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BETTING SYSTEMS
(Martingale, Paroli, D'Alenbert, 1-3-2-6, Labouchere, Parlay)
The Martingale System: The Martingale system is a very old and extremely simple system. It is based on the probability of losing infinite times in a row and is usually applied to "even money" bets. You start with one bet. If you win, you start again with one bet. But, if you lose, you double your bet. Each time you lose, you double your last lost bet. Eventually you are bound to win. When you win you would recover all your lost bets plus one unit (or chip) profit against your initial wager.

Casanova used the Martingale in 1754 to win a small fortune. In his biography The Story of My Life, Casanova wrote: "I took all the gold I found and played the martingale, doubling my stakes continuously, and I won every day the remainder of the Carnival." This is the earliest written record of this beguiling strategy.

The Paroli System: This is a positive progression system -- the opposite of the Martingale System. You start with one bet and you increase your bet when you win rather than when you lose. However, you will need to plan a betting procedure whereby you know how far you will let the bet build before you take it down to the initial starting bet and how much to raise after each win. This obviously depends on the type of game played and the odds of the bet. The advantage of this system is that you do not require a large bankroll. It lets the profit run and cuts short the losses.

The D'Alenbert System: This is a mixture of the Martingale and Insurance Systems. Bets are raised one unit after each losing bet and lowered one unit after each winning bet. The sequence and amount raised or lowered can be varied to suit particular games and odds.

The 1-3-2-6 System: The name of this system says it all. It is based on the premise that you can win four times in a row. Your initial bet is 1 unit, the second 3 units, the third 2 units and the fourth 6 units. Let's assume that each unit is $10 and the odds are 1:1 - even money. The first bet is $10. When winning, $10 is added to the $20 on the table making the second bet $30. When winning again on the second bet, there would be $60 on the table. Of this you take down $40 and the third bet is now $20. If the third bet wins, you will have $40 on the table to which you add $20 making a total of $60 for the fourth bet. If the fourth bet wins, there would be a total of $120 on the table, all of which is net profit. The entire bet is taken down and you start the system all over again at $10. Also, each time you lose, at any level, you start all over again at $10. If you lose the first bet, your loss is $10. The second level loss is $20 (because you added another $10). At the third level, a loss will give you a net profit of $20 (because you have taken down $40). At the fourth level, a loss leaves you breaking even (because you put back $20 out of the $40 taken down). The attraction of this system is that you risk $20 at a chance of making $120 net profit. This means you can lose six times at the worst level (second bet), and with one win (a set of four wins in a row) you get your money back. This system is similar to the Paroli system.

The Labouchere System: This system is also called the "Cancellation System." There are many variations. In its simplest form, you write down a series or a set of numbers; say, 1 2 3 4 5 6. The choice of a particular series depends on the type of game you want to apply it to and the odds of the bet. Each number represents the amount in units or chips to bet. You bet the first and last of these numbers. In this example 1 and 6, which totals 7 units. If you win, you cross out the two numbers and bet the next two "ends" (the outside numbers). In this instance 2 and 5. If you win again you bet on the next two remaining numbers 3 and 4, and if you win that too, you would have made a "coup" or completed one game. Then you start all over again. If you lose, then you add that one number to the end of the series. Say you lost your first bet of 7 units (1+ 6). Then you add number 7 to the end of the series to look like this: 1 2 3 4 5 6 7 and your next bet would be 8 units (1+ 7). If you won the first bet but lost the second 2 and 5, then the series of numbers would look like this: 2 3 4 5 7. If you work it out, you will see that when the series is completed or when you make a "coup," there is always a profit. The negative side of this system is that you could end up betting large sums of money even if your initial bet is small. The series can be short or long and not necessarily sequential such as 1 1 1 3 3 5 7.

The Parlay System: This system is a positive progression system, similar to the Paroli System, and has the effect of "pyramiding" your profit. Pyramiding is a parlay wager whereby the original wager plus its winnings are played on successive wagers. It is commonly used in horse racing betting and Craps (Dice). Basically you make a bet and if you win you re-invest the winnings on the next bet. You "let it ride." This method of play is by no means risk free, but it offers the least amount of risk of all wagers since the player betting on horses is only concerned with either a win, place, or show selection, or a combination of the three. It is one of the oldest methods of wagering and was originally derived from the same premise that banking systems use to compound interest.