does the martingale betting system work on all gambling or only casinos ?
According to martingale, you increase your bet every time you lose, and eventually, you win. I have been on a losing streak on the lottery but I won $200-$500 a few times before. Should I increase my ticket buying according to martingale.
- 1 month ago
The martingale does not work. The reason it does not work is because your progression cannot be infinite. Even if you had endless money, you would run into the maximum bet allowed sooner or later. Please do NOT use the martingale.
- jeffdanielkLv 42 months ago
That doesn't work at all. What happens when you have a streak of bad luck and lose all your money? Then you can't make another bet.
- FingersLv 72 months ago
Martingale is a moron. What happens if you dont win by the time you run out of money. This guy is teaching you how to give the casino your money in the most efficient way possible. Thats not how odds work.
- What do you think of the answers? You can sign in to give your opinion on the answer.
- SlickterpLv 72 months ago
It does not work anywhere. It would be even worse on lottery than in a casino, where it definitely does not work.
- DCM5150Lv 72 months ago
The martingale doesn't work at casinos because all casino games have maximum bets. Which usually would get you beyond about 7 losing round before you lose the advantage of the martingale technique (assuming doubling bet each time).
But lets say you are a really nice guy and the remove the limits and you start with a $5 bet. (let's say roulette you are betting red). After 10 losses you are now betting $5120 to win $5. (and you would need over $10K to to get to this point). Sure, 10 in a row is rare but not as rare as you might think (odds are roughly 1 in 1400).
The longest streak in roulette in the US for one color was 32. If you hit that point, and make the 33rd bet you would need over $40 billion...are you willing to bet $40 billion to win $5?
- ?Lv 72 months ago
1. Martingale doesn't work in any form of betting. In some games it may slightly increase your odds of a positive net outcome over a short period - at the cost of increasing the odds of a larger loss over the long run.
Sooner or later you will hit a string of consecutive losses where you are unable to "cover" the loss by increasing your bet - either because of a limit imposed by the casino or local law, lack of bankroll, or just lack of personal willingness to double down on a bet of that magnitude. This will happen far sooner and far more often than most people realize.
2. Martingale system is based on the idea that you increase the size of your bet and receiving a corresponding increase in the size of the prize you receive if you win that bet. The hope is that the increased prize covers the previous losses. In the lotto you cannot increase the size of your bet in order to receive larger payouts on winning tickets. You can only buy more tickets which (slightly) increases the odds that you'll get at least one winning ticket but does not increase the payout you'll get from a winning ticket. Therefore the whole concept of the martingale system does not work.
3. The martingale system also uses the assumption that the odds are close to 50/50 and the payouts are 1 to 1, meaning when you win a bet you receive a payout equal to the amount that you bet. This way you can always cover your previous loss if you simply double your bet amount. This gets far more complicated and doesn't really work correctly in games where you have larger payouts and lower odds. So even if point #1 and #2 were not true, the system still would not be a good fit for the lotto since you have very low odds of winning but very large potential payouts.
The bottom line is that the lotto balls, or roulette ball, or other inanimate betting objects don't know what bet you placed on what outcome. Therefore the manner in which you structure your bets cannot possibly alter the long term odds. If the game has a built in house edge, you cannot beat that house edge and come out ahead over a long period of time by simply betting more or less at certain times. In the long run, you'll lose an amount which directly corresponds to the amount you've bet and the size of the house edge.
Therefore more you bet, the more you will lose.
- zman492Lv 72 months ago
The first thing you need to understand is that, in the long run, the Martingale system always fails, including in casinos.
The second thing you need to understand is that the Martingale system requires that the size of a bet be increased, not the number of bets, which is impossible in a game where the size of a bet is fixed, such as the lottery.
According to Martingale, and according to common sense, you should not increase you ticket buying.