[Misc] Has anyone tried the Martingale betting method

[darkwolf666]

I know there are a few gamblers on here and a few matched bettors, so I wondered if any of you had used the Martingale principle of betting, I.e. doubling your stake after a losing bet.

I have a fairly healthy betting bank so have been carrying out a trial, to attempt to make £30 a day to give a return of £900+ per month.

I have used £30 as my benchmark figure and so far I have not had to go above £480 to get a win, and usually go no further than £120 (two sequential losses). I always back at odds of 2.0 or as close as possible.

After 21 days, after taking of my stake money, my new bank stands at £987, £357 above my target.

Any thought from fellow bettors/gamblers?

 

[gripper stebson]

Yep. Played with it with tiny stakes on online roulette. In the end got flushed out by 7 reds in a row. It don't work otherwise everyone would do it surely.

 

[Billy Seagull]

Don’t bloody touch it, is my best advice.

 

[Mtoto]

It works until it doesn't.

Sent from my SM-G950F using Tapatalk

 

[Tim Over Whelmed]

You never see a poor bookie .....

 

[Bry Nylon]

I wondered if any of you had used the Martingale principle of betting, I.e. doubling your stake after a losing bet.

I'm struggling to see what could possibly go wrong?

 

[gripper stebson]

Also you get to a point where you are betting £256 to win a pound. Which is a bit silly!

 

[Billy Seagull]

Staking plans are something I’ve spent hundreds of hours analysing and for me the Kelly criterion staking plan suits what I do but I do it a lot less aggressively than full Kelly. This article has a calculator on it to help and an explanation.

https://www.pinnacle.com/en/betting...-kelly-criterion-for-betting/2BT2LK6K2QWQ7QJ8

Staking is very individual depending on the type of bet and the odds butn this works for me along with a having a higher steak when I know that I have a statistically higher chance of winning. It helps with bankroll management too and with the mental side of being a full time gambler.

 

[Uncle C]

Its very simple.

You pump in more money than you can afford and the Bookie takes it all.

 

[Kalimantan Gull]

I know there are a few gamblers on here and a few matched bettors, so I wondered if any of you had used the Martingale principle of betting, I.e. doubling your stake after a losing bet.

I have a fairly healthy betting bank so have been carrying out a trial, to attempt to make £30 a day to give a return of £900+ per month.

I have used £30 as my benchmark figure and so far I have not had to go above £480 to get a win, and usually go no further than £120 (two sequential losses). I always back at odds of 2.0 or as close as possible.

After 21 days, after taking of my stake money, my new bank stands at £987, £357 above my target.

Any thought from fellow bettors/gamblers?

Yes. I did online roulette following exactly that principle, took my free opening £30 to over £200, then lost a bit, found myself gambling £80 for a fiver, but it worked; then it didn't; crashed down to nothing, put another £100 of my own money in, lost all that - indeed in 10 minutes I went from £200 up to £100 down, which as a poor student was quite a shock and haven't gone near that kind of gambling again.

 

[wealdgull]

I always back at odds of 2.0 or as close as possible.

You are confusing bookies giving you even money on something with that something having a 50% chance of happening. Bookies base their business on providing odds that always give them a profit. If you went to a bookie and asked for odds on a coin toss being heads they would give you something like 10:9 rather than 1:1.

 

[knocky1]

Its very simple.

You pump in more money than you can afford and the Bookie takes it all.

Then you put in twice what you lost and the Bookies take it all.

 

[knocky1]

Its very simple.

You pump in more money than you can afford and the Bookie takes it all.

Then you put in twice what you lost and the Bookies take it all.

So you pump in more money......................

 

[Anchorman]

Quit while you're ahead! I don't know what your healthy balance is but you are essentially risking it all every day just to get £30.
It's no great surprise you are winning at the moment, you are well odds on to win every day.
Say your balance is £30k and you are chasing £30. You are 1-1000 to win every day, conversely 1000-1 to lose ( and this assumes no house percentage profit margin)
Betting around the 2.0 mark you have to lose 10 bets running to do the £30k. Imagine the day you do lose 9 on the spin and you're having to stake £15k just to get your 30 quid. And that's if you could get that kind of bet on. And that's if you don't lose your bottle and think better of it.
The law of averages says that losing day might come within 1,000 days. It might not happen, but it could be tomorrow!!

 

[Questions]

I know there are a few gamblers on here and a few matched bettors, so I wondered if any of you had used the Martingale principle of betting, I.e. doubling your stake after a losing bet.

I have a fairly healthy betting bank so have been carrying out a trial, to attempt to make £30 a day to give a return of £900+ per month.

I have used £30 as my benchmark figure and so far I have not had to go above £480 to get a win, and usually go no further than £120 (two sequential losses). I always back at odds of 2.0 or as close as possible.

After 21 days, after taking of my stake money, my new bank stands at £987, £357 above my target.

Any thought from fellow bettors/gamblers?

I’ve done it but use a - what I call, my consolidating bet - which means if your first bet of one unit loses then just play the same bet on the 2nd attempt which then brings you back to even if it wins. Then you go again from scratch. It can reduce your balancing bet big time if you hit the bad run. Ie 512 to 1024.

 

[father_and_son]

I know there are a few gamblers on here and a few matched bettors, so I wondered if any of you had used the Martingale principle of betting, I.e. doubling your stake after a losing bet.

I have a fairly healthy betting bank so have been carrying out a trial, to attempt to make £30 a day to give a return of £900+ per month.

I have used £30 as my benchmark figure and so far I have not had to go above £480 to get a win, and usually go no further than £120 (two sequential losses). I always back at odds of 2.0 or as close as possible.

After 21 days, after taking of my stake money, my new bank stands at £987, £357 above my target.

Any thought from fellow bettors/gamblers?

Used this playing blackjack. Generally a good strategy if you have balls and balance.

12 consecutive losses killed me once, but otherwise just a matter of nerves.

 

[Bozza]

Yep. On roulette in Vegas when I treated my Mum to a trip there for her 60th birthday.

"What harm can a little first night gamble do?" I thought. A short losing run later I'd done my whole intended gambling pot for the 6 day stay on the first night.

I've also done similar on sports betting where I racked up a multi-thousand pound loss betting on short-ish price selections. It was when I was weighing up a bet of c£8k to get back to evens that I knew I had to cut my losses and stay away from gambling.

If you want to make steady consistent profits without risking your money, look at Matched Betting. I and many others on here have made decent sums Matched Betting using Profit Squad. Sign-up for the trial here >>> http://profitsquad.co.uk/201.html

 

[Questions]

Some roulette wheels won’t let you play this system in the casinos.

It’s been proven though that the time and money invested in this system ( and you can’t lose if you are a multi millionaire ) is much better served on other ventures.

Wiki-
The record for the number of reds in a row was set in the US in 1943 when the colour came up 32 times in a row. The probability of this happening on a European Roulette table is (18/37) to the power of 32 which comes to 1 in 10,321,314,387

 

[Bob'n'weave]

The house always wins in the end, the longer you play, the more chance you have of losing than winning. I saw a lot of gamblers try doubling on Roulette, black or red evens bet - never seen big winners use this system. If you hit a run of losing bets, after seven or eight spins you are at the house limit and ****ed if you lose again, with no chance of winning back the losses. I know you're not playing Roulette but I would tread with caution. Once you start chasing loses with bigger stakes it's time to pull out.

 

[darkwolf666]

Thanks for all your input.

As I said at the top of this post this was a trial to see what could be achieved. I have been very selective with my bets, only backing football matches and using markets I think I know something about. I understand the risks and won’t be putting my main gambling bank at risk...