The Martingale betting system increases your chances of winning in the short term. The catch is that when you do lose, you lose big. For example, starting with $1000 and a starting bet of $5, you've got about an 80% chance of turning a profit after one hour at craps or roulette, with an average win of about $100. The martingale strategy has been applied to roulette as well, as the probability of hitting either red or black is close to 50%. Since a gambler with infinite wealth will, almost surely, eventually flip heads, the martingale betting strategy was seen as a sure thing by those who advocated it.
The Martingale is the most-famous betting system of all time. It calls on you to double your wagers following every loss.
The Martingale is both simple and effective, but it’s also extremely risky. This strategy creates the potential for losing all your money more so than with any other betting system.
Nevertheless, some gamblers still use this system while chasing riches. Certain players, including the ones covered below, have made millions using the Martingale.
Charles Wells
Who Is Charles Wells?
Charles Wells is one of the most-famous gamblers of all time. Interestingly enough, though, he wasn’t a gambler by trade.
Wells was an nineteenth century conman who tricked people into investing in his fake inventions. The key word is fake, because he never intended to create any of the products he proposed.
The Brit’s best skill was convincing investors to give him money—not inventing things. He even managed to trick people into giving him a collective £4,000 for a musical jump rope.
Wells never had any intention of using the £4,000 (approx. £130,000 today) to work the fabled jump rope. Instead, he used the money to go on a gambling excursion in Monte Carlo.
How Did Wells Get Rich Through the Martingale?
Wells began playing roulette when he arrived in Monte Carlo. He started experiencing success almost immediately.
The conman suddenly looked like a professional gambler as the chips mounted in front of him. He managed to break the bank over a dozen times during the trip.
Wells walked away from his first trip with over 1 million francs (approx. £4 million, or $5.2 million).
He returned to Britain for a short while only to decide that he wanted another go at Monte Carlo. Wells once again experienced incredible success and won even more francs.
Upon returning to England this time, Wells had suddenly become a nationwide celebrity. Many people wanted to know the reason behind his success.
The conman lied his way through interviews by saying that he devised a secret strategy. The spoiler is that he was merely using the Martingale.
Wells made the fateful mistake of taking a third trip to Monte Carlo. Beforehand, he decided to defraud more people and purchase a yacht with his earnings.
Karma would catch up to Wells as he lost all his money to the casino. He returned to Britain and was immediately arrested for fraud. His final years were spent rotting in prison without a pound/franc to his name.
David Choe
Who Is David Choe?
David Choe is an American artist who has painted famous murals and designed album cover art for Linkin Park, Jay-Z, and more. His painting of Barack Obama is featured in the White House.
Despite his talent, one of Choe’s most-memorable works has nothing to do with his skill. Instead, he did a mural for Facebook’s office that ended up netting him $200 million.
Choe thought that Facebook would never succeed in the long run. Nevertheless, he liked Mark Zuckerberg and the other FB figureheads.
So, he painted them a mural in exchange for Facebook stock. His shares ended up being worth $200 million when the company’s IPO launched.
How Did Choe Win with the Martingale?
With a famous art career and numerous Facebook shares, Choe obviously didn’t need gambling to get rich. Nevertheless, he found success on the casino floor too.
Casino blackjack became his game of choice. Choe employed the Martingale and set a stop-win limit for each session.
A stop-win limit refers to when a gambler quits playing after meeting a desired win target. Choe even brought a friend along to make sure that he quit sessions after reaching his goal.
This gambling story is impressive enough. However, some of the side stories that Choe told on Stern and the Joe Rogan Experience podcast are even more interesting.
The Las Vegas Review-Journal chronicled some of his Las Vegas adventures in 2014. They recounted how Vegas rolled out the red carpet to keep Choe gambling.
“The height of my Vegas experience was staying at the penthouse in every single casino — like all the high-roller casinos — a harem of whores in each one,” he told LVRJ.
“I would be going to Vegas all the time with 100 grand. A million dollars in, like, a pillowcase in my backpack.”
One casino even sent a private jet to Choe’s Burbank, CA home. He and a friend rode on the “giant, empty plane” to Las Vegas.
Other gambling establishments let him ride in “secret elevators,” offered him illegal drugs, and threw more women at him. He didn’t want the drugs, but he definitely appreciated the women.
Choe’s lavish lifestyle and Martingale winnings came to a halt when he suffered an angina attack (form of heart disease) at age 35.
He hadn’t slept for five days and began losing his sense of balance. Finally, Choe collapsed on his penthouse floor with $20,000 chips spilling out of his pockets.
After waking up from the angina attack 36 hours later, he wanted to start playing blackjack again. However, his friends talked him into returning home to Burbank and leaving the wild Vegas lifestyle behind.
John Henry Martindale
Who Is J.H. Martindale?
If you think that the name John Henry Martindale sounds familiar, you’re right. He invented the Martingale system, or at least holds credit for the idea.
J.H. Martindale was a casino owner in London during the eighteenth century. He was a hands-on owner who frequently mingled with his customers.
During these conversations, he’d give advice to gamblers. One of his biggest pieces of advice was to double bets following losses.
How Did Martindale Win Through the Martingale?
J.H. Martindale didn’t win by gambling with the Martingale. Instead, he made money for his casino by talking players into doubling wagers after losing.
This is a risky betting strategy compared to others when considering that many players book small, consistent wins with this system. In the end, though, Martindale felt that the house would always come out on top.
He was right in most respects. The Martingale can reap plenty of small winning sessions. However, a gambler’s luck will eventually run out if they keep employing this strategy.
Should You Use the Martingale to Win Big Too?
The Martingale has remained popular for almost two centuries. The main reason why is because it works…at least in theory.
Here’s an example to show the power of the Martingale:
- You bet $10 and lose (bankroll at -10).
- You bet $20 and lose (bankroll at -30).
- You bet $40 and lose (bankroll at -70).
- You bet $80 and lose (bankroll at -150).
- You bet $160 and lose (bankroll at -310).
- You bet $320 and win (bankroll at +10).
You’ve lost five bets in a row in this example. But despite winning just one out of six wagers, you’ve managed to book a $10 profit.
The Martingale is seemingly a foolproof system. It could work under the perfect conditions. The problem, though, is that such conditions don’t exist.
First off, you’d need to find a casino without table limits. Otherwise, you’ll eventually reach the table limit during a losing streak and not be able to double your wagers any longer.
Secondly, you’d need an infinite bankroll to ensure that you never risk losing all of your money. Maybe Jeff Bezos can pull this off, but not you.
Of course, the odds of you going on an insane losing streak are low. The longer you play, though, the more likely you are to run into such a horrific occurrence.
If this happens, then you have no recourse since your bankroll will be gone. Long story short, use the Martingale at your own risk.
Conclusion
Most gamblers don’t use the Martingale (at least consistently) due to the reasons outlined above. But you can see from the stories of Wells and Choe that it’s possible to win big with this strategy.
Each player earned seven figures using the Martingale. Wells actually pulled this feat off twice during trips to Monte Carlo.
However, you should temper your expectations with this system. The Martingale can deliver frequent winning sessions, but it also takes a while to build your winnings. The story of Choe playing for a year before hitting $1 million illustrates this idea.
The game of roulette is immensely popular at both land-based and online casinos like playuk.com, but it is by no means new. In fact, it has been around for hundreds of years and ever since it was invented, people have tried to beat the house edge. Finding a way to win consistently when playing roulette is obviously a huge challenge, but some strategies can simplify your mission. While they shouldn’t be regarded as a recipe for success, these are the online roulette systems that work.
Progressive Roulette Strategies
Progressive roulette systems are quite popular both online and brick-and-mortar casinos. They are easy to learn and master and require players to increase the size of their bets after each round. Solid bankroll management is needed to keep the progression sustainable on long term. What this roulette system is supposed to achieve is to recuperate the losses suffered over a rough patch and make a small profit.
- The Martingale Strategy
The Martingale is one of the online roulette systems that work at any type of roulette – but can also be used on other games. This is one of the progressive techniques that demand players to double the size of the wager after each unsuccessful round. It’s important to start with a rather low betting unit, so you can double the stakes long enough, without crippling your bankroll. There is some math behind this roulette system, but overall it is not complicated and anyone can do it, especially beginners.
Players are supposed to start with no more than 1% of their bankroll and bet on red and black or evens and odds. If they win, they take the profits and start from scratch, otherwise, they double the stakes until they win. The upside is that you are guaranteed to win eventually, as long as you can maintain the progression. On the flipside, there’s a serious risk of losing the bankroll or hitting the betting limits.
Martingale System Roulette Success Stories For Beginners
- Reverse Martingale Strategy
The Reverse Martingale online roulette system is just as popular and just as the name suggests, it is the exact opposite of the Martingale. The technique, however, is the same and players double the amount wagered after a winning round. That’s because the goal is to maximize profits rather than recuperate losses, so the focus is on boosting winning streaks. It is entirely up to the players to decide when they want to stop the progression, with most punters usually quitting after four or five wins.
- D’Alembert strategy
Martingale System Roulette Success Stories Youtube
The D’Alembert online roulette system is named after the mathematician that invented it a long time ago. It is in many regards similar to the Martingale, but instead of doubling the stakes, players increase them by one unit. This greatly reduces the risks of going bankrupt or hitting the betting limits accepted by the online casino. On the other hand, it doesn’t provide any guarantees of offsetting previous losses at the end of a long streak. Once again, the focus is on even money bets, such as colors and even or odd numbers, so it’s easy to keep track of your progression. This system works the best at European roulette.
- Labouchère system
The Labouchere online roulette system is yet another strategy with a fancy name inspired by its creator. It is one of the more complex systems, as it is based on a string of numbers that act as a betting sequence. This goes by the name of Labouchere chart and it grants players some degree of flexibility in choosing the progression, based on their bankrolls and expectations. A sequence can look very much like this 1-1-2-1-2-2-1 and players cross off the numbers at the end of the sequence when they win. Since this is a more complex strategy, it works better for veteran punters who don’t mind using math when gambling.
- The Fibonacci System
We continue the list of online roulette systems that work with the Fibonacci strategy. It was named after the famous sequence of numbers discovered 2000 years ago and thoroughly analyzed by the Italian mathematician. It is another progressive system, which uses the Fibonacci numbers to increase the size of the bets after successful rounds. When players lose, they increase the amount of the bet with a sum equal to the last two wagers. Once again, it requires players to set clear limits, as they are supposed to decide when it is time to return to the original stakes and take their profits.
Non-progressive systems
Martingale System Roulette Success Stories Free
Non-progressive online roulette strategies are also popular, because of their simplicity, yet they are not as effective. Players are under less pressure of losing their bankroll or suffering sizable losses, because the size of the bets doesn’t change. These systems are commonly referred to as flat betting and they are better suited for recreational players who want to keep gaming sessions fun and easy.
Martingale System Roulette Success Stories For Beginners
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Martingale System Roulette Success Stories Online
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