What is the Martingale System?

If you have ever done any kind of betting at all, whether through a sportsbook or a casino, odds are you have at least heard of the Martingale system.  This is probably the best known gambling system in existence.  The idea is quite simple.  You raise your stake every time you lose until you finally win.  Usually the Martingale system is used while playing roulette.  Your bet is doubled every time.  In theory, when you eventually win (assuming winning is indeed an eventuality), your winnings will exceed your losses.

The Martingale system is sometimes used outside of the world of roulette, and is a popular money management strategy for sports bettors as well.  Let’s look at an example of how this might work:

• On your first bet, you put down £100, and your odds are 2/1.  If you win, you will receive £200.  You lose.
• On your second bet, you put down £200, doubling your stake.  You lose again.
• On your third bet, you put down £400.  You win £800.  That adds up to more than the £700 you invested.  £100 is not a huge profit on its own, but it’s still a profit. 

There are variations on this betting strategy; you do not necessarily have to double your stake every time, and the odds can of course vary as well. 

Why is the Martingale strategy so popular?  The main reason is probably its elegant simplicity.  It is easy to comprehend and put into practice.  Even a total beginner can look at it and understand how it works, and how it could over time (in theory) improve your odds of winning.  After all, eventually you have to win, right?  And when you do, you will make up for all your losses.  This makes the Martingale strategy essentially a “waiting it out” technique.  So long as you can survive all those losses, you should go on to win. 

But is the Martingale system really that foolproof?  I will take a deeper look at this strategy in my next article.  Stay tuned to learn more about Martingale.