The Mystery of Martingale System and Why to Avoid it
We’ve all heard tales from gamblers about an infallible betting system that can beat the house and guarantee riches. But unfortunately, in gambling, there is no such thing or else there would be no gaming industry. Let’s understand this betting system from close quarters here! Here’s what it is and why you should not rely on it and avoid it.
All about Martingale System?
The Martingale System is a type of betting strategy which is said to have come into existence in the 18th century in France and still is popular today. It is based on a principle that every time you lose a bet, you double your next bet so that the consecutive win leaves you with a small profit that equals to your original stake. It is widely used on games which offer bets with a 50/50 chance, such as Roulette.
Why It Appears to Work
In this theory, a bet is likely to win warding off any losses, leaving the bettor with a small profit, as per the original stake. However, it is based on the Taleb Distribution, which is a strategy that seems to be a strategy of low-risk, offering small and modest profits but which will occasionally witness major losses.
Gambler’s Myth
There are several reasons that this type of systems did not work in real life or practice. It is based on the gambler’s fallacy, the fantasy that eventually you are bound to win. This is just not true – every bet has an equal chance of losing, irrespective of how many chances you have already missed of winning. Minor variance in a game can result in what appear to be long losing streaks or winning streaks when these are in fact ordinary results of chance or luck.
Final Battle more important than the Small Wins
Furthermore, while a weak streak might come to an end, you may not be able to continue using the Martingale System. You might not have a strong bankroll, and ordinary table games do not offer infinite betting limits when you play at an online casino. And when you do experience episodes of losses, doubling the bet each time, your eventual bet will be far bigger than the small wins you would attain when the system works.
Synopsis
Although the Martingale System is tempting, such strategies are usually advocated by those people who have tasted short-term success. This system cannot go a long way to help you win consistently. It is better to bet rationally, using your intuition and playing within your limits than to rely on a system that could cut shot your gaming experience incurring huge losses.