Ok so we're all useless at the "win 3% per day" betting system so I would like to introduce this years challenge which is to try and beat Mr. Martingale.
For those that have never heard of the Martingale system it is quite simply a matter of doubling your bets every time you lose in the theory that sooner or later, by the law of averages you will have a winner.
The example often used is Blackjack - you put £5 on Red, if red comes up you put £5 on Red again etc etc. But if you put £5 on Red and Black comes up you then put £10 on Red - if Black comes up again you put £20 on Red and so on until Red comes up again.
Obviously a problem arises if you suffer 4 or 5 losses in a row (apparently the record for the most amount of consecutive Reds in a casino is 18 although this has never been confirmed).
Using the Martingale system on football/sports is slightly different because not all bets that you fancy will be at a price of Evens so what I suggest is that we should try and find bets near enough Evens (i.e. from 4/6 up to 6/4) and however you much you lose (if your bet is unsuccesful) you need to try and win double back with your next bet.
If you really wanted to though I see no problem in someone betting £5 on Evens (losing) and following that up with a £60 at 1/6 to win £10 but obviously with a starting kitty of £100* you would be pretty much out of the game if that one loses.
*I suggest we all start with a £100 bank and obviously you can do it for real or just on this site for fun.
I reckon a few of us might go along way with this and might even get towards £200 - £300 but as you can see by googling "The Martingale System" (I have copied a couple of links below) apparently we will all lose long term.
My theory however is if you are good at betting i.e. know where the value is you could have a chance of beating Mr. Martingale. I win about 65% of my football bets at about Evens and therefore my attitude is that everytime I "stick £5 on Red" I have a 65% chance of winning which suggests I shouldn't have too many losing streaks - I could be wrong.
Who wants in?
http://en.wikipedia.org/wiki/Martingale_(betting_system)
http://casinogambling.about.com/od/moneymanagement/a/martingale.htm
For those that have never heard of the Martingale system it is quite simply a matter of doubling your bets every time you lose in the theory that sooner or later, by the law of averages you will have a winner.
The example often used is Blackjack - you put £5 on Red, if red comes up you put £5 on Red again etc etc. But if you put £5 on Red and Black comes up you then put £10 on Red - if Black comes up again you put £20 on Red and so on until Red comes up again.
Obviously a problem arises if you suffer 4 or 5 losses in a row (apparently the record for the most amount of consecutive Reds in a casino is 18 although this has never been confirmed).
Using the Martingale system on football/sports is slightly different because not all bets that you fancy will be at a price of Evens so what I suggest is that we should try and find bets near enough Evens (i.e. from 4/6 up to 6/4) and however you much you lose (if your bet is unsuccesful) you need to try and win double back with your next bet.
If you really wanted to though I see no problem in someone betting £5 on Evens (losing) and following that up with a £60 at 1/6 to win £10 but obviously with a starting kitty of £100* you would be pretty much out of the game if that one loses.
*I suggest we all start with a £100 bank and obviously you can do it for real or just on this site for fun.
I reckon a few of us might go along way with this and might even get towards £200 - £300 but as you can see by googling "The Martingale System" (I have copied a couple of links below) apparently we will all lose long term.
My theory however is if you are good at betting i.e. know where the value is you could have a chance of beating Mr. Martingale. I win about 65% of my football bets at about Evens and therefore my attitude is that everytime I "stick £5 on Red" I have a 65% chance of winning which suggests I shouldn't have too many losing streaks - I could be wrong.
Who wants in?
http://en.wikipedia.org/wiki/Martingale_(betting_system)
http://casinogambling.about.com/od/moneymanagement/a/martingale.htm
