Bet-ology: definition of Martingaling 🎥

This is a technique or approach used by determined gamblers that often fails to offer much reward. It is not recommended in sports betting or on the casino floor.

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Sports betting is complicated and it can be intimidating as a new bettor. We’re here to help.

Noor
Let’s get into some betology, AKA betting terminology. In the sports betting world, there’s some strange terms out there, and we break those down here for you, and half the time, I don’t know what they are. And today’s, I have no idea, because it is martingaling. I’m pretty sure I saw martingale earlier, outside by the bird feeder. I’m at that age, I do watch birds now. Saw a beautiful martingale outside, but I don’t think we’re talking about birds here. What is it?

Doug
It’s a term we discuss in the gambling world that is frowned upon. It’s a behavior, an act that’s frowned upon. It is, in theory, doubling your bet continuously until you get your money back or win. The problem is, the past does not impact the future. So when you flip a coin, and it lands heads five times in a row, the odds for the sixth time it is still 50-50. When you bet, whether it’s the blackjack, roulette, red or black, and you keep losing and losing and losing, the act of continuing to double your bet to get your original money back is called martingaling.

Noor
Yeah, got it

Doug
Not advised. However, in sports, there is market correction. For example, in the casino floor, the roulette odds don’t change. Right. The flip of the coin. But if a team has gone under in nine straight games, the data goes into that. And the, the net, the threshold does change and there is market correction. Okay. So in theory it should be a positive ultimate outcome with martingaling. If you have enough bankroll or your units are small enough and the table limit or the max bet, you can still find a way to get down. That’s why it’s like trying to pick up a quarter in front of a steamroller. Very dangerous for very little reward. But that’s the concept. So you don’t wanna get into the habit of martingaling.

You know, the worst team in the NBA, baseball, whatever it is, money line. You don’t necessarily eventually get a winner. Sometimes that streak keeps going.

Noor
It sure does. But have you ever martingaled yourself?

Doug
I have, of course.

Noor
Okay, there we go.

Doug
We’ve all done it. Casino floor back when I was younger, things like that.

Noor
Martingalors synonymous

Doug
And you think you’re edging the house, you’re having an edge over the house, you’re thinking you’re like a card counter, hey. And then you joke around, hey, where’s that MIT reunion, by the way? Say that in front of the dealer so you can get a funny look. Usually you get a chuckle.

Noor
Every now and then. Yeah. It depends on the casino.

Doug
Yeah. Remember, you just have to get hit hard once to make up for all the times you won that little nickel in front of the…

Noor
Exactly, exactly. The more you know, that betology, one and only Doug Kezirian