be betting everything on a single bet rather than waiting 10 million times to end up loseing everything you have anyway.

Hehe. This is for real. The strategy itself will make those first timers to realize that it's really a way to lose everything they got. If they win for the first few tries then congratulations to them. But as said, if they continue and do it in the long run, they'll definitely lose entirely their bankroll.

^ Probably but Martingale's strategy has been created not to become a winning strategy, that is true. This method does not apply anywhere and is depending on what situation you are currently in. It will only be effective when you knew that you are already losing often now and you want to recover quicker than you used to be. Most of the gamblers use this method not even knowing that this has a name. And this is effective if you have your bank secured. Nevertheless, I won’t recommend this if you only gamble for fun and trying out games.

Yes, it's effectiveness will depend on the person that uses the strategy. If he's aware what shall it bring in the long term, then he's using the strategy well.
But there are a lot of gamblers that do this because they've just heard it and wanting to try it because they've heard that it's going to give them vast of profit.

Out of curiosity in short!

People are highly reactive into some tips and rumors that a certain strategy does work in gambling and when they able to know then thats the time they would make use of it and some
or lets say majority of them get wrecked due to wrong believe and anticipation.

If someone does have that kind of control on when to take out profits then they are the ones who would mostly been end up on making out without busting their entire balance.

Truth to be told that theres no such strategy does exist on beating up these kind of games, they might work but doesnt guaranteed from time to time.

tabas

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Quote from: DoublerHunter on May 21, 2021, 05:46:03 PM

Quote from: tabas on May 21, 2021, 05:33:55 PM

Quote from: acquafredda on May 21, 2021, 11:05:13 AM

If one is looking for a way to mathematically lose everything on the long run, then the Martingale Strategy is the way to go. You are guaranteed that given any house edge, eventually, you will lose all your starting bankroll.
You may better be betting everything on a single bet rather than waiting 10 million times to end up loseing everything you have anyway.

Hehe. This is for real. The strategy itself will make those first timers to realize that it's really a way to lose everything they got. If they win for the first few tries then congratulations to them. But as said, if they continue and do it in the long run, they'll definitely lose entirely their bankroll.

^ Probably but Martingale's strategy has been created not to become a winning strategy, that is true. This method does not apply anywhere and is depending on what situation you are currently in. It will only be effective when you knew that you are already losing often now and you want to recover quicker than you used to be. Most of the gamblers use this method not even knowing that this has a name. And this is effective if you have your bank secured. Nevertheless, I won’t recommend this if you only gamble for fun and trying out games.

Yes, it's effectiveness will depend on the person that uses the strategy. If he's aware what shall it bring in the long term, then he's using the strategy well.
But there are a lot of gamblers that do this because they've just heard it and wanting to try it because they've heard that it's going to give them vast of profit.

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Quote from: FatFork on May 21, 2021, 05:24:07 PM

Yes, I totally agree. Hence the title of this topic: "Why the martingale system sucks!" Wink

It's funny, but many people (especially here) can't get this obvious fact.

Quote from: DoublerHunter on May 21, 2021, 05:46:03 PM

^ Probably but Martingale's strategy has been created not to become a winning strategy, that is true. This method does not apply anywhere and is depending on what situation you are currently in. It will only be effective when you knew that you are already losing often now and you want to recover quicker than you used to be. Most of the gamblers use this method not even knowing that this has a name. And this is effective if you have your bank secured. Nevertheless, I won’t recommend this if you only gamble for fun and trying out games.

Whaaaaat?
The most epic nonsense post from all what I've seen by this week.

1. What sense in such strategy if it's not about "winning"?
2. How mathematical probability depends on "what situation you're currently in"? If I'm in bad situation, then Martingale will better fit for me or not? Grin

3. "recover quicker" but wasting all your money with Martingale? Martingale isn't working so I doubt that you can recover even small amount of funds with it.
4. Most gamblers don't use this method. So they no need to know how it called.
5. I won't recommend it in any case if you don't want just to waste all your money in few spins.

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Quote from: tabas on May 21, 2021, 05:33:55 PM

Quote from: acquafredda on May 21, 2021, 11:05:13 AM

If one is looking for a way to mathematically lose everything on the long run, then the Martingale Strategy is the way to go. You are guaranteed that given any house edge, eventually, you will lose all your starting bankroll.
You may better be betting everything on a single bet rather than waiting 10 million times to end up loseing everything you have anyway.

Hehe. This is for real. The strategy itself will make those first timers to realize that it's really a way to lose everything they got. If they win for the first few tries then congratulations to them. But as said, if they continue and do it in the long run, they'll definitely lose entirely their bankroll.

^ Probably but Martingale's strategy has been created not to become a winning strategy, that is true. This method does not apply anywhere and is depending on what situation you are currently in. It will only be effective when you knew that you are already losing often now and you want to recover quicker than you used to be. Most of the gamblers use this method not even knowing that this has a name. And this is effective if you have your bank secured. Nevertheless, I won’t recommend this if you only gamble for fun and trying out games.

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Quote from: acquafredda on May 21, 2021, 11:05:13 AM

If one is looking for a way to mathematically lose everything on the long run, then the Martingale Strategy is the way to go. You are guaranteed that given any house edge, eventually, you will lose all your starting bankroll.
You may better be betting everything on a single bet rather than waiting 10 million times to end up loseing everything you have anyway.

Well, that is exactly what on my mind.
It has been said many times already, but martingale is only for those who have their gambling experience and expertise on the line. Martingale's method is effective when it comes to the efficiency of recovery, but never to newbies that only try to play and want to have fun. This method is only for those who stay or who can stay in gambling for a long period of time. Not for those who can’t even afford to have their bets put at higher risks. So the bottom line is, it sucks, and it's good depending on what type of gambler you are.

tabas

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Quote from: acquafredda on May 21, 2021, 11:05:13 AM

If one is looking for a way to mathematically lose everything on the long run, then the Martingale Strategy is the way to go. You are guaranteed that given any house edge, eventually, you will lose all your starting bankroll.
You may better be betting everything on a single bet rather than waiting 10 million times to end up loseing everything you have anyway.

