Martingale method may work for few people that are lucky enough to recover the losses but for most people it will never work. Rather it will just going to make the losses become even more bigger. I will never ever recommend this to some for people who are worried about the losses they have made when they are planning to chase for it and try to take it back. I simply suggest to cool down call it a day and get to gambling on the other day or on the next day. It is hard to see people getting broke because of this common mistake.
Martingale strategy isn't a preferable method of raising our chances of winning in gambling. Those who practice this method end up chasing losses and it's not advisable as you said. The need to double or increase the amount of money we wager, easily finishes the player's bank roll. Unless a player is ready to lose a significant amount of money before winning, he shouldn't use the martingale strategy. Winning is not certain in gambling, players are expected to reduce the amount of money they spend while gambling, instead of increasing it. We understand that, at some point the gambler could win, but it doesn't worth the risk, as the money may not be equated to the lost money. High rollers may try this method and gain a better profit, but a low roller who does same thing could regret his decision. Hence, it's better to use the Martingale strategy on some sure investments like purchasing shares in a prominent company, than using it to gamble hoping on a big win.