Some time in the early 1800’s there were a group of men sitting around a table flipping coins for pay they have earned from there jobs. The game was simple, place a bet against another man at the table and pick; heads or tails. After losing week after week one of the men came up with an idea he believed was a way to take all the money at that game. It was not cheating, it was not stealing, but it was a pattern in the way he bet. This man did some math and realized by picking the same outcome time after time and simply doubling your bet per loss, eventually you would hit a winner and regain all losses and profit your original bet amount. Now with a solid run of luck this man profited substantially at the next game and boasted about his ingenious way of betting. The next week his friends caught on, it was a constant rollercoaster of profits and losses until one of the men lost 11 consecutive coin flips and ended up walking out empty pocketed and broken spirited.
The next week the men set “betting limits” to eliminate this system of betting they eventually named the Martingale. Since that day over 200 years ago gamblers have lived and died on the Martingale betting system. The idea of hitting one of multiple bets to profit makes it seem like profits are a sure thing. However, like I have learned and almost every other person who has danced with the martingale system you can lose everything you came in with and more quicker then you can say the word martingale.