One of the main issues with this approach is the exponential growth in bets. $10 starting wager becomes $640 by the seventh step: $10 → $20 → $40 → $80 → $160 → $320 → $640.
After only a few losses, the required stake can become far larger than most players expect. If the streak continues, the progression can quickly climb into the hundreds or thousands of dollars.
In the end, the system depends on a win arriving before the stake becomes too large for the bettor’s to fund.