insane (I think) draw backing progression betting system

[rob in america]

I'm on the email list of a draw backing handicapper who advocates increasing the stake 50% after each loss until a game ends in a draw. He usually backs the draw on lower odds, around 2.9 to 3.3 or thereabouts in a variety of leagues. According to his records the highest loss streak has been IIRC about six games, with lots of streaks of four and five losses, so allegedly a nice profit due to the staking system.  All it would take is the big one, the 12 or 15 game loss streak to wipe out much of ones bankroll however, as the system has no stop loss. I'm always skeptical of progression betting systems (though intrigued by mini ones where you stop after a few losses) though this one is somewhat different in that the staking amount doesn't climb really fast like some.

[Zico10]

I did it for a little while on exactly that system. It did work but I did have a reasonably long losing run which spooked me enough to stop. If his longest losing streak is 6 bets it's good going!