Sorry, I'm a little confused by your use of the term "multiplier"... do you mean payout?

So, 10x
payout which would equal around ~9.9% chance (on a typical house edge of 1%)... and then slowly increase that payout (11x, 12x, 13x etc), which effectively reduces the chance, while increasing the bet?
Yes, alright it is payout.
Yea, that's right.