Always Triple Your Bet?

Several years ago I worked with this really funny older guy who was really into money, gambling, and girls. He eventually quit, got a better job, a beeper(yes this was a LONG time ago), and a new car. He had become a high roller in my mind. He would always say, "triple your bet, you can't lose!".

Anyways let's test his theory. Suppose we play a game where if you win, you double your money.

For example,
if you bet 1 penny then you win 1 penny
if you bet 4 pennies then you win 4 pennies
etc...

Ok so now let's take a fake scenario. Suppose you,

Bet 1 penny, lose, so TRIPLE your bet
Bet 3 pennies, lose, so TRIPLE your bet
Bet 9 pennies, lose, so TRIPLE your bet
Bet 27 pennies, lose, so TRIPLE your bet
Bet 81 pennies, WIN, so now you win 81 more pennies.

Ok so much did you lose in the previous games?
1 + 3 + 9 + 27 = 40.

But you won 81 pennies, so your total profit is then 81 - 40 = 41 pennies.

This works every single time. Try it, take some pennies or a piece of paper and a calculator and you will notice that if you ALWAYS triple your bet, you will always eventually end up a winner.

So why don't people do this? To be honest I have no idea, I don't go to casinos often. According to this "cool" guy I used to know casinos set betting limits at the tables. Also if they notice this kind of behavior eventually you will be kicked out.

I don't know why people don't do this. There has to be some kind of rule against this, because it NEVER fails:)