It was effective because he won the bets, wasn't it? I myself wont do such strategy even if I owns that much money because it does not worth the risk. I would rather bet low amount with higher payout instead of betting big amount with so low payout.
It is also not unique strategy as it is being used many gamblers most of the time.
Haha yeah, maybe if he loses he will stop forever in gambling. That strategy does reduce losses but it increases the risk, so it's better to reduce the risk and we still have a lot of opportunities to make big profits.
Most people currently play in low amount, even bots and professional players also do that, this is proof that between the two strategies, a strategy that has a small risk is more effective.