My friend did this at a real casino on time. After red came 17 times he lost a crapload of money. He never told any of us how much but he was able to double plenty of times.

I tried this system (it's called the Martingale system) online on a live casino where they use webcams with real dealers. I turned $39 to a little over $500 in one week. But one day I doubled up until I was at $256 and this was my last chance to win before I busted my bankroll. Luckily I made it but I was afraid to continue so I took out all the cash.
The Martingale system works on the shortrun but I doubt it's profitable in the long run. Be very careful if you use this system.