CB, don't tell me you don't know martingale and anti martingale
systems. 
Seriously, I don't.
I think my classmate and I were gambling with toss of coin in
Primary 6 (in class), he tried to use this system, the initial loss
of afew dollars skyrocketed to a couple of tens in the next 5-6
throws. I was hoping that he win it back because I don't know how
to collect so much money from him. Finally he won it back.
Of course for it to work, there must be no limits on bets.
Originally, martingale referred to a
class of betting
strategies popular in 18th-century France. The simplest of these
strategies was designed for a game in which the gambler wins his
stake if a coin comes up heads and loses it if the coin comes up
tails. The strategy had the gambler double his bet after every
loss, so that the first win would recover all previous losses plus
win a profit equal to the original stake. Since a gambler with
infinite wealth will with
probability 1 eventually flip heads, the
Martingale betting strategy was seen as a sure
thing by those who practised it. Of course, none
of these practitioners in fact possessed infinite wealth, and the
exponential growth of the bets
would eventually bankrupt those who choose to use the Martingale.
Moreover, it has become impossible to implement in modern casinos,
due to the betting limit at the tables. Because the betting limits
reduce the casino's short term variance, the Martingale system
itself does not pose a threat to the casino, and many will
encourage its use, knowing that they have the house advantage no
matter when or how much is wagered.