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How to Play With the Martingale System
This system is very simple. You will use a betting series where each bet in the series is twice as large as the preceding one, as with 1, 2, 4, 8, 16, 32. So long as you win a bet, you will continue to bet at the lowest level, e.g. wager 1. If you lose a bet, you will move up to the next wager, doubling the amount of the previous wager. Use of the system ensures that whenever your wager eventually wins, you will win the amount of the original wager, in this instance 1.
One of my gambling friends once told me about an amazing system he had developed for craps. He had gone to Las Vegas on two consecutive trips and returned a winner. He was wagering only on don't pass at casino craps using a betting series starting with a $1 bet and doubling his bet after each loss. He was certain that his risk of loss was very small and planned to continue to use the system. He was reluctant to share the system with me but he finally confessed that he was using the following betting series, increasing his wager one level following a loss: 1 2 4 8 16 32 64 128 256. He correctly pointed out that he would have to lose nine times in a row to lose the betting series, and he just didn't think that this was possible.
I pointed out to him that there was a very real possibility that he could lose nine decisions in a row; in fact, this would happen once about every 500 pass line - don't pass decisions. With craps decisions averaging fifty to sixty per hour, a loss of all nine wagers could happen once every eight to ten hours. I asked him to consider whether he was winning enough to sustain a loss of $511.00 (the total amount he was risking) in order to win the sum of $1. This must have impressed him as I don't think he ever used this system again (or at least he didn't tell me about losing with it).
Here's a demonstration of how this system would work in a coin flipping contest. You are betting that the next coin toss will be heads. You have a 50-50 chance of winning any given bet. Should you lose a bet, or two bets, or three bets, just keep doubling your wager until you win one bet. Here's the beauty of this strategy. You only have to win one bet to be a winner! Here's how you could use the Martingale System in the coin-tossing contest:
|Amount of Bet||Decision||Win||Loss||Total|
The above sequence of four tails in a row had a one in 16 chance of occurring. The odds of you winning here are 15:1 in your favor! This seems like a pretty safe bet, doesn't it? You'd only hit a losing streak of four straight losses once in every 16 times you played. That's the best part about using the Martingale System.
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