The Martingale System And How It Can Help Chasing Losses

Strategies When Chasing Your Losses Won’t Kill You 

It’s a sad sight to see when casino gambler starts to chase their losses. They will continue to do so until they have completely depleted their bankroll. As you’re probably aware by now, here at Jackpotfinder.com, we are very much against chasing losses. However, today we thought we look at the situation from a more realistic viewpoint. If gamblers are going to chase losses, then maybe it’s better to try and introduce, systems, like the Martingale system, that will ensure they lose less.

To that end, the strategies we have suggested below will not help increase your jackpot winning chances. But they may well slow down the rate of your losses. Keep in mind that using any of our suggested systems is still chasing losses. In an ideal world, we’d prefer that you didn’t. Just get up and walked away from a table.

The Martingale System Capped 

Before we start talking about the capped Martingale system, it’s important that you understand something. That is that the Martingale system doesn’t work. Eventually, it will destroy your bankroll completely. Furthermore, it actually destroys the entire lives of some gamblers. Yes, we can all agree that on the back of a napkin, the Martingale system looks foolproof. The only way it can really work is if you have a hard cap in place. In fact, we would go as far as to say that using the Martingale system without a hard cap is foolish.

Most Gamblers Choose The Martingale System

If you actually examine the techniques and systems used by gamblers who chase their losses, probably the most common is utilizing the Martingale. Though in truth, there are many other systems used by gamblers who are chasing losses, we can see that the Martingale is the number one choice for the vast majority of them. This is also true with gamblers at online casinos like Bovada Casino.

The Martingale System Fits The Majority Of Wagers

The first thing to say is that one reason why the Martingale betting system is so popular is that it works with virtually all types of wagers. But without a doubt, it works best on wagers to pay even money or 1 to 1. Another way of explaining this is to say that these events are as close to a 50% chance of winning. If you stand by any roulette table for any period of time you’ll start to recognize that many of the players are using the Martingale system. One reason is that in the game of roulette there are many 50/50 bets that payout even money. For example, betting on red/black or odd/even.

Just Keep Doubling Bets After A Loss

As you’re probably aware with the Martingale system, you simply bet twice as much on the next spin if you lost the previous bet. So if you bet $10 on the 19 coming up and you lose, then you’ll bet $20 for the next spin. If you lost this bet, then you would double once again taking you to $40. As soon as you win then you will stop doubling your wagers and return to making $10 bets once again. The reason for this is that every time you win, then you will end up with a profit equal to your first bet which was $10. The rest of the money you were betting simply covers the money you previously lost.

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The Martingale System Bet Progression

As previously mentioned, when you look at the Martingale system written in front of you, it seems like the perfect system. That’s because we can see that the odds are so low for having a long losing streak. But this is simply untrue. At some point, you’re going to lose more bets in a row than your bankroll can handle.

Here’s the progression of bets you have to make starting at $10.

• $10 – $20 – $40 – $80 – $160 – $320 – $640 – $1,280

And here’s the bet progression if you start at $20.

• $20 – $40 – $80 – $160 – $320 – $640 – $1,280 – $2,560

With the above example, you can clearly see how quickly things can get out of hand. Of course, what’s even worse is if your opening bet is high. If you start off very low, then it’s true that by using the Martingale system it’s possible to win most of the time. But it takes just one long losing streak for all these wins to be wiped out. 

Always Have a Hard Cap

If you were the type of player who insists on using the Martingale system, then we suggest that you make use of a cap to ensure you never lose too much. For example, a player who starts with a $10 wager should have a cap of $320. If they suffer a losing streak and manage to get up to $320, then it’s time to stop playing. Or you can simply stop doubling your bets and returned to betting $10 again. Many players believe that it’s almost impossible to lose 6 bets in a row. But probability being what it is, means that it’s perfectly possible.

Self Control Is Essential

A lot of betting comes down to self-discipline. The vast majority of players will continue to chase their losses well beyond their cap. That’s because they think it must be impossible to lose 8 wagers in a row. This is a fallacy. The only way to truly protect yourself it’s a hard cap and never go over it. It’s called self-control and it’s hard to do. At the end of your session, if you’re determined to use the Martingale, but with a hard cap, then you’ll slow down the use of your money in the long run. Yes, you may well win most of the time you play. But by keeping a hard cap, you’re able to play for longer. As well as have a much better time.

When You Have a Real Edge

Very very few gamblers are able to play at the casino, whether online at a casino like Bovada Casino or offline with a real edge. You can define a real edge as making a long-term profit with the jackpot games you’re gambling with. It’s important to consider there is a huge difference between winning sometimes and making a consistent long-term profit. There’s no rocket science behind a gambler winning sometimes, and this will happen to the vast majority of gamblers at some point. Yet there is a small percentage of gamblers who are able to consistently bring in long-term profits. 

Learn How To Play With An Edge

A big problem here is that the vast majority of gamblers never bother to learn how to play with an edge. But if you are able to play with an edge then you can probably afford to chase losses more than those without such skills. Once again, we’re not suggesting you should chase losses at all. But if you have an edge, you may be in a better position to chase losses and lose less in the process. Having said that, don’t expect to win the jackpot online.

Another point you should consider is that your variance will go up when you’re chasing losses. Is perfectly true there are some gamblers who are perfectly comfortable with a lot of variances, provided it makes them a profit. But the vast majority of gamblers can’t stomach a lot of variants at all. 

Low vs High Variance

Let’s have a look at an example of gambling with an edge has a low variance game and see how much is possible to win and lose during your playing sessions.

• +$22, +$45, -$40, +$39, -$12, -$16, +$12 – for an overall profit of $50.

Here’s an example of high-variance gambling with an edge, with how much you win or lose in each playing session.

• +$210, +$121, -$215, +$332, -$300, -$212, +$114 – for an overall profit of $50.

Work Harder For Longer

The main consideration for chasing losses when you have an edge is that you still need a large bankroll to begin with in order to ride out the higher variance. If you really do have a true edge, then you’re going to win in the long run. But keep in mind can be a rough ride on your way as you chase the best online jackpots. Personally, we find it hard to recommend that any gambler is going to be better off if they are chasing losses. Even if they have a real edge. In these situations, we suggest working with a much smaller bankroll. And grinding out small profits over a longer period of time.

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