This method is called martingale strategy.
You increase the bet amount every time you lose and return to the base amount if you win the bet.
If this method could work, all casinos would have gone bankrupt by now.
The house edge is always against you and users always lose in the long run.
There is no way you will fail 7 times and if you do just increase the bet and you will get it back eventually even if you wait 12 times.
It's possible to lose many more bets consecutively.
To be successful, you need an unlimited balance which is impossible.
I use the martingale strategy most of the time even in 50-50 odds, you will eventually lose in the long run. It will work a few times but in the long run, you will be busted. The longest losing streak I had in this method is 14 losses, started with a dollar bet and end up losing all my balance which includes my winning for the whole day. So, moderation is a must when gambling, never let greed and your emotion take over. The more you chase your losses the more the odds will be against you. You cannot avoid the inevitable, the odds will never favor the players. By the end of the day, the house edge wins.
It will work and if you are wise enough, you can enjoy the winnings, but if you push for more eventually, you'll see yourself losing
your entire bankroll.
Remember that H.E is always the advantage of the casino, plus you are unsure if how many losing streaks may
be waiting for you. There are lots of attempts where gamblers use a martingale, but most of them got the same outcome,
they mostly lose the money and end up empty-handed.