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Discussion Starter #1
What do you *****s know about the martingale system? Al Capone, I assume you know something about it. I want to increase my dependance on gambling as my second source of income. :D
 

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I don't agree with the system, but the theory behind it is that you should double your bet every time you lose I think. The thinking is that chance is chance and you should win a small percentage of the time. So even if you start out losing, if you double your bet each time, eventually you will win once and thus win big.

My problems is that first off, you have to be losing the first few times. The system is pretty much ineffective if you win a small bet in the beginning.

Secondly, think of how many possiblities there are in a betting system. Eventually, you will get to that one chance in which you win. But that's an eventually. Not now, maybe not soon, maybe not even far away. You don't know when's it coming. And so you are limited, limited by the size of your resources. In this system, its assumed you have unlimited cash.

I also used to object to this system claiming that even if you win, if you win really really late in your betting timeline, then you won't make a hardy profit, but I have since reconsidered that view, when I saw some analysis that proved it wrong.

In essence, this system is great if you like working in probabilities to win in an overall series of bets, but it assumes unlimited money supply and also because of the huge bets placed, you are really ending in a low net result in terms of dollars....

But don't take my word for it, all this isjust stuff I've heard from people and actually some in math class when i was in High School, I've never really seen it or done it
 

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Discussion Starter #3
Al Capone said:
I don't agree with the system, but the theory behind it is that you should double your bet every time you lose I think. The thinking is that chance is chance and you should win a small percentage of the time. So even if you start out losing, if you double your bet each time, eventually you will win once and thus win big.

My problems is that first off, you have to be losing the first few times. The system is pretty much ineffective if you win a small bet in the beginning.
Practically, this system has nothing to do with winning. If you win, you win. You can place any bet you want, increase your amount by any ratio, or whatever.

Only when you lose, then your future bets are limited to the "double up" system in order to maximise gain in the case of losing streaks. It all depends on the length of the streak and how much you can afford to double up.

Basically, the more times you can double up, the larger your chance of ending up with net profit.

Consider this: If you can double up 10 times, the odds of making a loss with the martingale's is the odds of getting 10 losses in a row. (someone calculate this for me, is it 100-1?)

If you can double up 20 times, your odds of making a loss become even less remote.

If I lose my first 19 bets and win the 20th, I've still made a profit, even after the house cut.

Al, work with me here. Is this something I can depend on?
 
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