Martingale System Sports Betting
by Jerald of Predictem.com
The Martingale System is a betting scheme that is popular for casino betting. It can also be used with sports betting with a few slight modifications. For those of you not familiar with the Martingale System it is a wagering progression where you double your previous wager after you lose so that you will recoup all previous losses in the progression plus an amount of profit equal to the original bet.
The difference for sports betting is that you will have to pay the vigorish where with casino games you play on even money bets. The advantage with sports betting is that if you are a good handicapper you actually can have a better than 50% chance of winning. Lets look at an example to see how this would play out:
Wager #1 Your first bet will be to wager $11 to win $10 on your choice of sides or totals to play on. If that bet loses then you are down $11. This is where the system deviates a bit from the casino Martingale. In order to calculate the amount of your next bet provided you lose you must add up all the previous losses and then add in $10 (your original amount you are trying to win) and then divide that amount by .9091 (assuming the standard vigorish of 10%, meaning you are betting $11/$10). Based on the formula the amount for bet #2 will be $23.10 tow in $21. If bet #2 wins you will have won $21 (bet #2) and lost $11 (bet #1) for a profit of $10. If bet #2 loses your next bet will be $48.51 to win $44.10. If you win this bet you will have won $44.10 (bet #3) and lost $23.10 (bet #2) and $11 (bet #1) for a net win of $10. If bet #3 loses, the amount for bet #4 is $101.87 to win $92.61. This would again put you at a net win of $10 if you win.
Note: This system gains even more merit when you bet on games at reduced odds -105 instead of -110. Sportsbooks offering -105 reduced vig betting: 5Dimes.
It may be easier for you to bet $22 to win $20 if you don’t mind only have a net win of $9 provided you win. If you are doing this at some point you will want to more than double the wager because if you lose several bets you may only be recouping your losses and not actually having a net win.
Many people will actually try this approach when betting on a certain team assuming that sooner or later they will cover the point spread. The risk associated with this system are as follows:
– Extended losing streaks can deplete your bankroll in a hurry because after several losses you are risking a very large wager just to recoup your losses and a small profit.
– Maximum limits on a bet can make it impossible to employ this strategy because if you have a long losing streak you may not be able to make a large enough wager to cover all the losses.
– Bankroll limitations can also influence this system, you must have a very large bankroll to have the courage to continue with this system if you are losing. It is suggested that your bankroll should be 200 times of what your starting wager is so that you can withstand a long losing streak.