It wont be profitable in the long run because you are just giving away your money to the casino and the losses that you have will always be greater than the winnings that you get.
If I'm not mistaken about the calculations by OP in first post clearly, he stating that its profitable in long run, but the problem is we cant be always the winner. So, there is always a winner among gamblers, but its random.
Yeah, it can only be profitable if you consistently win and manage your bankroll properly.