The Martingale fallacy

    chart martingale

    Considered by many a good and successful betting strategy, the Martingale has put a lot of people into a rather uncomfortable position. The forebet team believes that the Martingale strategy is misunderstood and it is not advisable to use it.

    If you follow this strategy you will have to double your bet after every loss so that the first win would recover all previous losses plus win a profit equal to the original stake. After the first winning bet you continue with bets equal to the last one. We have to point out that this strategy is mathematically correct if the bookmaker`s odd on which you are planning to place your bet must be at least 2.00.

    We believe that this strategy is not relevant, because it is related to large amount of betting “bank” and you might find yourself in an unpleasant situation. After all you have to enjoy the game. For instance if you start your series of bets with 2 units, after only 6 loosing bets in a row you will have to bet 128 units. Imagine you place a bet of 128 for a win of only 2 units.

    One of the greatest gambler`s fallacy is the belief that an even which has not occurred recently is likely to happen in the present. A lot of gamblers follow this totally wrong decision and bet on the opposite of recent outcomes, which is the main idea of the Martingale. Unfortunately, it is not so difficult a long series of bets to result in losses. In such case, if you have followed the Martingale strategy, you will have to bet a large amount of your betting “bank” in order to TRY to cover your losses and have a profit of only 1 unit (the unit you have started betting with). Our team advises you not to do this and be reasonable and most importantly enjoy the game.