The old 'even money' system

[pahall]

I was just wondering, can the 'even money' system/challenge, which has been bartered around for years, actually work? I was putting some thought into this, and applying some math into it figured it might possibly end up being mightily profitable if patience and logic was applied. The system I'm referring to, you probably all already know or have heard of, is the system of placing an even money bet and if it is successful, place all the winnings on another even money bet, and by the time you reach bet 10, should it be successful, you would have completed 1000/1 on your money. Applying the mathematics, I have seen that any of the following combinations make an even money bet: 1/1 1/2, 1/3 1/3, 1/4, 1/5 1/4, 1/5, 1/6, 1/7...etc If placing on more odds on favourites, can this hold up for 10 bets? Is it worth a go? Has anyone been crazy enough to try this? Thanks for any opinions.