Martingale Theory is a mathematical concept used primarily in probability and gambling. It suggests that a gambler can recover losses by doubling their bet after each loss, assuming they have an infinite bankroll and no betting limits. The idea is that eventually, a win will occur, covering all previous losses and yielding a profit equal to the original bet. However, in practice, Martingale strategies can be risky. Casinos often impose betting limits, and players may run out of funds before achieving a win. Additionally, the theory does not change the underlying odds of games like roulette or blackjack, where the house always has an advantage.