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Every sports bettor worth their bankroll has a betting strategy to gain an edge in the games they play. From casino games to online sportsbooks betting know no bounds. Sports gambling started as foot races way back then; combat sports, horse racing, and any other contest that pitted man or beast against one another were ripe for a bet. In today’s installment of betting strategies, we here at MyTopSportsbooks will take a look at the Martingale system or Martingale betting strategy to help you with all your strategic bets. The Martingale system is a widespread, frequently used strategy, and some bettors use it subconsciously when gambling. Like many gambling strategies, the Martingale system is considered a can’t-lose system that draws a lot of interest from sophisticated gamblers.
What is the Martingale System?
One of the reasons the Martingale betting strategy is so popular is that it seems like a surefire win. Using basic logic, the system would be successful almost 100% of the time in a vacuum. But sports betting sites and casinos don’t operate in a vacuum. Nor do the bank accounts of sports bettors. Things like wager limits, limited bankrolls, casino regulations and the gambler’s fallacy all have a significant impact that can deter long-term success from the Martingale system.
It’s such a simple betting system that nearly every gambler has probably come up with the idea on their own at some point. In theory, the execution is straightforward.
The Martingale betting system means doubling your losing bets until you win. That’s essentially it. So, if you bet $10 on your first bet and win, you set that $10 aside and bet another $10. If you lose that $10 first bet, you will wager $20 on the next bet. If that’s a loser, you’d bet $40 on the next bet, and so on, until you theoretically recoup all your losses while keeping the initial $10 profit.
Then you start over with another $10 original bet and repeat the process, keeping all $10 bet wins and only doubling after losses.
Sounds great, right? If you lose the first three bets, the thinking goes, it’s unlikely you’d lose a fourth straight. This is what’s known as the “gambler’s fallacy.” It fails to recognize each wager as an individual event separate from the one proceeding it. If you bet on black at the roulette wheel and lose three times in a row, nothing changes when you bet on black for the fourth time. The odds the ball will land on black – 47.4% in standard American roulette – are the same as the ball landing on red for the fourth time in a row.
This is just one of the reasons the Martingale system – while certainly a winning strategy in some cases for those with a seemingly infinite bankroll – is not always applicable in the real world for consistent profit.
How Does The Martingale Betting Strategy Work?
In reality, the Martingale system comes with a risk/reward feature, like other betting systems, and we will show you how it works in practice. Like most sports bettors, the NFL is a magnet for game bets, point spread, over/under, and prop bets. Let’s say you bet on the NFL, and your usual wager is $50. The odds will be even money, and we will demonstrate the progression as you climb the wager ladder on losses.
Example of the Martingale Betting Strategy
Let’s break down some numbers for the Martingale Strategy, including what the risk/reward looks like in practice. Let’s use NFL betting for this example, showing how one would apply the Martingale Strategy at a sportsbook.
Let’s say your standard bet is $50 on NFL games. Here’s how the betting pattern would go in order to apply the Martingale Strategy, and to make the math easier, we will assume an initial bet size of $50 and even money odds.
GAME 1
- Risk: $50
- Result: Loss
GAME 2
- Risk: $100
- Result: Loss
GAME 3
- Risk: $200
- Result: Loss
GAME 4
- Risk: $400
- Result: Loss
GAME 5
- Risk: $800
- Result: Loss
GAME 6
- Risk: $1,600
- Result: Win
Total Profit: $50
All the bets were +100, even money bets on the Moneyline, and no VIG applied. The strategy worked on the sixth bet, but the gambler had to wager $1600 to win just $50 through a series of bets. The chance of winning in the system can be the gambler’s fallacy because each bet is independent and a coin flip – see even money bets.
Advantages and Disadvantages of the Martingale Strategy
Advantages
- Easy system to employ
- The strategy works in perfect conditions
- The strategy is a winner if you have the bankroll for it, and no wager limits at the online casino you play at.
Disadvantages
- The conditions required for the system to be successful rarely exist.
- Losses betting in this system can run into the thousands for a limited return.
- Losing streaks – like winning streaks – are inevitable, and in the Martingale system, you need a bankroll to ride out an ugly slide.
Can you use the Martingale Strategy Legally?
Yes. You aren’t counting cards at the Blackjack table or trying to fix a slot machine. But some casinos have table limits or betting limits that can stifle the strategy once it reaches its upper limits.
Variations of the Martingale System
Mini Martingale
This strategy is a double-down limiter to preserve your bankroll. It forestalls losing everything, extends the life of play and returns reduced profits on winning bets.
Reverse Martingale
In this instance, you double your winning bets and prevent a bad bet or a large amount of money that translates to a significant loss. You lose all your profits in any loss, so you must know when to quit to preserve your bankroll.
Grand Martingale
In this scenario, you add a unit to every loss, increasing the profits when you do win. You risk significant losses and wager limits and can burn through your entire bankroll quickly on a long losing streak.
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