I have never made these bets, but from what I have seen and understood, these strategies of increasing the bet after losing seem very risky. It seems like a cycle that is hard to escape and in the end, mathematics and chance always end up against the player. I think overall this shows that there is no magic formula to win these games easily. But I have one question: do you think there is any strategy that actually works in the long run?
Martingale strategy will lead you to heavy loss, because there is no guarantee that you will win your next bet if you double the lost amount. There is no gambling strategy on earth evented by man that can give you constant win in the long run because gambling is based on luck. The most skillful gamblers on table games will definitely run at loss in the long run because they will never be satisfied with their wins and would continue gambling.
You are absolutely right, the martingale system is a failed one...of all the strategies in betting and gambling this one should be avoided at all cost because In the long run you'd end up losing more than you profit from it...if usually feels good when you are winning, the martingale system is a quick boost for recovery and profit this is why a lot of gamblers still try to get lucky with it even though know the disaster it can cause