Re: Know when to ride and stop!

Quote from: Oshosondy on Today at 03:34:24 PM

Quote from: dimonstration on Today at 03:27:17 PM

Don’t increase your bet when you are losing because it will just amplify your loss immediately once you are in bad streak. Always test the water before you increase your bet. Wink

Assuming I have $20 to be used to bet for the week. I want to go for 3 rounds. Anytime I win, I will stop gambling for the day. I go for a 3 odd game.

For 3 odd games
I bet $5
If I lose, I will bet $10
If I lose I will bet $20

This is called martingale which we all know and can be used to win. Anytime I win, I will stop playing. If I lost three 3 times, I lost for the week, but the chance that I will lose three time is very small. All losses after a single winning would be recovered and there would be more profit.

The disadvantages are that you will not be able to stay long to gamble and also if you lost more, the higer the losses in the next round. It takes discipline and responsible gambling.

The martingale strategy is a fine strategy specially for those with small bankroll and that have stipulated number of times they have set to play after which they would have to stop for the day. If you don't do it that way and peradventure you encounter streaks of losses which is very likely to happen, a continue increase of stake upon each loss without a limited gambling plan can run dry your pocket cause your loss gets higher with every bet made going forward. So to be successful with the martingale a gambler has to apply absolute discipline knowing when to stop when is not his/her day rather than chasing the losses.