Martingale

The Martingale system is a very old and extremely simple system popular in 1980s France. It is based on the probability of losing streaks and is usually applied to 'even money' bets.

How the Martingale system works?
Every time you lose, you double your previous bet and continue doing so until you win. The theory behind this is that when you do eventually win you will have covered your previous bets and have one betting unit profit.

You start with one bet. If you win, you start again with one bet. If you lose, you double your bet. Each time you lose, you double your last lost bet. Eventually you are bound to win. When you win you would recover all your lost bets plus one unit profit against your initial wager.

Although infallible in theory, the Martingale system requires a large bankroll, has a very low return and is a very risky one because of the maximum bet limits imposed by the betting companies. If you run out of money or reach the company limit, you can lose a lot with no chance to recover your losses.

The principle of the Martingale system is as follows:

Martingale 1-2-4-8-16-32.
Each time you lose, you bet double. Do this again until you win, or until you play the highest bet. Then return to the lowest bet. Example:
1. Bet $1 and win. Keep betting $1 until you lose, then bet $2.
2. If you win the $2, return to $1. If you lose, then bet $4.
3. If you win the $4, return to $1. If you lose, then bet $8.
4. If you win the $8, return to $1. If you lose, then bet $16.
5. If you win the $32, return to $1. If you lose, then also return to $1.
6. And so on...

Example:
You've found a game with odds 2.0 for home victory. You bet 100$, but you lose, as the game ends in a draw. Next time you bet 200$ on a game with odds 2.0. If you lose again, you must bet 400$ on a game with odds=2.0. If you win this time, you've placed a total stake of 100+200+400 =700$, and you've won 100$ for your efforts. The 100$ payoff is equal to what you would've won on your first bet.