Given the long history of the game, it is not surprising that over the years many online roulette systems have been devised in an attempt to cheat the laws of chance and consequently to win a fortune on the game. Some people have been successful applying these systems, at least for a while. But ultimately unless they were able to get out whist they were ahead, the systems all had a knack of twisting their tails and biting back. Resulting in the luckless system player ending up broke. You can find online casino bonuses at OnlineCasinoMaple.com and kick off you mobile casino adventure.
The most famous of these systems and probably the earliest was the Martingale betting system. This was the system used by the famous gambler Charles Wells. Charles Wells is attributed as being the man who broke the bank at Monte Carlo.
How Martingale Betting Systems Works
In his first visits to Monte Carlo where he played online roulette exclusively has amassed a considerable fortune applying Martingale Betting Systems. He would bet the equivalent of $50 on a roughly even bet such as a color, and if he won he would again bet $50. But if the bet lost his next bet would be $100.
If that bet lost then again he would double his stake to $200, then $400, $800 and so on. In fact the chances of losing six bets in succession are very low. They are only 3.3% so during his initial visits he never did so. This meant that be using this betting sequence he was always able to recover the losses that he made on his initial losing bet. The chances of losing ten bets in a row are only 0.35% so as long as he had sufficient capital he considered himself to be safe.
The problem with this Martingale betting system is that although the chances of losing a long string of even bets is very low. There remains a chance that it will happen and if the player runs out of capital or hits a house betting maximum before scoring a win. Then the sustained losses can be enormous.
Unfortunately for Mr Wells, this is what he discovered on his third visit to Monte Carlo. Not only did he lose his own money, but also that of his investors and he ended up in prison. Online roulette is a great game, but Martingale is a dangerous system.