If you bet $100, your odds of winning are around 50% and if you lose, bet $200, and so on and so forth until you win, and then cash out with a guaranteed profit. Assuming odds of black are 47.37% as per American roulette, your odds of not winning a single one after 6 tries are 0.02125 (I think) and decrease exponentially after each subsequent try.
In: 93
The strategy you mention is a known strategy that is mathematically proven to have a guaranteed profit. However this is assuming you have infinite money to bet. The problem in your example of 6 tries is that while you have a 97.87% chance of winning $100 there is a 2.1% chance of losing all of $6400. So if 50 people walk into the casino to try this strategy and there is a $7k limit on the table or something then 49 people will walk out of there $100 richer then they were but one person will walk out having lost $6400. The casino have therefore gained $1500 from these people.
Latest Answers