In short, is the martingale strategy in betting in such gambling games such as roulette and dice do really is effective strategy? For example, what if you are winning, and every time you win, you double your bets, and basically apply the martingale strategy, which is to double your bet when you lose.
Would that make a huge impact to your funds? I haven't tried it so far, but for me, I don't that is really effective as if we lose, we aren't really going to win right after, because there is still a possibility of losing once again.
The problem with this strategy is that if you keep on losing and every time you double your bet money, it will make your lose even more. And if you have limited budget, you will soon end up with shortage of funds for this investing double every time. This may work sometimes but one day it will make you lose all your money.