Alzo J. Ferreira wrote the original desk piece. Martingale is not named for a gentleman named John Henry Martingale — Casanova was already doubling even-money bets in his memoirs. The play: start one unit on even money, double after every loss, until a win recovers the stack plus one unit. On paper it never loses. In a casino it meets a finite bankroll, a table maximum, and a wheel that can run one color longer than your pride.
A sequence that starts at $1 hits $16,384 by the 15th bet. If the table max is $500 — a common online even-money cap — a $1 unit is dead after nine losses. The house still holds 5.26% on an American wheel the entire time. You are not beating the tax. You are concentrating it into a rare, violent bill.
People use it on roulette even-money, craps Pass/Don’t, and blackjack even-money. A less theatrical cousin is Labouchere (cancellation), the one Silberstang walked through in Playboy’s Guide to Casino Gambling. Same family of problems: a long enough streak and a max that will not move.
Use even-money bets as entertainment. Do not build a personality around doubling. Roulette desk · The column method.
General information, not advice. Gambling involves risk. See the disclaimer.