Betting systems are something that needs to work nicely, getting all the players to their wished award. But, that’s one of the reasons why are they so dangerous too, because some people decide to blindly follow them, which results in unplanned actions that lead to unwanted outcomes. Martingale is one of the most popular betting strategies that was developed in France, and today, there is a mathematical concept based on it – even though it’s the most popular due to gambling.
The concept is simple to understand – every time the gambler loses, they double the bet, so they can recover the previous loss. And theoretically, it sounds pretty logical, because every game has two particular outcomes, winning or losing. If you are an experienced gambler, you know that things don’t always come up as we planned and that we can lose a few hands in a row, until we win one. That means, the steak may grow every time you decide to play another hand, and you will have a great amount to win, but there is another problem too. If you start with $10, it means the next bet will be $20, and if you lose the next one will be $40, then $80, then $160, and so on, which means if you lose 10 times in a row, you may not be able to afford the amount you need to double the next time. That also means you will lose everything you have now.
Doubling the bets may work for lower amounts of money, but since you are multiplying them x2, the potential reward will grow faster than you suppose. But, the speed of the reward growth can lead to faster money loss. That’s one of the biggest and most obvious dangers of using the Martingale betting system. We highly recommend you to be very careful when using some popular betting strategies, because they aren’t that easy to use, and can make you lose control over the bankroll, giving you a wrong impression that you will win the next hand.
Nowadays, people are more focused on online casinos, but the known betting systems can easily be applied there too. So, no matter if you visit a land-based casino, or you use websites like www.casinogorilla.com to play, you should be aware of these dangers of the Martingale system:
1. It can easily lead you to a huge money loss
As we described above, the growth of the potential reward is rapid, since you double every bet you’ve lost. It seems like a great idea to do that because at one point you will win something, but it can easily happen to lose more money than you can afford. And we all know how many problems it may cause. The fact that you are using a known strategy can easily make you believe that you have control over the things you are doing, but just the opposite – these strategies often work in the house’s favor, not yours. Just imagine, starting with a bigger investment, like $30, and doubling it until you decide it’s enough. The house may end up with $150 more, and you will use $150 for nothing because the next bet would be $300, and that’s a significant amount of money, not worth losing on gambling.
2. It’s a paradox
We will give the example of winning and losing money by using the Martingale betting system. If your initial bet was $1, and you’ve lost, then you need to double it, so the next one will be $2, then $4, then $8, and so on. At some point, if you win, you may bring back the money you invested, and after the winning round, you start once again with your first bet. If you try to calculate the things by yourself, you will see that the chances are you will anyway spend more money than you can win, because you will stop at the point when you won’t be able to afford the next bet.
3. It boosts the enthusiasm and people are making wrong decisions
This is one of the biggest risks of the whole gambling industry. The players get an impression they will win the next hand, but that doesn’t happen, so they are increasing their bets, hoping they will have more luck this time. But, we all know that rewarding outcome is less likely to happen compared to losing events, so it’s very obvious that enthusiasm and excitement aren’t that good as they seem because they can easily mess with the people’s reasoning, making them believe that they can easily win against the house or the website.
4. There is no balance between the risks and rewards
There is no balance between the wagers and potential profits, and that’s a good reason not to use the Martingale strategy for bigger bets. If you lose 10 hands in a row, that’s a lot of money. According to the betting experts, Martingale is applicable to casino games with lower stakes and more chances for the player to win, like blackjack or roulette. But, if you play progressive jackpot games, we suggest you come up with another strategy you will use to win.
The final thoughts
The hype around casinos is real. But, it easily can mess with your mind and reasoning, and that’s why a lot of people end up losing a lot of money playing poker, slots, or any other popular game.
When it comes to the Martingale system, you can see that is highly progressive, and it’s not good, because you take the money out of your pocket or wallet, and if you aren’t very lucky today, you can easily lose a few bucks. And we all know it’s not that easy to earn that money.
We know that the theory of the Martingale system is all about winning at some point, but don’t forget that the prolonger losing streaks will easily empty your wallet and you will meet the limits too soon. And that danger is more than obvious.