I'm just wondering if anyone has achieved any positive results by doubling their bets every time they lose until they win? I think it's called the martingale system. This is what I mean:

Lets say the odds are always $2 to make it easy.

-You put $20 on team A and they lose.
-Next time you put $40 on team X and they lose.
-Next time you put $80 on team Z and they win = $20 profit.
-The next bet resets to $20 after a win.

Obviously you wouldn't just double it every time. Eg: If you get on at $1.85 you would have to adjust your bet to get your $20 profit.

I tried this system with 50/50 bets (Over/Under Basketball scores) and it didnt work due to the first 5 bets losing (aren't I lucky!) but I believe it would work if I combined it with a sport I actually know a thing or two about (Rugby League).

So yeah, has anyone tried this system? Has it worked for you? Any tips?

Cheers,
Brett

I am no e x pert in this field, but it is my understanding that the use of the martingale system is the quickest way to the poor house.

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I like Bing Lee.

Yes most people who have tried it have lost. For it to work you need to have a really high strike rate.

And some one that will take the bets after about 15 outs in a row.

Tried it once on Heads and Tails on Keno, after 8 straight losses, i stopped, never, ever again.

Same here, first bet was $1 last bet was $256 on a $2.70 winner that was it for me.

agree