One betting strategy that has withstood the test of time is the Martingale system. It has slowly but surely metamorphosized from being used in brick and mortar casinos to online casinos.
Ask any experienced hand about Martingale, and you’re sure to draw his/her full attention. Some even swear by it. But does this old-age wagering plan guarantee you any wins? Does it work in online casinos? Read on as we delve deeper and in detail whether this system works.
The Origins of the Martingale System
This betting plan can be traced to the famous John Martingale, a London casino owner. He was a proponent of the double up technique to combat house edges. John encouraged players to increase their stakes for them to prosper from losses.
One hundred years later, the first known beneficiary of this betting technique emerged. Mr. Charles Wells broke the bank 12 times while playing roulette using this strategy. From then on, even with the inception of internet casinos in the ‘90s, gamblers have been fascinated by Martingale.
Basic Principle of the Martingale Technique
The primary idea behind this betting plan rests on a fallacy. It’s presumed that an event should happen if it hasn’t occurred for a long time. It requires a punter to chase wins by doubling their initial losing stakes.
Favorable Games for the Martingale System
This tactic is believed to work on any casino game with real money where the player is against the house. However, many consummate gamblers claim that it’s most successful when applied to games with 50/50 odds. It’s therefore heavily used in:
- Blackjack, where the player odds are almost even.
- Roulette, where a win can be black or red.
- Sic Bo, when a player is required to select a number for them to win.
Losing streaks are permitted since it’s statistically possible to nick in some wins and recover some chunks of your bet. But does continuous loosing envisage problems with your bankroll? Proponents of this system have a weird belief of always increasing your stakes and sticking to high-paying odds.
How it’s Used in Online Casinos
The Martingale System is far from complicated. It’s this simplicity that has seen its popularity soar among the wagering community. The plan is so straightforward that beginners can master it within minutes and start applying it.
Use the following rules when playing.
- Each time you lose, double your next stake.
- For every win, only wager a single base unit on the next game. This base unit shouldn’t be a large sum.
Here’s a run down to highlight this scenario.
- Start by staking $10. You lose you end up with -$10.
- Double up to $20, lose, and your losses amount to -$30.
- Double up to $40, lose; you get -$70.
- Double up to $80, win; your bankroll reads $10.
The Martingale System clearly shows that you stand to eventually gain at least one base unit if you keep doubling your amount. Many bettors are driven forward by this analogy. Given the example above, the final $10 you win is still equivalent to your initial stake after such a lengthy round of playing.
Does the Martingale System Work?
Theoretically, it might seem like a brilliant idea, but practically, it fails by a mile. It relies on regression, which can be profitable in the short run, but if you continuously lose, you’ll go bust. Other underlying issues of the Martingale technique are as follows.
Each game has a specific RTP (return to player). The odds are always against you and can never be 50/50. The house has to retain a certain percentage. Given that you are continuously wagering, the cumulative edge keeps on increasing.
Table and Bankroll Limits
To bet concurrently, you’ll require a substantial bankroll. However, many casinos limit the roll amount. Each casino game also has an allowable maximum and minimum bet. You can only double your stakes to a certain point. You risk reaching the maximum cap without winning.