diggo
22nd September 2009, 10:12 PM
A friend of mine introduced me to the game of Roulette (electronic version) for the first time the other night. Just playing for fun backing the odds and evens, I entered $65 into the machine in order to give myself at least 6 one dollar spins, using the old martingale system (That being: $1,2,4,8,16,32 to cover the previous losses and make $1 profit).
After plugging away for about an hour and a half, my balance had reached $150, at which point I cashed in my earnings and called it a night.
Now I realise that unless you have infinite capital, the martingale system is a complete failure in the long term. However, I got this idea of doubling up the system in two ways to increase my chances. This is what I mean:
- You start with $256, betting $1 units (at 1:1 odds) to cover yourself for up to 8 consecutive losses.
- If you suffer more than 8 consecutive losses before recovering your $256, you have to start again; but this time, with $512 betting $2 units on the same thing. In this case, you will recover the losses from the first round in half the time at most (with a maximum risk of only ~25%)
- This gives you the freedom to go back to go back to the original $256 and start profiting.
- *Note that if you lose your $512 before breaking even, you will have to double it to $1024 betting $4 units, then $2048 @ $8 and so on... (But the chances of reaching such heights are very very slim --> eg: much smaller than if you were starting with $2048 to cover 11 consecutive losses)
Therefore, you are covering the martingale system, with the martingale system!
Maybe this has been thought of before, or maybe I am delusional... but please let me know what your thoughts are on this system!
After plugging away for about an hour and a half, my balance had reached $150, at which point I cashed in my earnings and called it a night.
Now I realise that unless you have infinite capital, the martingale system is a complete failure in the long term. However, I got this idea of doubling up the system in two ways to increase my chances. This is what I mean:
- You start with $256, betting $1 units (at 1:1 odds) to cover yourself for up to 8 consecutive losses.
- If you suffer more than 8 consecutive losses before recovering your $256, you have to start again; but this time, with $512 betting $2 units on the same thing. In this case, you will recover the losses from the first round in half the time at most (with a maximum risk of only ~25%)
- This gives you the freedom to go back to go back to the original $256 and start profiting.
- *Note that if you lose your $512 before breaking even, you will have to double it to $1024 betting $4 units, then $2048 @ $8 and so on... (But the chances of reaching such heights are very very slim --> eg: much smaller than if you were starting with $2048 to cover 11 consecutive losses)
Therefore, you are covering the martingale system, with the martingale system!
Maybe this has been thought of before, or maybe I am delusional... but please let me know what your thoughts are on this system!