Hello folks, never posted here before, just stumbled across it because I'm doing a bit of reading on progression betting strategies. My understanding is that they fail, no matter what, in the long run. The question I have however, is, what exactly causes their failure? Specifically regarding up-as-you-lose progression methods, the example I'm questioning is a "Martingale", I think:
Bet 1 unit, if you win, keep that bet aside and reset
If you lose, double the bet
So if you started with 1 unit and lost 10 hands in a row, you would be down 512 units (I think). If you won the next bet, you would be even. Any winnings (1 unit at a time only) are kept aside.
Is the restriction, or downfall to a progression system like this solely based on the table limits (or your own bankroll limitations)?
Sorry if this has been covered before - I 100% understand that progression systems lose, but I'd like to take a concrete reason to my friend who believes that this is a must-win type of system, whether mathematical or logistical in nature.