Martingale system explanation
Martingale system is a betting system of negative progression and consists in doubling the stake in case of the loss. If you stake 1 USD and you will win you can stake another 1 USD on another event. If you stake 1 USD and you will lose you should stake 2 USD on another event. If you will lose again you bet 4 USD and so over - until you will have finally won. Then you are returning to your basic stake - 1 USD.
The Martingale system seems to be a really good one but it has wrong assumptions. You must have unlimited money and the stakes must be unlimited too. It is obvious that it can not be fulfilled. In simple words if you are using the Martingale system you will be often winning small amounts of money but when you lose one time - you will lose a great amount.
I think that the Martingale system would be interesting combined with some other systems (like finding a value bets). The income from winning these bets is higher so the whole system may be working better. The Martingale system may be appropriate for those players who have a small initial bankroll. Remember however that this strategy is not expected to give you an income in a long run. If you are looking for a more reliable betting system - take a look at the Betting Arbitrage system.
Martingale system example
Let's assume that the chance of winning every event is 50% and the bookmaker's odds is 2.00 and you will win after 6 rounds (it is quite a bad luck - the probability of not winning in five rounds equals 1/32 = 0.03125. But remember - it still happens!). It means that you had to bet 1 + 2 + 4 + 8 + 16 + 32 USD = 63 USD. Your last stake (the winning one) was 32 USD. The odds is 2.00 so you win 64 USD (one dollar more than you had to stake). Looks great? Imagine however what would be if you lost six times in a row and you no longer have money. You will be very dissatisfied with Martingale system.
Labels: Betting Systems