Would that make a huge impact to your funds? I haven't tried it so far, but for me, I don't that is really effective as if we lose, we aren't really going to win right after, because there is still a possibility of losing once again.
Of course, it has a huge impact on where your funds will automatically deduct twice as you normally bet. If you win then it is a good decision, but I doubt that every time you double your bet after you lose will make you win. In the long run, this might be the cause for you to lose more money than you have imagined.