[Misc] Has anyone tried the Martingale betting method

[KZNSeagull]

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

Yup. 8.7k so far. Can highly recommend it.

 

[darkwolf666]

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.

I have been reading up on the Kelly Criterion and think this may be my next trial. Thanks for the link...

 

[Bob'n'weave]

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.

Not sure about this. As far as I know all Roulette tables have a minimum and maximum for all bets. No limit doubling would allow anyone with enough in the bank to break the casino.

 

[wakeytom]

Yup. 8.7k so far. Can highly recommend it.

What level of initial stake do you need to make it work?

 

[dejavuatbtn]

I have never lost a bet yet. I don’t do it. On the basis that the bookie will always win in the end, any gambler must lose in the end. The number of adverts for betting on TV and around football in particular really pisses me off.

 

[KZNSeagull]

What level of initial stake do you need to make it work?

Not much. I started with about £200, most of that went to the betting exchange to lay off the bets. You can start with less to work your way through the simpler bookie sign up offers etc. The main issue with starting small, as I found, was moving money around between bookies and the exchange.

 

[GT49er]

Hmmm......I'll stick with my tried and tested mantra: if it looks too good to be true, it probably is. £2.50 on a Euromillions ticket is my lot!

 

[Bozza]

What level of initial stake do you need to make it work?

You can start small, but if you can put say, £1000 to work, you can plough new customer offers, quickly accrue profits and then take some/all of that £1000 back.

With a smaller initial bank you can still make good progress, but you'll find you will have to wait from time to time as you move funds between bookie(s) and the betting exchange as you get money in the right place for your next opportunity.

 

[Kazenga <3]

I have never lost a bet yet. I don’t do it. On the basis that the bookie will always win in the end, any gambler must lose in the end. The number of adverts for betting on TV and around football in particular really pisses me off.

Not true. But they will make their money on the basis there will be far more losers than winners.

 

[Questions]

Not sure about this. As far as I know all Roulette tables have a minimum and maximum for all bets. No limit doubling would allow anyone with enough in the bank to break the casino.

That’s sort of what I meant really. I think.

Roulette is probably the slowest percentage winner for casinos but the highest profit maker. Work that out.

 

[Mackenzie]

Standing or running?

 

[Questions]

Ask most people if there were 4 horses of roughly even ability - and jockeys - in a races what should be the fair odds if it was all for a bit of fun. You’ll get 4/1 as your answer more often than not.

 

[dejavuatbtn]

Not true. But they will make their money on the basis there will be far more losers than winners.

The laws of probability would dictate that if a gambler keeps gambling indefinitely then they will lose in the end. I agree that if someone gets into profit and stops then they will make a gain - but how many gamblers have the discipline to stop?

 

[Norman Potting]

Stick to Premium Bonds

 

[Kazenga <3]

The laws of probability would dictate that if a gambler keeps gambling indefinitely then they will lose in the end. I agree that if someone gets into profit and stops then they will make a gain - but how many gamblers have the discipline to stop?

Pure gambling on roulette tables etc for an indefinite period yep I agree. It's possible to win long-term on sports, but if you're any good you'll get restricted in time anyway.

 

[Bozza]

That’s sort of what I meant really. I think.

Roulette is probably the slowest percentage winner for casinos but the highest profit maker. Work that out.

Blackjack, if you follow basic strategy, will return over 99.5% to the player. Roulette in its various forms gets nowhere near this.

 

[Blue Valkyrie]

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?

A better plan.

- Work out your maximum loss before you have to give up.

- Send me half of that instead of betting on this scheme.

- Win-Win an equal amount for both of us. Cheers.

 

[wakeytom]

You can start small, but if you can put say, £1000 to work, you can plough new customer offers, quickly accrue profits and then take some/all of that £1000 back.

With a smaller initial bank you can still make good progress, but you'll find you will have to wait from time to time as you move funds between bookie(s) and the betting exchange as you get money in the right place for your next opportunity.

At that level do the bookies not cut you off much quicker?

 

[Billy Seagull]

The laws of probability would dictate that if a gambler keeps gambling indefinitely then they will lose in the end. I agree that if someone gets into profit and stops then they will make a gain - but how many gamblers have the discipline to stop?

I’ve made 16.2% profit over the last four years, now is not the time to stop The main problem is getting a bookie to take my cash. I gave up decent salary to have better lifestyle and tomorrow I shall be playing golf instead of sitting in an office and will be able to continue working too, thanks to the wonders of modern technology. It’s not for everyone though but I can assure you that bookies do not always win.

 

[Tim Over Whelmed]

I’ve made 16.2% profit over the last four years, now is not the time to stop The main problem is getting a bookie to take my cash. I gave up decent salary to have better lifestyle and tomorrow I shall be playing golf instead of sitting in an office and will be able to continue working too, thanks to the wonders of modern technology. It’s not for everyone though but I can assure you that bookies do not always win.

Absolutely agree, but this makes the odds stacked even further against the poor novice punter as the ability to suck cash from them goes to support the profits of smart / experienced punters, such as your good self, as well as the profits of the corporations. I always think it's sad when I pass a bookies and see the same old faces clutching a piece of paper with that look of hope so often replaced by despair or anger.