Well defined risk

What is the moral of the above considerations?

The reality is that the systems do exist (and work!) but don`t eliminate (because they can`t) casino`s predominance. The reason being, the casino`s predominance is the part of the game structure. The casino doesn`t want to soak its guests ((if that was the thing, the casinos would soon lose the guests).It makes money only when the turnovers are high. However, there has to be a safety barrier for the casino preventing it from going bankrupt. That is the only reason for the casino`s predominance.

What does the system really give us then?

The answer is- it minimalizes the risk. Martingale systems are based on the belief that sooner or later bad luck will leave us. Moreover, if we have had bad luck so far, the more adventurous we are to raise the bet in the next round hoping for good luck.

There are no miracles obviously.

On one hand, the chances of winning in the next round grow bigger. On the other, we risk more money every single time. At the end of the day, if we have enormous bad luck, we are likely to lose even a few hundred times in a row. It means that bankruptcy is just round the corner and we will have to face "a beautiful catastrophy" as Zorba used to say.