I am also sure there is a name for this strategy which I am unaware of so forgive me for over-explaining. Here the assumption is that the odds of winning just about any game at a casino are approximately 50%, and that eventually you should win without losing to many games in a row. This strategy ensures that you will recoup all of your previous losses upon a win. So I'm sure you are all familiar with the strategy of doubling down on losses, where with each hand lost the gambler doubles their losing bet, continuing until a win.