Hehe. This is for real. The strategy itself will make those first timers to realize that it's really a way to lose everything they got. If they win for the first few tries then congratulations to them. But as said, if they continue and do it in the long run, they'll definitely lose entirely their bankroll.

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Quote from: johhnyUA on May 21, 2021, 05:18:17 PM

Quote from: FatFork on May 21, 2021, 04:22:06 PM

Fatunad said "20 or 30x losing streak". In this case, losing streaks refers to the martingale strategy with almost 50% chance of winning.

Yep, my bad. But whatever, this doesn't change too much. 30x losing streak will empty your pocket as well as 1000x . Especially if we are talking about martingale, where mathematically we have a sum of geometric progression, with "q" as 2. If we starts from 1 dollar, 30x lost strikes will result in 1073741823 dollars lost. Nice?

So this doesn't make sense to talk about "oh, i will lose 30 bets and when with 50 % prob will get my money back"

Yes, I totally agree. Hence the title of this topic: "Why the martingale system sucks!" Wink

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Quote from: FatFork on May 21, 2021, 04:22:06 PM

Fatunad said "20 or 30x losing streak". In this case, losing streaks refers to the martingale strategy with almost 50% chance of winning.

Yep, my bad. But whatever, this doesn't change too much. 30x losing streak will empty your pocket as well as 1000x . Especially if we are talking about martingale, where mathematically we have a sum of geometric progression, with "q" as 2. If we starts from 1 dollar, 30x lost strikes will result in 1073741823 dollars lost. Nice?

So this doesn't make sense to talk about "oh, i will lose 30 bets and when with 50 % prob will get my money back"

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Quote from: johhnyUA on May 21, 2021, 10:18:35 AM

Quote from: Fatunad on May 14, 2021, 06:37:05 PM

Even if you do make use of Dogecoin and having a base bet of 10 or whatever the minimum then i do believe that even hitting 20 or 30x losing streak would blown out your account.

To hit x20-x30 you need to bet with probability of winning, i suppose, like 0.1 %. With such prob you will run out of your money much faster than will hit jackpot. Sad but true.

Clearly that's not what he meant.
Fatunad said "20 or 30x losing streak". In this case, losing streaks refers to the martingale strategy with about 50% chance of winning (or x2 multiplier).

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Quote from: just_Alice on May 21, 2021, 10:55:36 AM

I think the majority of gamblers know that because of bad luck a losing streak can last longer than expected and their balance can be wiped out. But I'm talking about this feeling "if I had enough money for just 2 more bets, I would survive". They even try to borrow money for those 2 bets, in the chat or else(although borrowing money for putting it at risk right away is the worst thing you can do). This myth about the almighty power of infinite bankroll was created by such gamblers(I used to believe it too in the past). But because of the limit on the max profit, they can't bet infinitely, and I think it is very important to understand that martingale wouldn't work even with the infinite bankroll.

If we argue in complete isolation from reality - mathematically Grin

, then it is obvious that Martingale is a profitable strategy, but even with super-fast execution of bets, the profit relative to the used bankroll will be equal to zero and will always lose to other ways of earning, even such conservative ones as a bank deposit.

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Quote from: dunfida on May 14, 2021, 03:57:54 PM

Quote from: just_Alice on May 14, 2021, 03:39:23 PM

Quote from: madnessteat on May 14, 2021, 05:58:15 AM

Quote from: Woodie on May 12, 2021, 03:30:29 PM

Sometimes martingale works for odd numbers,having the right bank roll and choosing the right games. Because if we all claimed it was that bad people would have stopped talking about it way back ,but instead everyday we see a new betting strategy, somewhere in there some one will mention martingale, besides there is the right way and wrong way of using this strategy.

The standard Martingale strategy links the previous and the next step in the game, but in fact they are not linked by any mathematical or probability characteristics. The probability that every time you flip a coin, the same side will come up is 1/2. Therefore it is impossible to exclude the possibility of n number of one side falling out. Since the player's bankroll is finite, he will lose sooner or later.

Some gamblers are saying "If I had an infinite bankroll, I'd be always winning with martingale", but in reality, even infinite bankroll wouldn't save you in the long run. All gambling sites and, I think, all land-based casinos have a limit on the max win. So, at one point your infinite bankroll can become useless because you won't be allowed to make that bet.

Infinite bankroll does only exist on dreams and not in reality and this is where people does set out that wrong mindset and when they make use of this strategy then most of the time they do bust out.
No matter how big your bankroll is and when the time comes that long losing streak strikes then for sure those balance of yours would really be wiped out in an instant.
Martingale doesnt sucks because it is just only a strategy, it is only to the person who had been using which those having that false belief about easy
money with martingale.

The trouble with the martingale and probably the reason it has persisted so long, is it gives gamblers a "crutch" they can lean on to explain why they are losing. They are losing because they fail to understand the mathematical probabilities and that the outcome of the game is totally disassociated with any previous outcome. Believers of the martingale system can always hide behind the excuse "well you didn't bet big enough" because that is the complete end game in the luckiest of situations. If you randomly stringed together a bunch of wins to make a sizable amount and lost it all on the next bet, you simply don't have enough to double up again. It plays into many gamblers fallacies and it is in the interest of gambling institutions to propagate this myth, so beware of anyone selling this idea.

Topic: Why the martingale system sucks! (doubling down on losses) - page 10. (Read 3297 times)