Basically, I need to risk a thousand of dollars only for 1$ profit?
Damn son, Hell Nooooo.
Did you know sometimes, if you not really lucky you will get more than 20x streak lose. From my experience from a crash game, I see 23 crash stop under x2 the lucky thing i stop at 5 streaks lose.
You are partially right. The martingale strategy is way more effective in sports betting where 20 continuous losses are way less likely when compared to gambling your funds in a casino game like Roulette.
Many people have found success using this method in the short term thanks to getting out early and not getting too greedy.