yes, specially if you expose yourself to bets in the style all or nothing, ruin is always an option, it just takes one small mistake.
That reminds me that I myself used to play this type of game technique when I played poker on many occasions at a site called betcoinpoker, the only software was free and apart from that there were tournaments 24 hours a day, and it was very exciting because they were all pvp and sometimes when I was already very lost I would opt for going all-in and sometimes I would win, but that was something that was very optional because I remember that you could participate in these games for free, and some other online championships also had to leave a payment in mbtc, how I would like this type of games to come back like that, it was pure fun, but of course sometimes this type of events happen when you play with the martingale, that is why that strategy is not recommended.