Martingale betting strategy is when gambler double or treble his bet after every loss, so that the first win would recover all previous losses plus win a profit equal to the original stake.
Soccer Team Bayern Munich takes the first place in Bundesleague and can not win three matches in row and you decided to bet on Bayern Munich victory in next match, because you hope the forth game will lucky and Bayern must win, otherwise the team may worse their standings. You bet $100 for Bayern Munich victory vs Werder Bremen, with wager price 1.6. But, unfortunately, Bayern lose, and you also lose your $100.
The next fifth game Bayern plays at home vs Hertha Berlin and wager price for Bayern victory is just only 1.15. You decide to bet $1,000 to win back lost $100 in previous bet and get profit of $50 for two wagers. The result of the match - a draw 0: 0. Bayern attacked a lot, dominated, tried to score but the ball ignored the opponent's net. You lose your second bet in a row and your total loss is $1,100.
The sixth match Bayern plays at home again and its TSG Hoffenheim rival. High attention of journalists of newspapers, television, radio and Internet portals linked to the coming match, a lot of fun and analysts.
You decide to bet on Bayern victory, because if the sixth game Bayern don't win, they can worsen chance for championship. Odds for Bayern victory is 1.2 and you decide to bet $ 6000, because you plan to return lost money before and get profit of $100.
Referee started game and Bayern scored a goal at the beginning of the match and continues to attack TSG Hoffenheim gates. But to score more goals Bayern can't. By the end of the game remains just two or three minutes added by referee, Bayern continues to attack, you have already mentally counted own profit and look waiting for final whistle (visl). And then the TSG Hoffenheim players make the latest counter-attack and forward makes a long-range strike for 30 meters to the gate. The ball falls into top corner and ball in the net. You can't realize what happened, don't believe your eyes. The referee makes the final whistle, and again draw 1:1. You are angry of losing three consecutive wagers and loss amount of $7100.
You may try to bet in the seventh game for Bayern victory, in the hope that after all Bayern will win and you will be able to return lost money. But it's better don’t make it, because amount you need to bet will be very great and continue the serie without victory team can still few matches.
This example is fiction, but in reality, this happens pretty often.
Martingale Betting System bankrupted the huge number of gamblers.
About 15 years ago I lost a lot of money by using Martingale Betting System. I was rookie in sport betting and betted on New Jersey Devils hockey team in NHL. New Jersey led the Eastern Conference and three games couldn't win and then I decided to put on their victory. Then the team couldn't win more five games in row, but I stopped after the fourth loss is because my bankroll was already lost.
One my familiar also lost a great amount of money by using Martingale Betting System, he placed bets on the leader of football league Serie A, that Juventus will score a goal in match. Odds was very low, lower than 1.1 and he had bankroll for two losing bets. Then Juventus didn't score goals in three games in row.