Winning one million from the casino, guaranteed (nearly)

So you want to beat the casino for a cool million. Ok, here is a system on the roulette table. It's theoretical, it will take awhile, and you had better have some deep pockets. Here is how it works.

1) bet $1 on red (or black, whatever you prefer)
2) if you lose, bet $2 on red/black
3) if you lose, bet $4 on red/black
... continue this pattern until you win...
4) you win $1. Start over on step 1.

Continue the above step system 1,000,000 times. At the end, you should end up $1,000,000 ahead. Now there is a couple of things to consider. Although it is highly unlikely you will win/lose more than, say, 20 times in a row, it is quite possible to happen in 1,000,000 runs of the above system. In that case, you could be wagering a lot once in a while. In a computer simulation of running the system 1000 times, There was a bet of 134 million touched. That's quite a bit to hope for a dollar.

So to be able to run this system, you have to have DEEP pockets. That, and find a casino that will let you play this way. Good luck with that :)

From the simulation, here is the breakdown of wagers, # of times encountered, and % chances of happening:

wager: $1 # of times: 47363291 (47.363291000%)
wager: $2 # of times: 24927507 (24.927507000%)
wager: $4 # of times: 13121947 (13.121947000%)
wager: $8 # of times: 6908653 (6.908653000%)
wager: $16 # of times: 3637176 (3.637176000%)
wager: $32 # of times: 1915725 (1.915725000%)
wager: $64 # of times: 1007786 (1.007786000%)
wager: $128 # of times: 528916 (0.528916000%)
wager: $256 # of times: 278835 (0.278835000%)
wager: $512 # of times: 147026 (0.147026000%)
wager: $1024 # of times: 77406 (0.077406000%)
wager: $2048 # of times: 40696 (0.040696000%)
wager: $4096 # of times: 21300 (0.021300000%)
wager: $8192 # of times: 11167 (0.011167000%)
wager: $16384 # of times: 5988 (0.005988000%)
wager: $32768 # of times: 3215 (0.003215000%)
wager: $65536 # of times: 1609 (0.001609000%)
wager: $131072 # of times: 840 (0.000840000%)
wager: $262144 # of times: 417 (0.000417000%)
wager: $524288 # of times: 246 (0.000246000%)
wager: $1048576 # of times: 126 (0.000126000%)
wager: $2097152 # of times: 67 (0.000067000%)
wager: $4194304 # of times: 35 (0.000035000%)
wager: $8388608 # of times: 13 (0.000013000%)
wager: $16777216 # of times: 7 (0.000007000%)
wager: $33554432 # of times: 6 (0.000006000%)
wager: $67108864 # of times: 4 (0.000004000%)
wager: $134217728 # of times: 1 (0.000001000%)