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Right, this is what people always gloss over to just say that eventually the bet will be too big to sustain. Even if you win repeatedly, the bets you make after 3 or 4 losses are vast in comparison the amount you'll 'gain' per win. For the doubling (Martingale strategy), if your bet starts at $1, and you win $2 off of that, it doesn't matter how much you are eventually betting, you'll only make $1 for the whole cycle.
The tripling helps for the profit angle, somewhat. I ran the numbers for total amount of times betting before a win for net win. I wish the formatting let me make tables, but oh well.
Total Times Bet(bet amount): total of bet: net winning:
1 (1) ... 1 ... 1
2 (3) ... 4 ... 2
3 (9) ... 13 ... 5
4 (27) ... 40 ... 16
5 (81) ... 121 ... 41
6 (243) ... 364 ... 122
7 (729) ... 1093 ... 365
8 (2187) ...3280 ... 1094
9 (6561) ... 9841 ... 3281
10 (19683) ... 29524... 9842
So looking at your would-be-a-table-if-formatting-allowed, I noticed the net winning was close to 1/3 of the net wager. Given that the premise is tripling a losing bet, I thought it a little too convenient to have an expected profit of 1/3 so I recreated the table in a spreadsheet then started tinkering with the multiplier after a loss. I'm not smart enough to explain why it's the case, but it appears that the limit of the net winnings / net wager as your number of bets increases is n-2 / n, where n is the factor you multiply by after losing a bet.