[kruschel]

If you didn't get it, here it is again:

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Is there some reason this wont work? and what is it?


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However. it is a 0.086% chance you will lose 10 times on a row IF there is 50-50 on black/red.

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You basically answered the question yourself.
Lets round your chance of losing everything in 10 straight bets to 0.1%.
You will win your $100 999 of 1000 times, and you will lose $100000 one time out of 1000. Thats an EV of 0.
That was oversimplified, of course, but I hope you get the idea.