It's very risky when you are on many levels of your bet but I can say that if you are betting using the martingale strategy with less than $100 then I could say it will work and not just a stupid strategy. It's fun on that level but your heart slows its beat when you have now multiplied your bets into $1k.
You seriously need to try it out yourself and see what happens. In gambling what will be the number of red streaks does not depend on your strategy. When gambling based on martingale method, you can face an endless red streak of more than 32reds and this will wipe out a lot or maybe your entire balance. Does that mean its going to be the method of ultimate profit? In fact there is no such method which can give profits on every roll. Its just luck.
Anything is possible in gambling and so no strategy is going to be fool-proof or full-proof. If you manage to get lucky you may win but you may also lose if you are unlucky.
That's why you never use martingale strategy for long run, once you use it for long run, you will get that 32reds endless streak. So, before that happen, stop when you think its enough.
You should not even start being comfortable with it in the first place. Martingale is just a strategy to prolong the game a bit but not for winning. Even in the short run whether you like it or not, it is still going to end up hitting you hard.
Even on a betting start amount of 1 sats, depending on your bankroll which I believe no sane individual will be gambling with what they can't afford to lose, just 13 to 15 streaks of losses is enough to wipe your account over just a satoshi. That is ridiculous!
When you do focused on 2x payout then holding up long losing streaks will be possible depending on how much money you do have but mostly i have seen 25+ streaks and your money is gone even putting up 1 sats on your bet. Martingale strategy is classic and been used still upto nowadays but for newbie or new gamblers they do have different mindset and appreciation with this common strategy.They do saw some people who make big profits but they dont know that theres always a very big risk behind it before they do attain those amounts.