Originally Posted by
Dan Druff
Even with no table max, the Martingale is going to screw you, because you have a finite bankroll.
The only way you could successfully use Martingale is by having a bankroll so huge compared to your starting bet (and no table max) to where it would be virtually impossible to go on a streak badly enough to bust you in your lifetime.
But there's still a problem. Then you'd only be winning tiny money compared to your overall net worth, thus wouldn't be worth your time anyway!
There's really only one example I can think of where the Martingale is smart to do. It's if you need a small amount of additional money badly, and are willing to risk the small chance that you'll lose a larger amount of money to get it. For example, let's say I show up to Caesars to see a show, and bring $260 for tickets for me and my girlfriend.
Then I get the bad news -- the cost of two tickets is actually $262, so we can't see the show due to being $2 short!
At this point, the Martingale would be smart, because I could do a $2 base bet, and would have to lose 7 times in a row to bust the money I brought with me. If I win once, I can quit and see the show, because I'll have my $2 profit. I'm over 99% to win at least once out of 7 hands in a 50/50 type game, so it would be worth it to do this, rather than going home and missing the show. Even if I do get really unlucky and lose the 7 hands in a row, it's not a devastating hit to my roll (only $254 lost) -- only an annoyance.
Other than something like that, the Martingale will always burn you soon enough.