The Martingale system
The Martingale system is an 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. 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.
Although infallible in theory, the Martingale system requires a large bankroll, has a very low return and is a very risky one because of the maximum bet limits imposed by the Canadian casinos. If you run out of money or reach the house limit, you can lose a lot with no chance to recover your losses.
The D’Alenbert System
This is a mixture of 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 Parlay system
This system is 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. Basically you make a bet and if you win you re invest the winnings on the next bet.
This method of play is by no means risk free, but it offers the least amount of risk of all wagers since the player 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.
The Paroli system
This system is in a way 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.