We've all heard about doubling our bets after losing, but not many of us know that this betting system is called the Martingale betting system. If you haven't already heard about this betting system, it works by doubling the bet each time you lose. Once you win, you recoup your losses with the addition of your first bet.

This betting system is ideal for games like Roulette and Blackjack, where the chances of winning are close to 50%, which are better for a betting system like this.

There are, however, problems with this betting system. Although upon first glance it may seem like a perfect way to make money slowly, this system is one of the most ill-fated betting system of them all. It surfaced somewhere in the 17th century, gaining huge popularity due to its obvious benefits to its users' bankroll. However, Casinos were quick to catch on and table limits were introduced.

Table limits pose the biggest threat to this system. Imagine a Roulette table with a $5 minimum and a $200 maximum bet limit. All it would take is six consecutive losses and you hit the table limit, rendering you unable to continue the betting pattern.

While six losses in a row might seem exaggerated for a game with nearly 50% chances of winning, it's very common to lose six times and more in a row. Players need to remember that every spin of the Roulette wheel is an isolated event, with past outcomes not affecting any future results. This means that it's more than likely for an event like this.

Furthermore, the Martingale system is one of the most obvious betting systems to spot, making its users vulnerable to casino security escorting them out.