A strategy that doubles the bet after every win? Hmmmm!
I thought the strategy was doubling the bet after every loss, which I am familiar with—the Martingale strategy.
This is just a version of Martingale strategy basically. It's just a simple compounding strategy where a small investment can become something huge if luck decides to side with you all the way.
I did my research and found the exact name the strategy is called.
It is called the Paroli Strategy or reverse martingale.
Reading about it, and as much as the disadvantages of strategies like this have been mentioned here, the strategy still has its benefits.