Roberto21
Roberto21
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March 17th, 2022 at 4:45:43 AM permalink
https://youtu.be/5QdxDOfRu_Y

@16:11 “Jackpot Famous” talks about how the Martingale strategy on low bets in games like Baccarat and Roulette is “fine”. Is there any weight to this argument? Is the Martingale a bad strategy in all instances or does it depend?

Sorry if this is a dumb question, it’s just the person in the video states things very confidently.

Thanks!!
DJTeddyBear
DJTeddyBear
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Roberto21
March 17th, 2022 at 5:51:56 AM permalink
Define "fine".

A Martingale is 'fine' as long as you aren't unlucky enough to get involved when there's a streak of events that go the other way.

And, with most people's bankrolls, and/or table limits, it doesn't take many consecutive losses to have one of those events.

Imagine running a Marty on red when 9 blacks in a row comes up. It DOES happen:

I invented a few casino games. Info: http://www.DaveMillerGaming.com/ ————————————————————————————————————— Superstitions are silly, childish, irrational rituals, born out of fear of the unknown. But how much does it cost to knock on wood? 😁
billryan
billryan
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March 17th, 2022 at 8:19:43 AM permalink
Marty can be fun and even can be useful at times.
For instance- years ago the buffet at Virginia City in AC was $10. I'd play roulette and put $10 on Red. If I won, I'd take the money and eat. If I lost, I'd repeat the bet. If I won, I was even and would start the cycle over with a $10 bet. If I lost I'd double my bet to $20.
I enjoyed many more meals than there were times I lost my grubstake. I could have simply paid $10 out of pocket each time, but this was more fun. While it doesn't change the odds against you( Expected value), it may change the entertainment value( little e.v.)
Like your brother-in-law, it might be useful under the right circumstances, but generally should be avoided.
The older I get, the better I recall things that never happened
charliepatrick
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March 17th, 2022 at 11:58:35 AM permalink
Most people bet odds against, so are happy to lose a certain amount every time and get the occasional win. A simple version of this might be to make ten $5 bets on a number (single zero) and hope some of them win. About 3 times out of 4 (76.03%) you lose the lot, about 1 time in 5 (21.12%) you have one win and gain $130, other times (2.85%) you win $310 or more. (On average it costs you $1.35 to have this play.)

Martingale does the reverse, so most the time you win a small amount but every now and then you lose a lot. In your case, suppose you wagered even money (lose on zero) ten times, then 99.87% you'd win $10 and one time in 784 you'd lose $10,240, that would be an expensive dinner! That is to say if you played every day, you'd only lose one day ever two years, but it would cost you a lot; the fun would be you'd never know when that was going to happen!

Still want to do it?
billryan
billryan
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March 17th, 2022 at 12:06:07 PM permalink
Quote: charliepatrick

Most people bet odds against, so are happy to lose a certain amount every time and get the occasional win. A simple version of this might be to make ten $5 bets on a number (single zero) and hope some of them win. About 3 times out of 4 (76.03%) you lose the lot, about 1 time in 5 (21.12%) you have one win and gain $130, other times (2.85%) you win $310 or more. (On average it costs you $1.35 to have this play.)

Martingale does the reverse, so most the time you win a small amount but every now and then you lose a lot. In your case, suppose you wagered even money (lose on zero) ten times, then 99.87% you'd win $10 and one time in 784 you'd lose $10,240, that would be an expensive dinner! That is to say if you played every day, you'd only lose one day ever two years, but it would cost you a lot; the fun would be you'd never know when that was going to happen!

Still want to do it?
link to original post



Absolutely, because there is simply no way I'd ever lose $10,000 on it. This is what absolute math people don't appreciate.
I'm playing for lunch. If I am successful, I get a free $10 lunch. If I'm not successful, I lose $40 and don't eat. I'll eat more days than I won't .Pretty simple.
The older I get, the better I recall things that never happened
TomG
TomG
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March 17th, 2022 at 12:37:22 PM permalink
Some good quotes from that video:

"Martingale is fine"
"Your odds are way better" (17:33)
"It's a very slow progress, but you will get it back"
"You are going to inch your way back to the $100 you lost" (18:42)

Based on the evidence provided in the video, it is clear that this is a way to combine multiple bets to make a positive expected value for the player.
OnceDear
OnceDear
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Roberto21
March 17th, 2022 at 3:54:13 PM permalink
Quote: Roberto21

https://youtu.be/5QdxDOfRu_Y

@16:11 “Jackpot Famous” talks about how the Martingale strategy on low bets in games like Baccarat and Roulette is “fine”. Is there any weight to this argument? Is the Martingale a bad strategy in all instances or does it depend?

Sorry if this is a dumb question, it’s just the person in the video states things very confidently.

Thanks!!
link to original post

The person in the video gets his revenue from Youtube's partner network.
Martingale is a fun way to lose money.

Marty is useful if you are in a war zone with $990 and the price of a flight to freedom is $1000. Marty with $10 base and you will probably get on the flight.
Psalm 25:16 Turn to me and be gracious to me, for I am lonely and afflicted. Proverbs 18:2 A fool finds no satisfaction in trying to understand, for he would rather express his own opinion.
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