The method works, as does the same if you bet on the favourite horse in every race until you won your desired amount.

@funny Nope, it would only work if you had infinite money and time and the bookie/casino would accept infinite stakes.

It’s simply a form of low-odds betting, where you risk a large amount for a high (but not certain) probability of winning a small amount.

It’s negative value – people doing it lose money on average (though many get lucky).