The Martingale Betting System is a simple gambling strategy that was made popular by the French somewhere in the 1700’s. It was designed to help recover a gambler’s loss over a few failed bets and earn him back the original bet. The simplest example in defining The Martingale Betting System uses the coin flip. Let’s say a gambler bets $5 that during a coin flip that the coin will land on tails, and then that coin lands on heads. The gambler loses $5, but then bets $10 that the coin will land on tails, and then the coin lands on tails. The gambler not only recovered his loss of $5, but earned his original bet of $5, netting him a small profit. Using the knowledge of probability, the gambler knows that there are only two possible outcomes of the toss (heads or tails) and that eventually if he kept playing the coin would produce his desired outcome (which in this case was tails). All he had to do was keep doubling his losing bet until he won, thus recovering losses and earning a small profit in the end.
What are the flaws of The Martingale Betting System?
As with most things in life, it is important to know the weakness of the tools you use, so that you are aware of whatever risks are associated with your choice. The common problem with this betting system is typically funds. Let’s go back to the original example-the gambler placed his $5 bet on tails and lost the first coin toss. He was lucky that the second toss produced his desired results, but there was still the probability (1 out of 2) that the coin would have landed on heads, thus losing him a total of $15. If he only has $20 to begin with, then the next bet can only be $5, and the hopes that the gambler wins the third toss. Though a one out of two probability is not too risky, the coin toss itself is an independent event-no matter how many times the coin is flipped, the chances of the outcome remain the same during each toss. Which means that our gambler can just as easily flip his coin a third time and have it land on heads again, thus using up his money. Unless he has unlimited funds, doubling the bets after losses (especially multiple losses) can quickly deplete a player’s bank.
Another flaw in this system is that the ultimate payoff can be unworthy of the effort. Let’s say our gambler losses his second toss at $10, and now goes in at $20 for the third. He wins-but he is all ready out $15. So he gets his $20 bet back, his loss of $15 back, and then the profit of the original bet, which is only $5. Overall it is a win, but not a very lucrative one.
Can The Martingale System be used effectively in Craps?
Using this system could very well work in a player’s favor, as long as the player follows some simple guidelines while applying The Martingale System to his craps game:
Don’t use this system when making large bets.
Most players do not have an unlimited bank when they gamble, so this system if it fails is a sure fire way to lose your money quickly. If your starting bet is $50, and your bank is sitting at $250, then doubling up on your loss is very risky. Instead, only use this strategy when the bets are low-$1, $5and $10 are much safer numbers, and the initial loss will not be as devastating to your bank.
Only apply the system for a couple of turns.
Again, this is to cut back on the player’s losses. If a player loses on a $1 bet, than double it. If the player loses again, there is not much harm in doubling a third time. If that initial bet as $5 or $10, it will be a harder loss for the player if they end up pulling a loss that third go around. The player will be frustrated at the amount of money all ready gone, and at the speed of it’s depletion. It also is not a fun way to spend the game-if you see that you aren’t winning, accept the los and change strategies. Lower your bet or keeping it the same and breaking even is a much more enjoyable outcome than continuously losing more and more money.
It is most effective when betting on the Pass/Don’t Pass Line.
The Pass Line is when the house has the lowest advantage in the game, therefore increasing your odds of success, even if marginally. If you are going to implement this betting system, doing it now or when placing bets on the Come/Don’t Come will increase the chances of it working.
Pair The Martingale Betting System up with another Strategy.
Playing craps based on a “recover you loss” system isn’t that thrilling, or smart. Using statistics and mathematical principles during your game will increase your desired outcome of coming out on top. For example, if a gambler is playing craps and he is betting on the Pass Line with sixes and eights, quick math can tell him that he has a 50/50 chance of rolling a six, seven or eight (just like our coin toss). These are pretty good odds to bet on, but let’s say he rolls an even number and loses $10. Our player can conclude that the odds are still at 50/50, and that eventually rolling a six, seven or eight will most likely happen, therefore he decides it is safe to double his bet to $20 this once and roll again. He based his decision on mathematical reasoning, and did not get caught up in the heat of the moment. This not only makes the craps game more lucrative, but more enjoyable for the player.
It is important to note that no strategy is foolproof and 100% successful. Craps is after all a game of chance, and while there are definitive ways of calculating probability of possible outcomes, it is never a guarantee. Therefore, always remember to come into the game with a clear head and not to get too upset over losses that occur at the table. The point of the game is too have fun-making a little money is just a bonus!
Additional Craps Martingale Betting System Questions:
The answer to the question Craps: How To Use The Martingale Betting System is also applicable for the following questions: