Has anyone actually SEEN a Martingaler?

The closest I've come to seeing a true Martingaler is the following:

I'm at a $10 BJ table in Indiana. Guy walks up in mid-shoe with a bunch of black chips. Bets $200. Loses.

Next he bets $300. Gets a splittable hand and splits it. (Forget what it was, but basic strategy dictated a split.) Loses both hands.

Next he bets $400. Loses.

Next he bets $500. Loses.

Down $1700, he walks away.

I know it's not a true Martingale, but at least the system of chasing losses with larger bets was there.

I see it a Pai Gow all of the time. Sad to watch them walk away with nothing, as it's quite easy to run into 6, 7, 8 losses in a row.

Not past 3 or 4 losses, no. But I've done it myself at low-limits on a roulette table just to pass the time -- again, capped at 4 losses. I can swallow a $15 loss but not a $1023 loss...

Math, how could you? Next thing you'll be telling me is that you play slots too!

I saw it once. It's a sad story. You may want to stop reading now.

I went out to Vegas one year with a buddy for an audiophile show. It was his first trip to Vegas. He studied on the internet and learned about the Martingale. I told him he was crazy. He ran simulations and said you hardly ever lose. I told him he was crazy. He continued to run simulations; even on the plane he was using a hand held BJ game to further prove his winning approach. I told him he was crazy. At Ellis Island he found a video BJ game where you could bet .25 to 5.00 per credit and 1-100 credits giving him a spread of .25 to $500. I told him he was crazy. He was doing good for a while. Then it happened. .25 lost. .50 lost. 1.00 lost. 2.00 lost. 4.00 lost. 8.00 lost. 16.00 lost. 32.00 lost. 64.00 lost. 128.00 lost. 256.00 lost. Eleven losses in a row and no room left to double. Over $500 lost chasing a $.25 win. I stopped telling him he was crazy; the realization finally hit home. He too went home and never came back.

Quote: boymimbo

Math, how could you? Next thing you'll be telling me is that you play slots too!

Oh, but I do. It's my job. :)

I just haven't been brave enough to write off my slot losses as "business expenses" yet...

Saw it? No. Did it myself? Yep.

I describe it on my History page of my Poker For Roulette site:

Quote:

Not long after it opened, I was in Resorts Intertnational, the first casino in NJ. Back then the casino wasn't open 24 hours, and there was a dress code to get in. On the plus side, there were plenty of $2 blackjack tables. Armed with only a couple hundred bucks, a cursory understanding of the "pyramid betting system" (I now know it's called the Martingale system), and barely a beginner's understanding of blackjack, I tried my luck. It was a short evening.

Quote: kp

Eleven losses in a row and no room left to double. Over $500 lost chasing a $.25 win. I stopped telling him he was crazy; the realization finally hit home. He too went home and never came back.

That story pretty much says it all when it comes to system bettors. I bet such a scenario plays out in Vegas every day -- multiple times. Believers will absolutely never listen to reasoning. The only way for them to see the light is through their wallet. This is why I kept saying everyone was wasting their time trying to save 99steps.

Regarding how to find Martingale players, go to any multi-player blackjack game online. At Casino on Net I saw them all the time, going from $1 to whatever their bankroll could withstand, or the table max, whichever was less.

If I ever ran a casino I think I would make my max bets some factor of 2, just as an inside joke to Martingale players.

I do it more often than I see it. But I see it pretty regularly, too.

I saw it on a craps table with a guy betting box cars. He told me he waits for no 12 to appear for 16 rolls and then he starts betting. He claims that he hardly ever loses and his winning sessions more than make up for losing ones. He lost that night quite badly. At least for me it would have been a thorough ass kicking I do not know what he lost exactly but I know it was over $500 and his first bet was $1.00. He just put his tail between his legs and left.