The Martingale betting system is one of the most well known betting systems of the all, and chances are that you've might have even come up with yourself, not aware that it has been around for around 200 years.

As I said, the Martingale betting system is really one of the first betting systems to emerge in recent history, and it has proved to be bad news for gamblers everywhere.

The system works best with games that involve a close to 50% chance of winning, like roulette or blackjack. It's also very simple. If you lose, simply double your bet until you win, at which point you'd have covered all losses and regains your first bet.

What's the problem you ask? Well, table limits for starters. Even if you have enough cash to sustain a few losses in a row, table limits will butcher you beyond recognition. Think about it – you start with a $10 bet, next is $20, $40, $80, $160, $320, and on. If you've ever played roulette, you know this is more than possible in even a short playing session.

Table limits were actually introduced to counter this betting system. What it has essentially done, is make the casino even more money, as the fools who attempt this betting system and fail will more than cover the few lucky moron that got away with it and made $50.