Of course, many of these people expect to win, despite the fact that the games are specifically designed so that for most of them, this will not happen. Some players just feel "lucky" while others have some reason that they think they have an edge. One of these things may be a betting system. However, do betting systems really work?
Gambling Myth - Betting Systems Can Give You an Edge
How Casino Games Work
Casino games, both live and online, have a single basic principle. That principle is that the casino pays you off at worse odds than the odds of the event you are betting on actually happening.
In other words, if you are betting something for which the odds are 4-to-1, the casino will pay you off at less than 4-to-1. They may pay 3-to-1, they may pay 3.5-to-1, but whatever they pay, you can be sure it will be less than 4-to-1. This difference between the true odds and the payout odds represents their profit.
Why Betting Systems Don't Work
Betting systems are ways of betting intended to somehow short circuit the House edge. However, no manipulation of bet sizing can change the fact mentioned above, that the payout odds are worse than the true odds. Therefore no betting system can work.
The Martingale System
The most popular system in play, usually at roulette, is the Martingale System. You double your bet every time you lose in this progressive system.
The idea is as follows. You bet X amount. If you win, you win X. If you lose, you bet 2X. If you win that bet, you have won the amount of your initial bet. If you lose, you bet 4X.
Now if you win, you are up X and if you lose, you are down 6X. If this happens, you bet 8X, and so on until you are ahead.
Martingale System in Action
Click on the link below and watch a a guy who tries the martingale system in one of the casinos online.
Flaw in the Martingale System
In the long run, the system produces losses at the same level as anyone else. In the short term, it produces frequent small wins and occasional massive losses. This is because short term streaks can easily result in two, three, ten or twenty losses in a row.
What will often happen is that the player will run up against the betting limit of the table or the limits of their bankroll. When this occurs, a huge loss is the result.
A better idea is to increase your bet when you win, not when you lose. In the long run, things work out the same, but in the short term, you will have frequent small losses and occasional big wins, which is more fun than the other way around. Remember to set a stop limit if you play this way or you will eventually always break even or lose.
Copyright: CasinoGuide.com
