This gambling “system” pre-dates the invention of probability and statistics. The principle simply consists of doubling up a wager following every loss. When the player wins, the player wins one unit. When the player loses, the player bets twice as many units. Should the player lose again, the player doubles that wager and so on. The theory is that when the player finally wins a wager, he or she comes out head by one unit. If the player has a big enough bankroll, they will be very hard to beat.
In regard to winning bets, if the player wins the first bet the player takes back a unit and bets one unit on the next play. As long as the player continues to win, their bankroll simply gains one unit per win. In that regard there is no difference between the Martingale System and a series of Flat Bets.
The biggest problem with the Martingale System is that should the player run into a long losing streak losses will quickly become overwhelming, all in pursuit of what ends up being a single dollar profit. The other obstacle is that most casino’s have table Limits that decrease the number of play, and the size of bankroll. It is recommended that players steer clear of the Martingale System, unless they have a great deal of money to begin with and have nerves of steel.