Here is a screenshot from earlier today, I was playing roulette and after 10 losses, I had to bet 512, which I won and took home a 1,024 win
BlissfullyJ
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I hate risky progression betting especially the one you just about survived by the skin of your teeth.
Say for example you had lost that last spin! You wouldn't be able to recover your losses by continuing on with your 'double up' bet as the table maximum limit wouldn't allow you to bet $1024.
And your bankroll would have been eaten up leaving you with nothing to bet again with anyway considering you would need to bet another grand on the 12th spin and theoretically if you had a no-limit table maximum, if that lost you would need to bet 2 grand on the 13th spin etc.
Your total wager to reach the point in the game that you won at.
0.50 + $1 + $2 + $4 + $8 + $16 + $32 + $64 + $128 + $256 + $512 = $1023.50
Congratulations! You managed to recover your losses and won fifty cents.
Risking a $1024 to do it and if that last bet lost, you would have gifted a cool 10 big ones to the casino without the chance to recover your losses.
Lucky for you that streak of losing reds ended with a winning black on the 11th spin as streaks often go up to 12 of the same color and even 20 the same with a zero thrown in on the end for good measure. Though if you like high risk betting that's your call as long as you understand the risk.
Another point is if a player was playing at this casino with a bonus, then they would have lost all their winnings as they don't allow roulette to be played with the bonus. Also if you were playing in the casino.coms casino royale tournament promo you would have lost your winnings as the terms dictate no low risk betting on red or black colors.
I've seen a few dodgy websites/casino portals over the years promoting the martingale system or similar with the misleading 'you can't lose with this betting system 100% success mathematically proven' followed by 'download now e.g. Marty-is-the-way-to-win-Casino.com and get a huge bonus' knowing full well the bonus wont count towards roulette.