Quote from: crwth on September 12, 2018, 09:24:13 AM

Quote from: Kevin77 on September 12, 2018, 08:07:37 AM

Quote from: kurian on September 06, 2018, 05:05:51 PM

I have found a well explained post from an another topic which would obviously make you understand why Martingale won't work for long. It is not worth to risk a large amount of money for a small profit. No matter how much bankroll you have, this strategy could wipe out the entire balance as simple as that.

A well explained post indeed, I must say. I have argued with certain people in the past about things like this and how long streak of losses can hit your game and then you are left with nothing, this certainly is a mathematical representation of what happens with just only 20 streaks which is something that can easily be seen and a lot of people tend to discard. At 20 streaks of losses, such individual is already at a loss of a total of 1048575sats, over pursuing 1 satoshi. That is like taking a lot of risk over something insubstantial.

I do see many gambler here are sharing about their 30+ losing streaks also. Still, I am not seeing any possibilities for such things to happen in real life but more frequently happening with online environments. I mean where is the actual problem is occurring ? Concluding this mathematical formula as not suitable will ignore the basics of probabilities and permutation ?

Mathematical things will never react based on environments. But unfortunately, by keeping the full faith on those gambling houses, we do get ready to call one mathematical formula as a pure shit. Ridiculous gamblers Shocked

.

Well I guess what happens happens whether it should be positive or negative, it happened already and you can never get it back. And what caused it? When gambling, its greediness and it doesnt serve anyone or anything else. Risking everything would mean total devastation of your balance. For mathematics, it just happens to be that lucky strike.

Exactly! When we use martingale strategy we double on every loss we make. For the first couple of bets the amount to recover may be small but, eventually we would risk big amount doubling on losses. That's how we end up busting the entire balance. Actually we are hoping to recover everything with a one last bet (Most probably it won't happen xD).