IMO the martingale strategy sacks because it's not for players on a budget and it never works and if the casino has set a limit on total amount that can be wagered in a single round , this strategy isn't any good.
Some gamblers who used that strategy said that it works for them but it's a fact that the majority who tried it can say that it's not an ideal strategy for us.
But for some, it works for them, they're on the budget and it's true that you need a certain amount of bigger budget for committing this strategy.
So, you say that there is a guy that comes with 100 bitcoin, starts with the lowest amount and doubles on every loss. Finally, because of his high budget, he is able to take the wins and have a nice day at Ibiza during the whole summer. Cmon, if someone wins, that's because of luck! You can't beat mathematics with your budget, 1% house edge means that you have a disadvantage and in long term, the casino is guaranteed to profit!
I would like to know from gamblers what they do instead of doubling the bet on loss, since martingale is so horrible. If you don't raise your bet after a loss, you are never going to make any profit from gambling. That is my perception on this matter. For this reason people use martingale, because they want to have a chance to make profit at least on short run.
If there were better ways to gamble, would martingale be so popular?
And who said that you should profit from gambling? Every casino warns you to play for fun, not for profit. If you want to profit, then go work, do something.
Why is martingale popular? It's the simplest strategy that comes close to the humans minds. People think: When I lose, the chance of win next time increases, so let's double and get the loss back + some profit. Simple and easy, right?